Thailand Metal Packaging Market Size

Thailand Metal Packaging Market Analysis

The Thailand Metal Packaging Market is anticipated to register a CAGR of 7.62% during the forecast period. The market's demand for beer and energy drinks has steadily expanded in recent years. Over the projection period, it is anticipated that the sustained economic expansion in the market will increase the need for aluminum cans.

• Metal packaging options like aluminum and steel cans and others provide superior strength, are durable, and are rigid compared to other materials like glass or steel. The key characteristics of these metal containers are rather significant in packing and distributing various edible and non-edible commodities. Producers of several products always strive to provide clients with the ideal experience possible when handling completed items. Metal packaging solutions help clients accomplish their objectives since they can endure even the roughest handling, jerks, and jolts without endangering their safety.
• Further, recycling metals generally results in minimal unnecessary waste, which benefits the environment. Metal packaging solutions have shown to be an ideally acceptable material on this front, as several organizations around the nation are emphasizing the use of recyclable materials in the packaging business.
• For example, Thailand attempts to accomplish the SDGs and UNIDO's Greening Industry. In May 2022, the Ministry of Industry stated that the project's goal is to support the development of the scrap metal value chain's circular and green economies by providing co-financing to encourage the quick adoption of the best environmental practices and technologies currently on the market associated with an increase in energy efficiency. Over five years, the initiative garnered more than USD 12 million in commitments from scrap-metal recycling businesses.
• The expansion of Thailand's metal packaging business has been substantially attributed to the country's increasing tourism numbers since the packaging, primarily used in hotels and restaurants, presents a luxury aesthetic while still being travel-friendly. The rise of Thailand's beverage sector, particularly beer and energy drinks, has been considerably aided by the increase in middle-class populations in the bordering nations, like Myanmar, Lao PDR, and Cambodia.
• On the other hand, the metal closure business faced a significant challenge from the increased usage of plastic bottles in favor of glass ones. The end of Pepsi Co.'s glass bottle considerably influenced the metal closure business.
• Metal packaging sales declined due to the COVID-19 pandemic's negative market impact. The epidemic has hampered supply chains and forced market participants to shut down their production facilities while under lockdown. However, the demand for effective eco-friendly packaging options for food and beverage is driving market expansion. Further, the Russia-Ukraine war has an impact on the overall packaging ecosystem.