Key regions: Russia, India, Canada, Japan, South Korea
The Milk market in Thailand is seeing minimal growth, influenced by factors such as changing consumer preferences, increasing competition, and fluctuations in milk prices. Despite this, the Dairy Products & Eggs Market within The Food market is expected to continue growing due to rising demand for dairy products and government initiatives to promote the dairy industry.
Customer preferences: The Milk Market of the Dairy Products & Eggs Market within The Food market in Thailand has seen a significant increase in demand for organic and locally sourced milk products. This shift is driven by the growing preference for natural and sustainable food options among Thai consumers. Additionally, there has been a rise in lactose-free and plant-based milk alternatives, catering to the needs of lactose-intolerant and vegan consumers. This trend is influenced by the rising health consciousness and ethical considerations of the younger generation.
Trends in the market: In Thailand, the Milk Market of the Dairy Products & Eggs Market within The Food market is experiencing a surge in demand for dairy alternatives, such as plant-based milk and dairy-free yogurt. This trend is driven by increasing health consciousness and dietary restrictions, as well as a growing awareness of animal welfare and environmental concerns. Industry players are responding by expanding their product offerings, investing in new production techniques, and partnering with local suppliers. This trend is expected to continue, as the market for dairy alternatives is projected to grow significantly in the coming years. As a result, stakeholders in the dairy industry need to adapt to changing consumer preferences and align their strategies to capitalize on this trend. This may involve diversifying their product portfolio, investing in research and development, and strengthening partnerships with suppliers and retailers. Failure to do so may result in losing market share to competitors and missing out on potential growth opportunities in the dairy market.
Local special circumstances: In Thailand, the Milk Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's tropical climate and agricultural practices. Due to the hot and humid weather, there is a high demand for fresh and chilled milk products, leading to a thriving market for dairy farmers. Additionally, the Thai government has implemented strict regulations for food safety, ensuring the quality and hygiene of milk products. This has contributed to the market's growth and consumer trust. Moreover, the strong Buddhist culture in Thailand has also led to a preference for vegetarian and plant-based milk alternatives, further shaping the dynamics of the Milk Market in the country.
Underlying macroeconomic factors: The Milk Market of the Dairy Products & Eggs Market within The Food market in Thailand is heavily influenced by macroeconomic factors such as consumer spending habits, government policies, and trade agreements. As a developing country with a growing middle class, Thailand has seen an increasing demand for dairy products and eggs, particularly from urban areas. Furthermore, the government's support for the agriculture sector and its investments in modern farming techniques have led to increased production and efficiency in the dairy industry. Additionally, Thailand's participation in international trade agreements has opened up opportunities for the country's dairy and egg producers to access new markets and increase their exports. Overall, strong economic growth and supportive government policies have contributed to the growth of the Milk 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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