Key regions: Canada, Philippines, China, Spain, India
The Spreads Market in Thailand is experiencing minimal growth, influenced by factors such as consumer preference for traditional spreads, limited awareness of alternative options, and the dominance of local brands. However, the increasing popularity of health-conscious lifestyles and the convenience of online shopping are expected to drive growth in sub-markets such as Jams & Marmalades, Chocolate Spreads, and Peanut Butter.
Customer preferences: Consumers in Thailand are increasingly shifting towards healthier food options, driving the demand for natural and organic spreads and sweeteners. This trend is influenced by the growing health consciousness and preference for clean-label products. Moreover, the rising disposable income and urbanization have led to a shift towards Western-style diets, further driving the demand for spreads and sweeteners made from natural ingredients. Additionally, the rise of social media and influencer culture has also played a role in promoting the consumption of healthier food options.
Trends in the market: In Thailand, the Spreads & Sweeteners Market is experiencing a shift towards healthier and natural alternatives, driven by consumer demand for clean label products. This trend is expected to continue, with manufacturers incorporating more natural ingredients and reducing the use of artificial sweeteners. Additionally, there is a growing interest in plant-based spreads, such as nut butters and fruit spreads, as consumers become more health-conscious. This trend is significant for industry stakeholders, as it presents an opportunity for new product development and marketing strategies. However, it also poses challenges for traditional spreads and sweeteners manufacturers, who may need to adapt their formulations and production processes to meet changing consumer preferences.
Local special circumstances: In Thailand, the Spreads & Sweeteners Market within The Food market is heavily influenced by cultural preferences and local tastes. Traditional Thai desserts often include spreads and sweeteners such as coconut milk, palm sugar, and condensed milk. This has led to a high demand for these products in the Spreads Market. Additionally, the country's tropical climate and abundance of agriculture resources have allowed for the production of unique and flavorful spreads and sweeteners, further driving the market. However, strict regulations on food imports and advertising have also impacted market dynamics, creating challenges for foreign brands entering the market.
Underlying macroeconomic factors: The Spreads Market of the Spreads & Sweeteners Market within The Food market in Thailand is heavily influenced by macroeconomic factors such as consumer spending, disposable income, and economic stability. As the Thai economy has been experiencing steady growth in recent years, consumers are increasingly willing to spend on premium food products, including spreads and sweeteners. Additionally, the government's efforts to promote healthy food choices and regulate the food industry have had a positive impact on market performance. However, the market is also affected by global economic trends, such as fluctuations in commodity prices, which can impact the cost of raw materials and ultimately the price of spreads and sweeteners. Furthermore, fiscal policies, such as taxes and tariffs, can also have a significant impact on market dynamics. Overall, a favorable economic environment and government support for the food industry are driving the growth of the Spreads 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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