KResearch is of the opinion that the bio, circular and green (BCG) model is suitable for steering industries towards sustainable development, with the food and agriculture sector as a major driver. Biological diversity and the current COVID-19 situation could be deemed major turning points in the wellness trend and food security, and are expected to hasten the need for Thailand to elevate the quality and quantity of its farm products in line with global trends. This may be challenging, and it may take more than five years to establish the process of upgrading upstream agricultural production within the BCG framework. Looking ahead, a multitude of conditions and challenges exist, especially manufacturing readiness and Agritech tools.
KResearch views the approach of reusing agricultural waste to generate added value to be compatible with achieving the target of zero waste, especially in the case of bioplastics. For instance, bioplastic made from the skin of the durian fruit is projected to be worth THB 3.6-7.3 billion within the next five years, provided that approximately 5-10 percent of all durian skin across the country can be gathered for this purpose. The main challenge remains the collection of agricultural waste. Such a process may require efficient management for collection, logistics and storage systems to ensure that the waste remains in optimal condition for further processing. Another challenge lies in the high price of bioplastics, which may limit the demand for these materials to certain consumer groups.
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