Key regions: South Korea, Philippines, Canada, United States, Japan
The Spreads & Sweeteners Market in Thailand is experiencing slow growth, influenced by factors such as consumer preference for natural sweeteners like honey, increasing health consciousness, and the availability of artificial sweeteners. The negligible growth rate is also impacted by changing dietary habits and government regulations on sugar consumption.
Customer preferences: Consumers in Thailand are increasingly opting for natural and organic sweeteners in their food products, reflecting a growing awareness of health and wellness. This trend is also driven by a preference for traditional ingredients and flavors in local cuisine. Additionally, with the rise of the health-conscious younger generation, there is a rising demand for low-calorie and sugar-free sweeteners, as well as alternative options such as stevia and monk fruit. This shift towards healthier alternatives is further fueled by the government's efforts to promote healthy eating habits and reduce obesity rates.
Trends in the market: In Thailand, the Sweeteners Market of the Spreads & Sweeteners Market within The Food market is experiencing a surge in demand for natural and alternative sweeteners, such as stevia and monk fruit extract. This trend is driven by a growing health consciousness among consumers and their desire for healthier options. Additionally, there is a rise in the use of sweeteners in processed foods and beverages, as manufacturers look to reduce sugar content to meet government regulations. This shift towards healthier and more diverse sweeteners is expected to continue, presenting opportunities for industry stakeholders to innovate and cater to changing consumer preferences.
Local special circumstances: In Thailand, the Sweeteners Market within the Spreads & Sweeteners Market of The Food market is heavily influenced by the country's tropical climate and traditional cuisine. The demand for natural sweeteners like palm sugar and coconut sugar is high due to their use in popular dishes such as Thai curries and desserts. Additionally, the Thai government has strict regulations on artificial sweeteners, limiting their use and availability in the market. This has led to a unique market dynamic where natural sweeteners dominate and manufacturers must adapt their products to cater to local preferences and regulations.
Underlying macroeconomic factors: The Sweeteners Market of the Spreads & Sweeteners Market within The Food market is significantly impacted by macroeconomic factors in Thailand, such as consumer spending habits, inflation rates, and government policies. The country's economic health, as well as global economic trends, play a crucial role in shaping market performance. For instance, a stable economy with low inflation rates can encourage consumer spending and promote market growth. Additionally, government policies, such as tax reforms and trade agreements, can impact market dynamics and create new opportunities for market players. The increasing health consciousness among consumers and the rising prevalence of chronic diseases are also driving the demand for healthier sweetener alternatives, further influencing the market growth 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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