Key regions: India, United States, Japan, United Kingdom, China
The bread market in Thailand has been experiencing minimal growth due to various factors such as low consumer demand, limited availability of quality ingredients, and competition from other food products. Despite these challenges, the convenience and affordability of bread products continue to drive the market forward.
Customer preferences: As consumers in Thailand become more health-conscious, there is a growing demand for healthier and more diverse options in the Bread Market of the Bread & Cereal Products Market. This trend is driven by a shift towards healthier lifestyles and an increase in disposable income. Additionally, there has been a rise in demand for artisanal and gluten-free breads, as well as a growing interest in locally sourced and organic ingredients. These preferences reflect a broader global trend towards sustainable and ethical consumption, as well as a desire for transparency and authenticity in food products.
Trends in the market: In Thailand, the Bread Market of the Bread & Cereal Products Market within The Food market is experiencing a surge in demand for healthy and artisanal breads. This trend is driven by the increasing health consciousness among consumers and the rising popularity of international cuisines. With the growing availability of specialty breads in supermarkets and bakeries, the market is expected to witness further growth. This presents opportunities for industry players to diversify their product offerings and cater to the evolving consumer preferences. Additionally, the rise of e-commerce and online food delivery services is expected to drive the growth of the Bread Market in Thailand, as more consumers opt for the convenience of online shopping.
Local special circumstances: In Thailand, the Bread Market of the Bread & Cereal Products Market within The Food market is strongly influenced by the country's Buddhist culture, which promotes vegetarianism and the consumption of rice over wheat. Additionally, the tropical climate and abundance of fresh fruits and vegetables contribute to a preference for lighter, healthier bread options. The government's strict regulations on food safety and labeling also play a significant role in shaping consumer choices in this market. Furthermore, the growing tourism industry in Thailand has led to an increasing demand for international bread products, creating a unique market segment for imported bread.
Underlying macroeconomic factors: The Bread Market of the Bread & Cereal Products Market within The Food market in Thailand is heavily influenced by macroeconomic factors such as consumer purchasing power, economic stability, and government policies. The overall economic growth of Thailand, as well as its stable political climate, have resulted in a growing middle class with higher disposable incomes, leading to increased demand for bread and cereal products. Additionally, government initiatives to promote healthy eating habits and the growing trend of Western-style diets in the country have further boosted the demand for these products. However, challenges such as rising inflation and fluctuating exchange rates may impact market growth in the future.
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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