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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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.
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.
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.
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