Thailand Baby Food Market Size by Categories, Distribution Channel, Market Share and Forecast, 2022-2028

Thailand Baby Food Market Size by Categories, Distribution Channel, Market Share and Forecast, 2022-2028

Summary

“Thailand Baby Food Market Size by Categories, Distribution Channel, Market Share and Forecast, 2022-2028” is an analytical report by GlobalData which provides extensive and highly detailed current and future market trends in the Thai market.

The number of live births in Thailand declined by 28.8% during 2016-22, reaching 521,900 in 2022. This resulted in a baby population of 1.7 million in 2022. However, both the crude birth rate and total fertility rates, have fallen. The GDP of Thailand grew by 3.2% in 2022, while consumer price inflation stood at 6.2%. Overall growth in value terms has increased in recent years with the sector registering a CAGR of 2.5% during 2016-22. However, in volume terms, sales declined in 2022, with the sector falling at a negative CAGR of 3.8%. Baby milks remained by far the largest category in value terms with over 90% of the baby food sector, followed by baby cereals & dry meals. Nestlé, Danone, and Mead Johnson (Reckitt Benckiser) were the top two companies in 2022. In the same year, Nestlé was the market leader in the baby milks and cereals & dry meals category. Hypermarkets & supermarkets was the leading distribution channel in the sector in 2022, accounting for over 50% of overall value sales. GlobalData estimates that the number of live births will decrease over the forecast period in Thailand. Similarly, the market for baby food in the country is expected to decline in volume terms during 2022-28, falling at a negative CAGR of 1.3%.

What else does this report offer?

• Consumption data based upon a unique combination of industry research, fieldwork, market sizing work and our in-house expertise to offer extensive data about the trends and dynamics affecting the industry.
• Detailed profile of the companies operating and new companies considering entry in the industry along with their key focus product sectors.
• Market profile of the various product sectors with the key features & developments, segmentation, per capita trends and the various manufacturers & brands.
• Overview of baby food retailing with a mention of the major retailers in the country along with the distribution channel.
• Future projections considering various trends which are likely to affect the industry.

• Value sales of baby food increased from THB22.4 billion ($633.5 million) in 2016 to THB26 billion ($822.5 million) in 2022, at a compound annual growth rate (CAGR) of 2.5%.
• In volume terms, the sector declined from 40.97 million kg in 2016 to 32.47 million kg in 2022, decreasing at a negative CAGR of 3.8%.
• Value sales of baby milks grew from THB20.8 billion ($589 million) in 2016 to THB24.2 billion ($765.6 million) in 2022, registering a CAGR of 2.5% during this period.
• Baby cereals & dry meals volumes decreased from 2.8 million kg in 2016 to 2.08 million kg in 2022, dropping at a negative CAGR of 4.8%.
• Value sales of the baby wet meals & other category rose from THB581 million ($16.5 million) in 2016 to THB721 million ($22.8 million) in 2022, at a CAGR of 3.7%.

• Evaluate important changes in consumer behavior and identify profitable markets and areas for product innovation.
• Analyse current and forecast behavior trends in each category to identify the best opportunities to exploit.
• Detailed understanding of consumption by individual product categories in order to align your sales and marketing efforts with the latest trends in the market.
• Investigates which categories are performing the best and how this is changing market dynamics.