Thailand Packaging Industry to Continue Strong Growth through 2016
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The packaging industry in Thailand registered strong growth during 2007–2011, according to a new report by MarketResearch.com, Rockville, Md., USA, titled Packaging Industry Outlook in Thailand: Market Size, Key Trends, Drivers, and Challenges to 2016. The new report also provides forecast figures for the 2012–2016 period.
The new report notes that during 2007-2011, the Thai packaging industry grew with a CAGR of 8.21%, supported by both growing food exports and the entry of major industry competitors into the domestic market. The food and beverages sector remains the key growth driver of the domestic packaging industry and is supported by export demand and easy access to raw materials.
Over the forecast period, the industry is expected to grow at a CAGR of 6.41% to reach a value of $11.1 billion in 2016. The estimated growth rate for the industry over the forecast period is significantly lower than the growth rate achieved in the review period. The slow growth in the demand for packaging products is expected to reduce revenue growth, and hence the financial performance, of Thai packaging companies.
More information is available online.
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