Key regions: Russia, Spain, South Korea, Philippines, United States
The Yogurt Market in Thailand has been slowly growing due to factors such as a rising health consciousness among consumers and the convenience of online health services. This minimal growth rate is impacted by various factors such as the availability of alternative dairy products and the economic downturn in the country.
Customer preferences: With the rise of health-consciousness and the increasing popularity of plant-based diets, the demand for dairy-free yogurt options has grown in Thailand. This trend is driven by the growing number of consumers who are lactose intolerant or have dairy allergies. Additionally, there is a growing preference for yogurt made from alternative sources such as soy, almond, and coconut milk, catering to the preferences of vegan and vegetarian consumers. This shift towards non-dairy yogurt options reflects the evolving lifestyle and dietary choices of the Thai population.
Trends in the market: In Thailand, the Yogurt Market within the Dairy Products & Eggs Market is experiencing a shift towards more health-conscious products, with an emphasis on probiotic and organic options. This trend is driven by a growing awareness and interest in gut health and overall wellness among consumers. Additionally, there is an increase in demand for plant-based and lactose-free yogurt alternatives. These trends are expected to continue, driven by a combination of consumer preferences and industry innovations. As a result, industry stakeholders should focus on diversifying their product offerings and investing in research and development to stay competitive in the market.
Local special circumstances: In Thailand, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's tropical climate and strong agricultural sector. These factors contribute to a wide variety of locally-sourced, fresh and flavorful ingredients used in yogurt production. Additionally, the Buddhist culture in Thailand promotes vegetarianism, leading to a high demand for dairy alternatives, such as coconut and soy-based yogurts. The government's strict food safety regulations also ensure high-quality and safe products for consumers. These unique local factors contribute to the dynamic and growing yogurt market in Thailand.
Underlying macroeconomic factors: The Yogurt Market of the Dairy Products & Eggs Market within The Food market in Thailand is greatly influenced by macroeconomic factors such as consumer spending, government policies, and global economic trends. As the economy of Thailand continues to grow, with a steady increase in GDP and disposable income, there is a higher demand for healthy and convenient food options, including yogurt. Additionally, favorable government policies and investments in the dairy industry have further boosted the growth of the yogurt market in Thailand. Furthermore, the adoption of Western dietary habits and the increasing health consciousness among consumers have also contributed to the market's growth.
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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