Key regions: Canada, China, Spain, Japan, Philippines
The Convenience Food Market in Thailand is experiencing minimal growth, influenced by factors like the increasing popularity of ready-to-eat meals and soups, as well as the convenience of online food services. This market's slow growth rate may be impacted by factors such as consumer preference for traditional, freshly prepared meals and concerns about the healthiness of convenience foods.
Customer preferences: Consumers in Thailand are increasingly turning to convenience food options due to the fast-paced and busy lifestyle in urban areas. This has led to a rise in demand for healthier and more nutritious convenience food options, such as organic and plant-based meals. Additionally, with the growing health and wellness trend in the country, there is a preference for convenience foods that are low in calories and high in protein. The shift towards healthier convenience food options is also driven by the increasing awareness of the negative health effects of processed and unhealthy foods.
Trends in the market: In Thailand, the Convenience Food Market is experiencing a surge in demand for healthier and more sustainable options. This trend is driven by the growing health consciousness among consumers and the increasing awareness of the environmental impact of food production. To cater to this demand, companies are introducing more plant-based and organic convenience food products. This trajectory is expected to continue as consumers prioritize health and sustainability, presenting significant opportunities for industry stakeholders to innovate and differentiate their offerings. Additionally, the rise of e-commerce and digital platforms in Thailand is creating new avenues for convenience food market players to reach and engage with customers, further driving the growth of the market.
Local special circumstances: In Thailand, the Convenience Food Market within The Food market is heavily influenced by the country's bustling street food culture and the widespread availability of affordable ready-to-eat meals. Additionally, the convenience store industry in Thailand is highly competitive, driving innovation and customization to cater to the unique taste preferences of Thai consumers. The government's push for a healthier population has also led to the rise of healthier convenience food options, such as fresh fruit and vegetable snacks, in the market.
Underlying macroeconomic factors: The Convenience Food Market in Thailand is heavily impacted by macroeconomic factors such as consumer spending power, trade policies, and government regulations. As the Thai economy continues to grow and consumer spending power increases, the demand for convenience food products is expected to rise. Additionally, the country's participation in international trade agreements has opened up opportunities for foreign investment and trade, further driving market growth. However, fluctuations in exchange rates and changes in import/export policies can also impact the market. Furthermore, government initiatives to promote healthy eating habits and regulate food safety standards can have a significant influence on the performance of the Convenience Food Market in Thailand.
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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