Key regions: Spain, Canada, United Kingdom, United States, Philippines
The Dairy Products & Eggs Market in Thailand is experiencing modest growth, influenced by factors such as the increasing demand for dairy products and eggs, changing consumer preferences towards healthier food options, and the convenience of online shopping. Despite this, the market is facing challenges such as rising production costs and limited availability of raw materials, which are impacting the overall growth rate. However, the market is expected to continue its steady growth trajectory in the coming years.
Customer preferences: Consumers in Thailand are becoming more health-conscious and are seeking out dairy products and eggs that are free from hormones and antibiotics. This trend is driven by a growing awareness of the impact of food on overall health and wellness. Additionally, there is a growing demand for organic and plant-based options, as well as a shift towards sustainable and ethical sourcing of dairy and eggs. This is influenced by cultural values and a desire for environmentally-friendly products. As a result, companies in the dairy and eggs market are adapting to cater to these changing consumer preferences, offering a wider range of healthy and sustainable options.
Trends in the market: In Thailand, the Dairy Products & Eggs Market within The Food market is experiencing a surge in demand for organic and natural products, as consumers become more health-conscious and environmentally aware. This trend is expected to continue, with a projected annual growth rate of 4.8% from 2021 to 2028. This presents opportunities for industry stakeholders to develop and market sustainable and healthy options to meet the changing consumer preferences. Additionally, the rise of e-commerce and online grocery shopping is expected to boost the sales of dairy and egg products, creating new avenues for market growth.
Local special circumstances: In Thailand, the Dairy Products & Eggs Market is heavily influenced by the country's tropical climate and Buddhist culture, which have led to a high demand for dairy products such as coconut milk and eggs used in traditional dishes like curries and desserts. Additionally, the government has implemented strict regulations on dairy imports, creating a unique market for locally-produced dairy products. This has also resulted in a strong demand for organic and sustainable dairy options, as Thai consumers become increasingly health-conscious.
Underlying macroeconomic factors: The Dairy Products & Eggs Market within The Food market in Thailand is significantly impacted by macroeconomic factors such as economic stability, trade policies, and consumer spending. The country's strong agricultural sector and increasing government investments in the dairy industry have contributed to the market's growth. Additionally, the growing health consciousness and demand for high-quality products have also driven the demand for dairy and egg products in the country. However, the market may face challenges due to global economic uncertainties and potential trade conflicts.
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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