Toyo Seikan Group Holdings Ltd in Packaging

March 2021

Toyo Seikan Group is a major beverage packaging player based in Japan. This report seeks to understand the company’s offerings of consumer packaging, from pack types to closures. Given the pandemic’s impact, Toyo Seikan Group is facing enormous pressures, evidenced by the slight 0.3% decline in its revenues in the financial year ended in March 2020. This profile evaluates the businesses the company is in, analyses the challenges it faces, as well as examines opportunities for recovery.

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Key findings

Geographic Diversification

Asia Pacific is forecast to continuously contribute largely to metal and rigid plastic, the major areas for Toyo Seikan to operate in, with CAGRs of 2% and 3%, respectively, over 2019-2024. Toyo Seikan should continue to explore soft drinks, alcoholic drinks and packaged food in the region.

Continuously strengthening its Asian presence such as in Indonesia and Vietnam outside its mature domestic market would allow Toyo Seikan not to miss out on any growth opportunities. For example, Toyo Seikan’s recent focus on Southeast Asia with setting up Singapore as the regional hub has successfully built up momentum in the region.

New Product Development

Toyo Seikan has invested in increasing supply capability to meet growing demand for “at-home” consumption during COVID-19. The company has expanded its production facility for pouches and aluminium beverage cans. Given the momentum of current trends, Toyo Seikan should continuously look to emerging pack types to diversify its product offerings to capture growth opportunities.

Glass packaging remains a white space for Toyo Seikan. It is gaining traction as it offers a premium image for drinks such as bottled water. These should be another growth opportunity for Toyo Seikan to look at to offer an all-round packaging solutions to its clients.

Sustainability Focus

Toyo Seikan’s continued sustainability initiatives such as investing in R Plus Japan Ltd and OPEN UP! PROJECT have demonstrated the company’s commitment to offer an environmentally and socially sustainable future for the food and drinks industry.

Toyo Seikan needs to continue to execute its environmental and social sustainability strategy, setting corporate directions to become a purpose-driven enterprise, in order to properly respond to growing consumer concerns regarding the subject. This will require a continued emphasis on the use of renewable materials, creation of packaging products that are even simpler to recycle and social engagement.

This report examines:

  • Company share by region and sector
  • Brand portfolio
  • New product developments
  • Marketing and distribution strategies

A detailed SWPT analysis of Toyo Seikan Group Holdings, Ltd provides strategic intelligence on:

  • Strengths and weaknesses
  • Category and country opportunities for growth
  • Challenges and threats from current competition and future prospects
  • Global and regional market positions

Research you can trust:

Euromonitor International's company profile reports are written by our Packaging research team, a dedicated group of analysts that knows the industry inside and out. Buy this report to inform your planning, strategy, marketing, sales and competitor intelligence functions.

Introduction

Scope

Strategic Evaluation

Toyo Seikan: latest movements in 2019/2020
A Japanese metal giant with a significant presence in beverages
Businesses slipped in FY2019 due to impacts from COVID-19
Toyo Seikan’s p ackaging b usinesses : snapshot of 2019/2020
Impact of COVID-19 on Toyo Seikan (1)
Impact of COVID-19 on Toyo Seikan (2)
Toyo S eikan’s strategy on sustainability (1)
Toyo S eikan’s strategy on sustainability (2)
The world’s lightest aluminium can as NPD direction
SWOT: Toyo Seikan Group Holdings Ltd
Strategic objectives and challenges

Market Assessment

Japan remains the top off-trade soft drinks market by value
Beverages remains the largest and most dynamic user of PET
Beer and sports and energy drinks to drive beverage can volumes
Metal aerosol cans are mainly found in beauty and home care
Plastic screw closures keep prevailing in global retail closures

Category and Geographic Opportunities

PET bottles to benefit from Asia Pacific in soft drinks packaging
Beverages with health and convenience drives PET bottles
Strong prospects for bottled water in China, the US and Indonesia
Rising demand for bottled water increases need for screw closures
Asia Pacific will boost metal beverage cans for beer
Beverage cans for RTDs will be driven by North America
Rise of RTDs in North East Asia offer new opportunities for cans
RTDs innovation example: Lemon-Do in Asia
Category blurring brings new opportunities to cans
Beverage cans continue to benefit from energy drinks
Deodorants remain a long-term opportunity in Asia
Food cans face competition from pouches and liquid cartons
Increasing consumer usage benefits pouches
Sustainability is the key priority for packaging makers post-COVID-19

Operations

Toyo Seikan Group companies
Principal manufacturing facilities

Recommendations

Looking forward
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