Growth rate of FMCG sector Thailand 2020-2023

Thailand's fast-moving consumer goods (FMCG) market size decreased by 3.3 percent in the fourth quarter of 2023. This was a slight increase compared to the same quarter of the previous year. In Thailand, provision stores are the leading selling channel for FMCG products.

FMCGs in Thai households

FMCGs are the largest expense item for Thai households due to the prominence of the food and non-alcoholic beverage categories. Instant noodles were one of the leading products in the country, with a sales volume of nearly 25,000 metric tons as of 2024. Noodles are a staple of Thai convenience food, and the Mama brand of instant noodles is integral to the Thai noodle scene. In Thailand, the word "Mama" is commonly used to describe instant noodles.

Made-in-China FMCGs dominate the market

Thailand has become increasingly dependent on FMCGs produced in China. In 2023, the value of FMCG imports from China to Thailand amounted to almost 470 billion Thai baht, accounting for almost 41 percent of the total FMCG imports in the country. With this influx of Chinese goods, Thailand's small- and medium-sized enterprises have been severely affected. To protect local enterprises that are vital to Thailand’s economy, the government has been imposing a seven percent value-added tax on Chinese goods that are routed through Thailand’s free trade zones.