Thailand Foodservice Market Growth, Trends, and Forecast (2019 - 2024)

The Thailand Foodservice Market is segmented by Sector Type (Full Service Restaurants, Cafes/Bars, Street Stalls/Kiosks, Quick Service Restaurants, and Other Sector Types), and Structure (Chained and Independent).

Market Snapshot

Snapshot
Study Period:

2016-2024

Base Year:

2018

CAGR% (2019 - 2024):

16.8%

Largest Growing Segment:

Full-Service Restaurant

Key Players:

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Market Overview

The Thai foodservice market is forecast to reach USD 676.04 million by 2024, witnessing a CAGR of 16.8%, during the forecast period (2019 - 2024).

  • Thailand is one of the major countries in the consumer foodservice industry, among the Southeast Asian countries.
  • The country’s tourism industry has been one of the primary factors of growth for its foodservice industry. Recently, the number of tourists visiting Thailand from Malaysia, India, Laos, and China have been increasing at a considerable pace.
  • According to the country’s Department of Tourism, such significant growth in tourism is attributed to the domestic stability, the development of low-cost airlines, and considerable government measures to boost tourism.
  • Additionally, social networking sites, such as Facebook, Twitter, and Instagram, played a crucial role in augmenting the growth of the Thai foodservice market. Celebrities from the entertainment industry have been posting images and providing feedbacks about their healthy lifestyles, which have contributed to and boosted the health and wellness trend in Thailand.  

 

Scope of the Report

 The Thai foodservice market is segmented by sector type, and structure. Full service restaurants is the dominant segment, and is expected to remain so, throughout the forecast period. However, the quick service restaurants segment is projected to record the fastest growth over the forecast period. Bangkok, and South and East Thailand account for a significant share in the market, in terms of the number of registered restaurants in the country.

By Sector Type
Full Service Restaurants
Cafes/Bars
Street Stalls/Kiosks
Quick Service Restaurants
Other Sector Types (100% Home Delivery/Takeaway and Self-service Cafeterias)
By Structure
Chained Outlets
Independent Outlets

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Key Market Trends

Full Service Restaurants are Gaining Popularity in Thailand

Full service restaurants are gaining much popularity in Thailand. The market share of the full service restaurants segment has been growing, due to increased consumer preference for convenience, hygiene, and high quality standards. High-end restaurants try to appeal to teenagers and young professionals by offering high-quality food and providing unique ambience. Many full service restaurant chains offer takeout and delivery options, which are much popular in the country. Additionally, new Japanese department stores and restaurants are frequently being launched in Thailand.

Trend1

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Gastronomy Tourism Drives Local Consumer Foodservice

Thai restaurants and coffee shops are the most popular among tourists and locals. Tourism remains one of the primary drivers of economic growth in Thailand, and is an increasingly large contributor to Thailand’s GDP. According to the country’s Department of Tourism, the high growth of the hospitality sector was the result of domestic stability, the growth of low-cost airlines, and certain government measures that were taken to boost the popularity of restaurants among tourists. One factor contributing to the growth of the tourism sector in Thailand is the growth in number of tourists from other Asian countries. The number of tourists from China, Laos, and Malaysia witnessed the fastest growth in 2016, among those from all other countries. Experts anticipate that Bangkok may soon become one of the largest recipients of Chinese tourists in Asia, second to Tokyo.

Trend2

Competitive Landscape

The most prominent companies in this region include Yum! Brands Inc., Starbucks Corporation, MK Restaurants Co. Ltd, and Charoen Pokphand Group, among others. Some of the renowned and luxurious hotel groups in Thailand, including Minor International PCL and Thai Beverage PCL, have full service restaurants offering various cuisines. In 2016, Seven & I Holdings Co. Ltd held a majority share of the Thai foodservice market.

Major Players

  1. Yum! Brands
  2. Starbucks Corporation
  3. MK Restaurants Co. Ltd
  4. McDonald's Corp.
  5. Thai Beverage PCL

* Complete list of players covered available in the table of contents below

Picture3

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Sector Type

      1. 5.1.1 Full Service Restaurants

      2. 5.1.2 Cafes/Bars

      3. 5.1.3 Street Stalls/Kiosks

      4. 5.1.4 Quick Service Restaurants

      5. 5.1.5 Other Sector Types (100% Home Delivery/Takeaway and Self-service Cafeterias)

    2. 5.2 By Structure

      1. 5.2.1 Chained Outlets

      2. 5.2.2 Independent Outlets

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Yum! Brands Inc.

      2. 6.4.2 Starbucks Corporation

      3. 6.4.3 MK Restaurants Co. Ltd

      4. 6.4.4 McDonald's Corp

      5. 6.4.5 Seven & I Holdings Co. Ltd

      6. 6.4.6 Charoen Pokphand Group

      7. 6.4.7 Minor International PCL

      8. 6.4.8 Thai Beverage PCL

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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