Key regions: Philippines, United States, Canada, India, China
The Bread & Cereal Products Market in Thailand is experiencing slow growth due to factors such as economic challenges, low consumer purchasing power, and competition from traditional Thai food. However, the increasing health consciousness among consumers and the convenience of online shopping are providing some opportunities for growth. Overall, the market is projected to continue its minimal growth rate in the near future.
Customer preferences: As consumers become more health-conscious, there is a growing demand for healthier and more nutritious options in the Bread & Cereal Products Market. This trend is influenced by cultural preferences for fresh and natural ingredients, as well as a desire to maintain a balanced and active lifestyle. As a result, there has been an increase in the availability of organic and gluten-free options, as well as a rise in popularity of ancient grains such as quinoa and amaranth. Furthermore, there is a growing interest in plant-based and vegan options, driven by a shift towards environmentally-friendly and ethical consumption choices.
Trends in the market: In Thailand, the Bread & Cereal Products Market within The Food market is experiencing a shift towards healthier and more diverse options. This trend is driven by the increasing health consciousness and demand for convenience among consumers. As a result, there is a growing demand for gluten-free, organic, and plant-based options in the market. This trend is expected to continue, with industry players investing in product innovation and marketing strategies to cater to the changing consumer preferences. This presents opportunities for industry stakeholders to tap into a growing market segment and differentiate themselves from traditional players.
Local special circumstances: In Thailand, the Bread & Cereal Products Market is heavily influenced by the country's rich agricultural resources, with rice being a staple food. This has led to a strong demand for locally-produced rice-based products such as rice noodles and rice crackers. Additionally, the Buddhist majority population's preference for vegetarian and plant-based diets has fueled the growth of the market for cereal-based products. The government's strict regulations on food safety and labeling also play a significant role in shaping the market, ensuring that products meet the standards of halal and vegetarian certifications.
Underlying macroeconomic factors: The Bread & Cereal Products Market within The Food market in Thailand is heavily influenced by macroeconomic factors such as the country's economic growth, trade policies, and consumer spending. Thailand's strong economic growth and stable political environment have led to a growing middle class with increasing disposable income, which has resulted in a higher demand for convenient and healthy food options. Additionally, government initiatives to promote healthy eating habits and the rise of health-conscious consumers have further driven the growth of the Bread & Cereal Products Market in Thailand. Furthermore, with Thailand being a major exporter of rice and other grains, global economic trends and trade policies also have a significant impact on the market. Any changes in global demand or trade agreements can have a direct effect on the production and pricing of bread and cereal products in Thailand, thus influencing market performance.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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