Key regions: United Kingdom, Spain, Japan, India, South Korea
The Spices & Culinary Herbs Market in Thailand is experiencing negligible growth, impacted by factors such as fluctuating consumer demand, changing taste preferences, and increasing competition. Despite this, the market continues to thrive due to the convenience and variety offered by online shopping options.
Customer preferences: As consumers become more health-conscious, there has been a growing trend towards using natural and organic spices and herbs in cooking. This shift is driven by the desire for clean and healthy eating, as well as increased awareness of the health benefits of certain spices and herbs. Demographic shifts towards an aging population have also led to a greater demand for spices and herbs with medicinal properties. Additionally, the rise of plant-based diets has sparked interest in using spices and herbs to add flavor and depth to vegetarian and vegan dishes.
Trends in the market: In Thailand, the Spices & Culinary Herbs Market within the Sauces & Spices Market of The Food market is experiencing a surge in demand for organic and all-natural products. This trend is driven by the increasing health consciousness among consumers and the rising popularity of traditional Thai cuisine in international markets. As a result, industry stakeholders are investing in sustainable and ethical sourcing practices and expanding their product portfolios to cater to this trend. This trajectory is expected to continue, with potential implications including higher profit margins and increased competition in the market.
Local special circumstances: In Thailand, the Spices & Culinary Herbs Market of the Sauces & Spices Market within The Food market is heavily influenced by the country's vibrant food culture and tourism industry. Thai cuisine is known for its use of flavorful spices and herbs, which has led to a high demand for these ingredients in both domestic and international markets. Additionally, the country's unique geography and climate allow for the cultivation of a wide variety of spices and herbs, making Thailand a leading exporter in the global market. Strict regulations and standards for food safety and quality also play a significant role in shaping the market, ensuring the authenticity and purity of Thai spices and herbs.
Underlying macroeconomic factors: The Spices & Culinary Herbs Market within the Sauces & Spices Market of The Food market is greatly influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. Countries with stable economies and favorable fiscal policies tend to experience higher market growth compared to those with economic instability and unfavorable policies. Additionally, increasing consumer demand for natural and organic products, as well as health-conscious lifestyles, are driving the demand for spices and culinary herbs in the market. Moreover, the growing popularity of international cuisines and the rise of the foodservice industry are also contributing to the growth of the Spices & Culinary Herbs 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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