Staple foods in 2024: The big picture
Staple foods in Thailand is set to experience a positive performance in 2024, with growth anticipated in both retail volume and current value terms. While unit price growth has been stabilising for most categories, climate challenges continue to affect global production, leaving the industry vulnerable to extreme weather events.
Key trends in 2024
In 2024, staple foods has continued to follow trends established in 2023, with a strong emphasis on flavour innovation to attract consumers’ interest, and an increasing focus on health and wellness, which is reshaping consumers’ behaviour and consumption habits. In addition, brand collaborations have grown in importance, enabling companies to leverage each other’s expertise to broaden their brand reach and capitalise on the latest marketing trends.
Competitive landscape
The competitive landscape within staple foods in Thailand is highly fragmented, consisting of many domestic players, a few prominent global brands, and private label. Thai President Foods Public Co Ltd is expected to remain the leading player in value terms in 2024, thanks to its leading position in rice, pasta and noodles.
Channel developments
Similar to 2023, grocery retailers is expected to continue to dominate retail value sales of staple foods in Thailand in 2024, with hypermarkets capturing a slightly larger share than small local grocers. This reflects a dual shopping trend amongst Thai consumers – carrying out one large weekly shop at hypermarkets, while making frequent smaller trips to local outlets.
What next for staple foods?
Over the forecast period, staple foods in Thailand is expected to maintain retail volume and current value growth. The industry will be shaped by nutrition and value, which will remain the key factors influencing consumers’ food choices and purchasing behaviour.
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Overview:
Understand the latest market trends and future growth opportunities for the Staple Foods industry in Thailand with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Staple Foods industry in Thailand, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Staple Foods in Thailand report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Staple Foods in Thailand?
- Which are the leading brands in Staple Foods in Thailand?
- How are products distributed in Staple Foods in Thailand?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Staple Foods?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Thailand?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Staple Foods in Thailand
Staple foods in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for staple foods?
DISCLAIMER
Baked Goods in Thailand
KEY DATA FINDINGS
Steady growth recorded for baked goods in 2024
Farmhouse brand continues to lead baked goods
Convenience and indulgence trends continue to drive innovation
Increased consumer interest in baked goods to drive continued growth in demand
Fun marketing strategies will continue to be used by foodservice players to engage consumers
Players will respond to the increasing demand for health and wellness in baked goods
Breakfast Cereals in Thailand
KEY DATA FINDINGS
Breakfast cereals sees continued growth as inflationary pressures ease
Muesli and granola benefits from health-focused innovations
Quaker continues to lead hot cereals
Breakfast cereals set to see modest growth, with convenience and product availability remaining important growth drivers
Health and wellness trend will influence consumer choice, but not in all categories
Flavour innovations will continue to pique consumers’ interest
Processed Fruit and Vegetables in Thailand
KEY DATA FINDINGS
Low retail volume growth for processed fruit and vegetables in 2024
Tourist influx drives foodservice volume growth for processed fruit and vegetables
Health and wellness trend drives greater product variety and better labelling for frozen processed vegetables
Demand for convenience will drive consumer demand for frozen processed vegetables and potatoes
Uneven growth across shelf stable fruit and vegetables over the forecast period
Sustainability efforts to increase as environmental concerns rise
Processed Meat, Seafood and Alternatives To Meat in Thailand
KEY DATA FINDINGS
Processed meat, seafood and alternatives to meat continues to see both retail value and volume growth in 2024
Convenience trend drives new product innovation by players in processed seafood
Consumers are increasingly focused on health claims for processed products
Processed meat and seafood to see moderate growth in demand, driven by affordability
Opportunities for growth in chilled and frozen processed meat through premiumisation
More plant-based and sustainable options set to drive growth in the forecast period
Rice, Pasta and Noodles in Thailand
KEY DATA FINDINGS
Retail volumes continue to grow across categories in rice, pasta and noodles
Increased competition for local players, due to more imported brands
Flavour innovation sustains consumer interest in instant noodles
Rice, pasta and noodles set to see steady demand over the forecast period
Healthier eating trend will drive further product innovation
Government health associations continue to promote healthier eating
The following categories and subcategories are included:
Staple Foods
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- Packaged Flat Bread
- Unpackaged Flat Bread
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- Packaged Leavened Bread
- Unpackaged Leavened Bread
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- Packaged Cakes
- Unpackaged Cakes
- Dessert Mixes
- Frozen Baked Goods
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- Packaged Pastries
- Unpackaged Pastries
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- Sweet Pies and Tarts
- Frozen Cakes, Sweet Pies and Tarts
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- Hot Cereals
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- Children's Breakfast Cereals
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- Flakes
- Muesli and Granola
- Other RTE Cereals
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- Shelf Stable Beans
- Shelf Stable Fruit
- Shelf Stable Tomatoes
- Shelf Stable Vegetables
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- Frozen Fruit
- Frozen Processed Potatoes
- Frozen Processed Vegetables
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- Shelf Stable Processed Red Meat
- Shelf Stable Processed Poultry
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- Chilled Processed Red Meat
- Chilled Processed Poultry
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- Frozen Processed Red Meat
- Frozen Processed Poultry
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- Shelf Stable Seafood
- Chilled Processed Seafood
- Frozen Processed Seafood
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- Chilled Meat and Seafood Substitutes
- Frozen Meat and Seafood Substitutes
- Shelf Stable Meat and Seafood Substitutes
- Tofu and Derivatives
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- Chilled Noodles
- Frozen Noodles
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- Instant Noodle Cups
- Instant Noodle Pouches
- Plain Noodles
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- Chilled Pasta
- Dried Pasta
- Rice
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Staple Foods
NOTE: Couscous, polenta and quinoa are excluded from staple foods.
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This report originates from Passport, our Staple Foods research and analysis database.
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