Market Trends of Thailand Cold Chain Logistics Industry
Development of the Pharmaceutical Sector
With a market value of around 240 billion Thai baht (USD 6.96 Billion), Thailand is one of the leading pharmaceutical markets in Southeast Asia. Its Universal Health Coverage scheme has made pharmaceuticals more affordable and accessible to the public, contributing to the rising market value of Pharmaceuticals in Thailand.
Thailand's pharmaceutical industry benefits from substantial public and private partnerships. The government has implemented initiatives to promote research and development, encourage investment, and support local pharmaceutical manufacturers.
In 2022, the Thai market for vitamins and nutritional supplements was worth over 70 billion baht (USD 2.03 Billion). The growth of medication franchises and sales locations at shopping malls will put further pressure on drug stores in the upcoming year. Regarding governmental rules, the Board of Investment of Thailand permitted a five-year income tax exemption for investments in the pharmaceutical business.
In 2022, Thailand's market share of generic drugs accounted for 55 percent of the market. That same year, the pharmaceutical market value in the country amounted to around 188 billion Thai baht (USD 5.45 Billion).
Rise in demand for Meat and Dairy
Thailand holds a strong position in the fisheries industry and is a significant producer of poultry, especially chicken. Meat is a substantial part of the Thai diet and is included in many local dishes.
Thailand is among the leading countries with the highest pig stock compared to other countries or regions in the Asia Pacific. In Thailand, poultry, particularly broilers, comprises most livestock. Consequently, most of the nation's meat exports are chicken products, while the pig livestock mainly serves domestic demand.
Swine and poultry livestock are essential contributors to the nation’s food security. With a rising middle class and more and more Western cuisine influence on the Thai urban consumption of milk products, the demand for dairy cow stock in Thailand has been on a steady rise over the last decade.
In 2022, Japan was the leading importer of prepared and preserved chicken exported from Thailand, importing more than 50 billion Thai baht (USD 1.45 Billion) worth of such products. This was followed by the United Kingdom, with around 25.3 billion Thai baht (USD 0.73 Billion) worth of prepared and preserved chicken imports from Thailand.
In 2022, the total revenue of the meat market in Thailand amounted to approximately 6.8 billion U.S. dollars. In 2022, the pig stock in Thailand amounted to about 10.76 million heads. The volume of pig stock in the country has been increasing over the past decade. In 2022, the production volume of chicken eggs in Thailand exceeded 15.3 billion units. This reflects an increase from around 15.15 billion units of eggs produced in the previous year, 2021.
