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Thailand Foodservice Market Size

The Thailand Foodservice Market is experiencing significant growth, driven by a shift towards health-conscious dining preferences post-pandemic. The market's expansion is largely attributed to the increasing popularity of quick service restaurants and the rising demand for plant-based menu options, as consumers adopt flexitarian, vegan, and vegetarian diets. Full-service restaurants are also witnessing growth, fueled by tourism and a preference for authentic Asian cuisines. Additionally, the cloud kitchen segment is rapidly expanding, propelled by the surge in online food deliveries through smartphone applications.

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Market Size of thailand foodservice Industry

Thailand Foodservice Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 32.85 Billion
svg icon Market Size (2029) USD 47.79 Billion
svg icon Largest Share by Foodservice Type Quick Service Restaurants
svg icon CAGR (2024 - 2029) 7.78 %
svg icon Fastest Growing by Foodservice Type Cloud Kitchen
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Thailand Foodservice Market Analysis

The Thailand Foodservice Market size is estimated at 32.85 billion USD in 2024, and is expected to reach 47.79 billion USD by 2029, growing at a CAGR of 7.78% during the forecast period (2024-2029).

32.85 Billion

Market Size in 2024 (USD)

47.79 Billion

Market Size in 2029 (USD)

2.87 %

CAGR (2017-2023)

7.78 %

CAGR (2024-2029)

Largest Segment by Foodservice Type

50.74 %

value share, Quick Service Restaurants, 2023

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The preference for chicken and pork-based fast food, with a per capita consumption of nearly 22 kg in 2022, is driving the expansion of quick service restaurants in Thailand.

Largest Segment by Outlet Type

74.59 %

value share, Independent Outlets, 2023

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Independent restaurants have distinct menus and dining experiences that attract not only locals but also millions of tourists who visit the country, promoting the growth of the segment.

Fastest-growing segment by Foodservice Type

25.57 %

Projected CAGR, Cloud Kitchen, 2024-2029

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Delivery applications, like GrabFood, Food Panda, and Line Man, have registered more than a million active users, which acts as a driver for the growth of cloud kitchens.

Fastest-growing segment by Outlet Type

8.28 %

Projected CAGR, Chained Outlets, 2024-2029

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In 2022, 62% of people in the country consumed meat regularly, and to cater to this expanding base, international brands, like KFC and McDonald's, added hundreds of new outlets.

Leading Market Player

0.66 %

market share, CP All PCL, 2022

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CP All PCL operates convenience stores under the 7-Eleven brand with a total of 12,587 stores in the nation and plans to open franchised stores in 2023.

The rise in veganism and vegetarianism in the country led to the expansion of plant-based menu options

  • Quick service restaurants held the largest market share in the market in 2022. The segment is projected to grow, registering a CAGR of 8.22%, by value, during the forecast period. The market's expansion can be attributed to the country's continued inclination for health-conscious diets after the pandemic. In 2022, 65% of Thai consumers adopted a flexitarian diet due to health concerns, while 20% put down weight.
  • Moreover, the rise of veganism and vegetarianism in recent years encouraged restaurants to expand their plant-based menu items. Thus, food brands are increasingly developing foods in line with flexitarian and vegan options to attract more health-conscious consumers. For instance, in 2021, Perdue Foods Chicken Plus products included a blend of chicken, vegetables, and plant-based protein. Farm Food USA Inc. introduced a variety of flexitarian meat products that are 25-30% plant-based.
  • Full-service restaurants are projected to register a CAGR of 7.46%, by value, during the forecast period. The growth will be supported by increased tourism and visitors looking for authentic Asian cuisines. In Thailand, Japanese restaurants are highly preferred by consumers, followed by Italian, Chinese, American, and Vietnamese. Popular Thai dishes preferred by locals and tourists are Tom Yum Goong (the spicy shrimp soup), Laab (spicy salad), Som Tam (spicy green papaya salad), and Pad Thai.
  • The cloud kitchen segment is the fastest growing and is anticipated to register a CAGR of 25.40% during the forecast period. The growth will be due to rising online food deliveries through smartphone applications. As of January 2022, there were around 54.50 million internet users in Thailand, and internet penetration stood at 77.8% of the total population.
Thailand Foodservice Market

Thailand Foodservice Industry Segmentation

Cafes & Bars, Cloud Kitchen, Full Service Restaurants, Quick Service Restaurants are covered as segments by Foodservice Type. Chained Outlets, Independent Outlets are covered as segments by Outlet. Leisure, Lodging, Retail, Standalone, Travel are covered as segments by Location.

  • Quick service restaurants held the largest market share in the market in 2022. The segment is projected to grow, registering a CAGR of 8.22%, by value, during the forecast period. The market's expansion can be attributed to the country's continued inclination for health-conscious diets after the pandemic. In 2022, 65% of Thai consumers adopted a flexitarian diet due to health concerns, while 20% put down weight.
  • Moreover, the rise of veganism and vegetarianism in recent years encouraged restaurants to expand their plant-based menu items. Thus, food brands are increasingly developing foods in line with flexitarian and vegan options to attract more health-conscious consumers. For instance, in 2021, Perdue Foods Chicken Plus products included a blend of chicken, vegetables, and plant-based protein. Farm Food USA Inc. introduced a variety of flexitarian meat products that are 25-30% plant-based.
  • Full-service restaurants are projected to register a CAGR of 7.46%, by value, during the forecast period. The growth will be supported by increased tourism and visitors looking for authentic Asian cuisines. In Thailand, Japanese restaurants are highly preferred by consumers, followed by Italian, Chinese, American, and Vietnamese. Popular Thai dishes preferred by locals and tourists are Tom Yum Goong (the spicy shrimp soup), Laab (spicy salad), Som Tam (spicy green papaya salad), and Pad Thai.
  • The cloud kitchen segment is the fastest growing and is anticipated to register a CAGR of 25.40% during the forecast period. The growth will be due to rising online food deliveries through smartphone applications. As of January 2022, there were around 54.50 million internet users in Thailand, and internet penetration stood at 77.8% of the total population.
Foodservice Type
Cafes & Bars
By Cuisine
Bars & Pubs
Cafes
Juice/Smoothie/Desserts Bars
Specialist Coffee & Tea Shops
Cloud Kitchen
Full Service Restaurants
By Cuisine
Asian
European
Latin American
Middle Eastern
North American
Other FSR Cuisines
Quick Service Restaurants
By Cuisine
Bakeries
Burger
Ice Cream
Meat-based Cuisines
Pizza
Other QSR Cuisines
Outlet
Chained Outlets
Independent Outlets
Location
Leisure
Lodging
Retail
Standalone
Travel
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Thailand Foodservice Market Size Summary

The Thailand foodservice market is experiencing significant growth, driven by evolving consumer preferences and increasing urbanization. Quick service restaurants (QSRs) dominate the market, benefiting from the young population's inclination towards fast food and the rise of health-conscious diets post-pandemic. The market is witnessing a shift towards flexitarian, vegan, and vegetarian options, prompting food brands to expand their plant-based offerings. Full-service restaurants are also seeing growth, fueled by tourism and a demand for authentic Asian cuisines, with Japanese restaurants being particularly popular. The cloud kitchen segment is emerging as the fastest-growing area, propelled by the surge in online food deliveries and the widespread use of smartphone applications.

The market landscape is fragmented, with major players like CP All PCL, Minor International PCL, and Yum! Brands, Inc. holding significant shares. The expansion of chained outlets and the introduction of hybrid dining concepts, such as the 'Oishi Biztoro' by Thai Beverage PCL, are contributing to the market's dynamism. Cafes and bars are gaining traction, supported by increasing coffee consumption and Thailand's appeal as a travel destination. The foodservice industry is adapting to consumer demands, with a focus on "farm-to-table" concepts and premium dining experiences. The market's growth is further bolstered by strategic partnerships and investments in cloud kitchen expansions, reflecting the sector's robust potential.

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Thailand Foodservice Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Foodservice Type

      1. 1.1.1 Cafes & Bars

        1. 1.1.1.1 By Cuisine

          1. 1.1.1.1.1 Bars & Pubs

          2. 1.1.1.1.2 Cafes

          3. 1.1.1.1.3 Juice/Smoothie/Desserts Bars

          4. 1.1.1.1.4 Specialist Coffee & Tea Shops

      2. 1.1.2 Cloud Kitchen

      3. 1.1.3 Full Service Restaurants

        1. 1.1.3.1 By Cuisine

          1. 1.1.3.1.1 Asian

          2. 1.1.3.1.2 European

          3. 1.1.3.1.3 Latin American

          4. 1.1.3.1.4 Middle Eastern

          5. 1.1.3.1.5 North American

          6. 1.1.3.1.6 Other FSR Cuisines

      4. 1.1.4 Quick Service Restaurants

        1. 1.1.4.1 By Cuisine

          1. 1.1.4.1.1 Bakeries

          2. 1.1.4.1.2 Burger

          3. 1.1.4.1.3 Ice Cream

          4. 1.1.4.1.4 Meat-based Cuisines

          5. 1.1.4.1.5 Pizza

          6. 1.1.4.1.6 Other QSR Cuisines

    2. 1.2 Outlet

      1. 1.2.1 Chained Outlets

      2. 1.2.2 Independent Outlets

    3. 1.3 Location

      1. 1.3.1 Leisure

      2. 1.3.2 Lodging

      3. 1.3.3 Retail

      4. 1.3.4 Standalone

      5. 1.3.5 Travel

Thailand Foodservice Market Size FAQs

The Thailand Foodservice Market size is expected to reach USD 32.85 billion in 2024 and grow at a CAGR of 7.78% to reach USD 47.79 billion by 2029.

In 2024, the Thailand Foodservice Market size is expected to reach USD 32.85 billion.

Food Service Thailand Market Report Snapshots

Thailand Foodservice Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2029