RUBYTHICHA Love At First Sight
Team : RUBYTHICHA
Member
Ms Naruemon Chuthapthim
Ms Chonthicha Wareepin
Ms Naruemon Chuthapthim
Market Situation
Waste, particularly plastic waste, has emerged as one of the most pressing environmental threats of our time. Not only does it pollute land and water, but it also significantly contributes to global warming. The decomposition of plastic waste releases methane, a greenhouse gas with a global warming potential more than 25 times greater than carbon dioxide.Moreover, the plastic production process itself is a substantial source of greenhouse gas emissions.
To address this crisis, the global community is increasingly focusing on reducing plastic waste. Thailand, a nation significantly impacted by this issue, generates an average of 26.95 million tons of waste daily, with plastic being a major contributor to marine pollution and ecosystem disruption. The resulting greenhouse gas emissions exacerbate natural disasters such as floods and droughts, affecting the country's economy and society.
Consumer awareness of these issues is on the rise. According to Tetra Pak, 83% of global consumers are concerned about ocean plastic pollution, and 78% are worried about climate change. Similarly, a survey by Hakuhodo ASEAN revealed that over 86% of Thai consumers prioritize environmental issues and are willing to pay more for eco-friendly products.
Driven by this growing consumer demand, the market for sustainable packaging in Thailand is experiencing robust growth. This trend aligns with government policies promoting eco-friendly products, such as the ban on plastic imports and the goal of achieving 100% recycling by 2027. The Thai packaging industry, valued at 350 billion baht in 2023, is expected to grow by 10% in 2024, reflecting the potential of the sustainable packaging market.
In response to these factors, businesses within the packaging industry are compelled to adapt to stricter regulations and meet the evolving needs of environmentally conscious consumers.