Thailand Foodservice Market Size and Trends by Profit and Cost Sector Channels, Players and Forecast to 2027

Thailand Foodservice Market Size and Trends by Profit and Cost Sector Channels, Players and Forecast to 2027

Summary

“Thailand Foodservice Market Size and Trends by Profit and Cost Sector Channels, Players and Forecast to 2027” published by GlobalData provides extensive insight and analysis of the Thai Foodservice market over the next five years (2022-27) and acts as a vital point of reference for operators or suppliers.

Thailand’s economy expanded by 7.1% in 2022, bolstered by improved domestic consumption, supportive policy settings, and a mild recovery in inbound tourism. The economy is expected to grow in 2023. Consumer price inflation rose to 6.1% from 1.2% in 2021, triggered by an upswing in food and oil prices. The total revenue of the Thai profit sector was estimated at THB1.6 trillion ($46.9 billion) in 2022, decelerating at a negative CAGR of 4.2% during 2017-22. The economic slowdown during 2020 and 2021, coupled with high inflation, adversely impacted foodservice sales. The quick-service restaurants (QSR) channel continues to be the largest foodservice channel in terms of value sales.

The report includes -

• Overview of Thailand's macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the Thai foodservice market including GDP per capita, consumer price index, population growth, and annual household income distribution.
• Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR, and coffee & tea shop) within the Thai foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
• Customer segmentation: Identify the most important demographic groups, buying habits, and motivations that drive out-of-home meal occasions among segments of the Thai population.
• Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.

Scope

• The Thai profit sector’s revenues totaled THB1.6 trillion ($46.9 billion) in 2022, reflecting a negative CAGR of 4.2% during 2017-22. The economic downturn during 2020 and 2021, and high inflation, hindered foodservice sales. However, the sector recovered in 2022, thanks to robust economic growth, which restored consumer confidence and played a crucial role in fueling demand at foodservice establishments.
• QSR has remained popular among budget-conscious consumers due to its affordable offerings.
• Consumers visiting QSRs are influenced by the impact of menu items on their health and wellbeing. Therefore, operators need to focus on offering healthy menu options, which include enjoyable and risk-free ingredients.
• Thai is the most favored cuisine in Thailand followed by Italian and pizza & pasta and Japanese cuisines (inc. sushi). Consumers’ wish to experiment with different cuisine types means that operators need to include a wide variety of dishes in their menus.

Reasons to Buy

• Specific forecasts of the foodservice market over the next five years (2022-27) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
• Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, coffee & tea shop, and pub, club & bar) will allow readers understand the wants and needs of their target demographics.