Eka Global Co Ltd, a Thai plastic packaging company, plans to increase its production capacity in India to cater to growing demand in that market.
The company operates two manufacturing plants at present -- one in Thailand's Chachoengsao province, and the other in the city of Pune in the Indian state of Maharashtra.
The two plants have a combined production capacity of 1.5 billion units per year.
The Indian facility, which commenced operations in March this year, can produce around 300 million units per year, with current production standing at 70% of its total capacity.
"We estimate that the Indian market has significant growth potential, driven by an increasing demand for food packaging products," said Chaiwat Nuntiruj, group chief executive at Eka Global.
India's economy is expanding with a projected growth of around 7% next year, Mr Chaiwat said.
The company anticipates its production will hit 400 million units in 2025, with a goal of reaching roughly 1 billion units in 2029, he said.
To meet the expected rise in demand, the company plans to relocate some existing machinery from Thailand to India by the end of next year.
"We do not plan any major investment in 2025, but we may reconsider reinvesting in 2026," Mr Chaiwat noted.
He said that longevity packaging is a sunrise business with abundant opportunities, as food manufacturers might consider switching from current packaging such as cans to this innovative option.
This shift can be attributed to the customisation capabilities of the packaging and its lightweight nature.
Longevity packaging can extend storage life outside the refrigerator by up to two years.
The company has a revenue target of approximately 1.2 billion baht for this year, with a growth target of 10-15% in 2025.
