Market Trends of Thailand Metal Packaging Industry
This section covers the major market trends shaping the Thailand Metal Packaging Market according to our research experts:
Growing Demand for Canned Food may Drive the Market Growth
- Canned foods are more popular in the country since they are easily accessible and a necessary component of many people's diets, which would help the canned food industry grow. Demand increases, even more, when high-quality canned goods emerge, supporting the market.
- Hypermarkets/Supermarkets are the country's primary channels of canned food distribution. The broader availability of products under one roof, ranging from soups to meat products, has fueled the growth in the sales channel. Supermarkets sell products at competitive prices to expand their consumer base. Bundling products has been a popular strategy that has promoted the development of canned products such as instant noodles, ready meals, and canned soup. Central Food Retail, Gourmet Market, Villa Market, Foodland Cash and Carry, UFM Fuji Super, and MaxValu are the major superstores in the country.
- Further, the Thai economy would be supported in 2022 by increased exports, domestic consumption, and a rebound in tourism. The food sector is one of the primary retail industries in Thailand. Moreover, before the pandemic, the consumption of canned goods increased due to the nation's economic expansion, rising middle-class disposable incomes, a stronger spending tendency, and a trend toward urbanization.
- Thais' eating habits have changed due to the pandemic and changes in the organization of their families. There is now a greater demand for ready-to-eat meals that are easy and healthful, as well as for food delivery, which has increased the usage of canned goods.
- Moreover, major food exports of the country include canned tuna and pineapple, along with rice, sugar, meat, and cassava products. In 2021, the value of Thai food exports was USD 34.6 billion, up 11.8 percent from 2020, according to the National Food Institute. Moreover, according to the OIE, in 2021, the domestic sales of canned sardines were valued at around 92.352 thousand MT, while canned tuna and pineapple recorded sales at about 34.484 thousand MT and 25.086 thousand MT, respectively.
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Beverage Segment is Expected to Hold a Significant Market Share
- Metal packing containers in the country are increasingly used in packaging due to their durability and portability. Nowadays, many beverage cans feature easy-open lids, which makes them more comfortable to use and better fits the fast-paced lifestyle of modern civilization. They are also commonly utilized in tourist locations. Beer, soda, and even wine are frequently packaged in aluminum cans.
- Vietnam's beer, wine, and other beverage packaging industries significantly demand metal beverage cans for packaging fluids. The market for beverage metal cans is driven by rising consumer awareness of the need to adopt green and environmentally sustainable and by increasing recycling and reusability rates.
- According to the Vietnam Beer-Alcohol-Beverage Association, the beverage industry in Vietnam is growing at increasing rates. On average, Vietnamese people consume more than 23 liters of beverages per person per year. 85% of the beer, alcohol, and beverage sector's output is produced by the beverage sector.
- Moreover, the youthful population provides a significant portion of employment and a sizable portion of the beverage demand. To attain its growth rate goal of 6% to 6.5% in 2022, the beverage industry in Vietnam has established this as its goal. As of 2019, the industry expects to manufacture 88.56 percent more beer than it did last year, or 4.5 billion liters, up from 4.2 billion liters in 2021.
- Further, according to the Ministry of Commerce, in 2021, the beverage exports of Thailand were valued at around USD 1,932.25 million, a 2 million rise in exports from the previous year, 2020, valued at about USD 1,930.18 million. Cambodia is the major exporting destination for beverages, valued at approximately USD 437.53 million, followed by Vietnam with USD 395.66 million. The significant value of exports of beverages increases the demand for metal packaging companies to increase their production capacities in the country.
