Thailand

Personal luxury retail sales increased by 14% in current value terms to reach THB83 billion in 2023, taking them above 2019 levels for the first time since the pandemic arrived in Thailand. The category performance was supported by growth recorded by…

In 2023, luxury goods in Thailand continued to see an impressive recovery from the declines it recorded during the pandemic. This resurgence can be attributed to both the increase in spending among local consumers as well as the return of…

Value sales of fine wines/champagne and spirits grew by 14% in current value terms to reach THB3.6 billion in 2023 as this category continued its recovery from the sales it lost during the pandemic. This performance is being driven by, among other…

The restrictions imposed on inbound tourism by the Thai Government in an effort to limit the spread of COVID-19 had a severe negative impact on the travel industry, including hotels. Experiential luxury, which is dominated by luxury hotels, saw its…

Consumers’ return to busy, on-the-go lifestyles post-pandemic is bolstering sales of grab-and-go consumption. This is also benefitting yoghurt, which also enjoys a healthy image – especially single-serving, grab-and-go sales from convenience stores…

Health and wellness trends continue to boost the popularity of plant-based dairy in Thailand. This is being driven by low-fat and low-sugar demands, as well as providing options for consumers who are allergic or intolerant to cow’s milk. Such factors…

Thailand’s return to out-of-home lifestyles, following the era of the pandemic, has and continues to benefit sales through foodservice channels. Indeed, tourism is reviving, and consumers’ busier, on-the-go lifestyles mean both dine-in and…

Milk is one of the products in dairy which has been strongly affected by associative price hikes seen in raw materials and ingredients, labour, and logistics. Therefore, a number of players were forced to increase their prices, whilst other kept…

Inflationary pressures continue in 2023, although to a lesser extent than seen in 2022. Within this context, various players decided to increase their prices in order to protect their margins from their own higher costs – especially so in drinking…

As cheese in not typically a main ingredient in Thai cuisine, tourism is an integral factor towards sales and, thus, cheese was affected by the event of the COVID-19 pandemic due to the lack of tourism during this time. As such, cheese manufacturers…

Butter and spreads is benefitting from the resumption of tourism following the reopening of society after the pandemic years. Indeed, Thailand’s tourism trade is again booming, which positively impacts sales via foodservice channels. Many sales of…

Baby food is seeing positive value and volume growth in 2023, supported by the return to normality following the era of the COVID-19 pandemic and, in turn, consumers’ return to out-of-home lifestyles – despite the sluggish birth rates in Thailand…

In its second edition, the EV Readiness Index 2023 indicates the best prepared markets for the electric vehicle (EV) transition. This follows growing EV take-up, with new electric passenger car registrations set to reach 20% of total registrations…

Thailand's per capita income is set to rise by 17.9% from 2022 to 2027. Middle Youth will continue to lead luxury spending, while income inequality will decrease. Social class C will grow fastest, but social class D will remain dominant. Bangkok will…

COVID-19 had a major impact on sales of alcoholic drinks in Thailand in 2020, with foodservice consumption plummeting as establishments in this channel were closed for extended periods, with other restrictions also hitting sales in this channel.…

As of 1 October 2022, Thailand fully lifted all pandemic-related border requirements. To enter the country, international travellers no longer needed to show proof of vaccination, or a negative COVID-19 test. This resulted in a strong recovery for…

The volume of inbound arrivals increased for the second consecutive year in 2023, following the lifting of all remaining COVID-19 related entry restrictions in October 2022. The return of tourists from other countries in Asia-Pacific, notably China,…

Lodging in Thailand continued to bounce back in 2023, with the number of room nights in hotels exceeding pre-pandemic levels. This buoyancy of demand allowed certain hotels to raise their room prices, as they were confident about attracting more…

Retail sales of bookings continued to grow strongly in constant value terms in 2023 as they edged even closer to pre-pandemic levels. While offline booking saw a strong recovery, online booking still accounted for more than two thirds of retail…

The number of people travelling via air saw triple-digit growth for the second consecutive year in 2023, with volumes exceeding pre-pandemic levels. The return of tourists from other countries in Asia-Pacific, notably China, was a key contributor to…