Bottled Water - Thailand

The Bottled Water market in Thailand has been experiencing significant growth in recent years.

Customer preferences: One of the main reasons for this growth is the changing preferences of Thai consumers. With increasing health consciousness and concerns about the quality of tap water, more and more people are opting for bottled water as a safer and more convenient alternative. Additionally, the convenience of bottled water, especially in single-serve packages, appeals to busy urban dwellers who are always on the go.

Trends in the market: Another trend driving the growth of the bottled water market in Thailand is the increasing popularity of flavored and functional waters. Thai consumers are becoming more adventurous with their beverage choices and are seeking out new and unique flavors. Additionally, there is a growing demand for functional waters that offer added health benefits such as electrolytes, vitamins, and minerals.

Local special circumstances: Thailand's hot and humid climate also plays a role in the growth of the bottled water market. With temperatures often soaring above 30 degrees Celsius (86 degrees Fahrenheit), staying hydrated is essential for both locals and tourists. Bottled water provides a convenient and readily available source of hydration in a country where tap water is not always safe to drink.

Underlying macroeconomic factors: Thailand's growing middle class and rising disposable incomes are also contributing to the growth of the bottled water market. As more people have the means to afford bottled water, the demand for it increases. Additionally, the tourism industry in Thailand is booming, with millions of visitors each year. Tourists often prefer to drink bottled water to avoid any potential health risks associated with tap water in an unfamiliar country. In conclusion, the Bottled Water market in Thailand is experiencing significant growth due to changing customer preferences, including health consciousness and convenience. The increasing popularity of flavored and functional waters is also driving the market. Thailand's hot climate and the rise of the middle class and tourism industry are additional factors contributing to the growth. Overall, the future looks bright for the bottled water market in Thailand as consumers continue to prioritize their health and seek out convenient and safe hydration options.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

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 (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level 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 Non-Alcoholic Drinks 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.