Fresh Meat - Thailand

Thailand

Revenue in the Fresh Meat market amounts to €7.98bn in 2024. The market is expected to grow annually by 6.00% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€242bn in 2024).
In relation to total population figures, per person revenues of €110.90 are generated in 2024.
In the Fresh Meat market, volume is expected to amount to 1,636.00m kg by 2029. The Fresh Meat market is expected to show a volume growth of 4.9% in 2025.
The average volume per person in the Fresh Meat market is expected to amount to 18.5kg in 2024.

Key regions: South Korea, Russia, Canada, Philippines, China

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Región

Comparación de regiones

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Analyst Opinion

The Fresh Meat Market in Thailand has been experiencing minimal growth, influenced by factors such as fluctuating consumer demand, competition from other protein sources, and government regulations. Despite this, the market is expected to see steady growth due to increasing health awareness and the convenience of online purchasing options.

Customer preferences: As consumer awareness about the impact of meat consumption on the environment and animal welfare grows, there is a rising demand for sustainable and ethical meat options in the Fresh Meat Market of the Meat Market within The Food market. This trend is driven by the younger generation, who prioritize ethical and environmentally-friendly choices in their purchasing decisions. In addition, the increasing popularity of plant-based diets and alternative protein sources is also impacting the demand for traditional meat products. As a result, there is a growing market for innovative and sustainable meat alternatives, such as plant-based burgers and meat substitutes made from fungi or insects.

Trends in the market: In Thailand, the Fresh Meat Market of the Meat Market within The Food market is witnessing a rise in consumer demand for organic and locally sourced meat. This trend is driven by the increasing awareness of food safety and health concerns among consumers. The trajectory of this trend is expected to continue as the government implements stricter regulations on food imports and promotes the consumption of locally produced meat. This has significant implications for industry stakeholders, as it presents opportunities for local producers and retailers to cater to this growing demand, while also posing challenges for imported meat suppliers. Additionally, there is a rising trend of online meat delivery services in Thailand, driven by the convenience and safety it offers to consumers during the ongoing pandemic. This trend is expected to continue, making it crucial for industry players to adopt digital strategies and invest in e-commerce platforms to stay competitive.

Local special circumstances: In Thailand, the Fresh Meat Market within the Meat Market of The Food market is heavily influenced by the country's strong Buddhist culture and dietary preferences. This has led to a growing demand for vegetarian and plant-based meat alternatives. Additionally, Thailand's geographical location and climate make it a major exporter of seafood, impacting the availability and pricing of fresh meat in the market. The government's regulations on food safety and animal welfare also play a significant role in shaping the dynamics of the Fresh Meat Market in Thailand.

Underlying macroeconomic factors: The Fresh Meat Market of the Meat Market within The Food market in Thailand is influenced by various macroeconomic factors. These include the country's economic growth, consumer spending power, and government policies on agriculture and food production. Additionally, global economic trends and trade agreements also play a significant role in shaping the market. In recent years, Thailand has seen a steady growth in its economy, leading to an increase in disposable income and consumer demand for high-quality fresh meat products. Moreover, the government's focus on promoting food safety standards and sustainable agriculture practices has also positively impacted the market. However, challenges such as rising production costs and competition from imported meats can affect the market's growth.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.