10 Mar 2021
Label and Packaging Market in Thailand Posts a 88.9% Growth Semi Annual; IDC
BANGKOK, March 10, 2021 - According to the IDC Worldwide Quarterly Industrial Printer Tracker, label and packaging product of industrial printer tracker showed significant growth in the 2020H2 period by 88.9% recover from 2020H1, -50 declined semi annual. The hardest period for all label and packaging printing industry players in term of investing new machine was during countrywide lockdown since March to June 2020. “However, digital label and packaging print volume have been increasing from customization, short lead-time and high SKU print from ready to eat food. This made commercial printers were started investing new machine since August 2020.” says Puwanart Pientanyakij, Market Analyst for IPDS at IDC Thailand.
Most of business is adopting to the COVID-era and still-strict social distancing rules as business activity picks up, have led to a spike of Ready-to-Eat food from Grabfood, Foodpanda and Lineman. Ready-to-Eat food in online platform usually have customized label and packaging to have QR code, next order coupon and retail’s social media channel appears in the label and packaging in order to gain royally customer and repurchase food and beverage.
Another reason for 88.9% semi annual growth in 2020H2 was tax deduction. Thailand tax royal was gazette, effect on 23 June 2020, to grant a 150% additional deduction to companies and juristic partnerships for certain investments made in computer system and new machinery for automation system. Companies can claim tax deduction in their annual income tax computation for qualifying amount paid for investment in machinery. This boost Thailand’s economy and support the manufacture industry affected from the COVID-19 pandemic including Commercial printers who was adopting digital machine to automated workflow their production for customization label and packaging to be able to run production with small amount of workers regarding social distancing rules. It was good time to invest digital printer machine to serve demand from e-commerce such as customized corrugated packaging and variable label printing.
About IDC Trackers
IDC Tracker products provide accurate and timely market size, vendor share, and forecasts for hundreds of technology markets from more than 100 countries around the globe. Using proprietary tools and research processes, IDC's Trackers are updated on a semiannual, quarterly, and monthly basis. Tracker results are delivered to clients in user-friendly excel deliverables and online query tools.
International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading tech media, data and marketing services company. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn. Subscribe to the IDC Blog for industry news and insights: http://bit.ly/IDCBlog_Subscribe.
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