Key regions: Japan, India, China, United Kingdom, South Korea
The Snack Food market in Thailand's Confectionery & Snacks Market has been experiencing minimal growth due to factors such as increased health consciousness among consumers, the convenience of online food services, and the rising popularity of healthier snack options such as Tortilla Chips, Flips & Pretzels, Potato Chips, and Cookies & Crackers. These sub-markets have played a significant role in shaping the overall market's growth rate.
Customer preferences: In Thailand, the Snack Food Market of the Confectionery & Snacks Market within The Food market has seen a rise in demand for healthier snack options, driven by a growing health-conscious consumer base. This has led to the emergence of innovative snack products incorporating local ingredients such as fruits and grains. Additionally, with the increase in urbanization and busy lifestyles, there is a growing preference for on-the-go snack options, leading to a rise in sales of convenience store snacks.
Trends in the market: In Thailand, the Snack Food market is experiencing a shift towards healthier options, with consumers seeking out snacks made from natural ingredients and free from artificial additives. This trend is expected to continue as health-consciousness grows among Thai consumers. Additionally, the market is seeing a rise in demand for snacks that cater to specific dietary needs, such as gluten-free, vegetarian, and vegan options. These trends have significant implications for industry stakeholders, who must adapt to meet the changing demands of consumers and capitalize on the growing demand for healthier and more personalized snack options.
Local special circumstances: In Thailand, the Snack Food Market of the Confectionery & Snacks Market within The Food market is heavily influenced by the country's unique cultural and geographical factors. Thai cuisine is known for its bold and exotic flavors, leading to a demand for snacks that reflect these tastes. Additionally, the country's tropical climate has led to the popularity of fresh and healthy snack options. Moreover, Thailand's strict regulations on food additives have forced snack manufacturers to use natural ingredients, catering to the growing consumer preference for clean and healthy snacks. These factors have contributed to the dynamic and diverse Snack Food Market in Thailand.
Underlying macroeconomic factors: The Snack Food Market of the Confectionery & Snacks Market within The Food market in Thailand is influenced by various macroeconomic factors. With the country's stable economic growth and favorable policies for foreign investments, Thailand has become an attractive market for snack food companies. Additionally, the growing trend of consumer preference for convenience and on-the-go snacks has further fueled the market growth. Furthermore, the rise in disposable income and changing consumer lifestyles have also contributed to the increasing demand for snack foods in the country. On the global level, the increasing awareness towards healthy snacking options and the demand for natural and organic products are also influencing the market. These factors are expected to continue driving the growth of the Snack Food Market in Thailand in the coming years.
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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