Key regions: South Korea, India, United Kingdom, United States, Japan
The Baby Milk & Infant Formula Market in Thailand is experiencing stagnant growth due to factors such as declining birth rates and increasing awareness of breastfeeding benefits. Convenience of online options and health consciousness still contribute to this market's growth.
Customer preferences: As more Thai mothers enter the workforce, demand for baby milk and infant formula has risen, leading to a growing market for convenient and on-the-go packaging. Additionally, there is a growing preference for organic and natural options, as health consciousness and environmental concerns drive purchasing decisions. This trend is also reflected in the increasing popularity of online shopping for baby food products, as busy parents seek convenience and a wider selection of options.
Trends in the market: In Thailand, the Baby Milk & Infant Formula Market within the Baby Food Market is experiencing a shift towards organic and natural products. This trend is driven by growing health consciousness among parents and concerns about the safety of conventional formula. Additionally, there is an increasing demand for premium products, with a focus on ingredients sourced from trusted and transparent suppliers. This trend is expected to continue, presenting opportunities for industry players to expand their product offerings and cater to the evolving preferences of consumers. It also highlights the need for companies to prioritize transparency and safety in their supply chain to maintain consumer trust.
Local special circumstances: In Thailand, the Baby Milk & Infant Formula Market of the Baby Food Market within The Food market is heavily influenced by cultural factors. Breastfeeding is highly encouraged and deeply ingrained in Thai culture, leading to a lower demand for infant formula. However, with the increasing number of working mothers and urbanization, the market is seeing a shift towards convenience and affordability, driving the demand for infant formula. Additionally, strict regulations on marketing and labeling of infant formula products also play a significant role in shaping the market dynamics in Thailand.
Underlying macroeconomic factors: The Baby Milk & Infant Formula Market of the Baby Food Market within The Food market in Thailand is heavily influenced by macroeconomic factors such as the country's economic health, government policies, and global economic trends. The rise in disposable income and changing lifestyles are fueling the demand for convenience and premium baby food products. Additionally, government initiatives aimed at promoting breastfeeding and regulating the marketing of infant formula are impacting market performance. The growing population and increasing urbanization are also driving the demand for infant formula in the country.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
