Thailand Confectionery Market (2023-2029) | Value, Growth, COVID-19 IMPACT, Forecast, Share, Industry, Analysis, Trends, Size, Companies, Outlook & Revenue

Thailand Confectionery Market Highlights

Report Name	Thailand Confectionery Market
Base Year	2022
Historical Period	2019-2022
Forecast Period	2023-2029
Growth Rate (CAGR)	6.56%
Report Coverage	Revenues & Volume, Market Trends, Drivers & Challenges, Market Forecast, Market Share
Segment Coverage	By Type, By Distribution Channel
Customization Scope	100% customized reports available along with reliable data. Moreover, you can alter the segments, countries, and regions according to your needs. For further details, you can contact our research expert at sales@6wresearch.com
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Topics Covered in the Thailand Confectionery Market

Thailand Confectionery Market report thoroughly covers the market by type and by distribution channel. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Thailand Confectionery Market Synopsis

Over the past few years, Thailand has become a leading market for confectionery products due to its diverse population and large middle-class consumer base. This is attributed to the strong demand for international brands in this Southeast Asian country, as well as an increase in disposable incomes of consumers. Moreover, rising health consciousness among people has led to a rise in demand for healthy snacks such as muesli bars, nut clusters and dried fruits that are gaining popularity as convenient snack options among Thailand consumers.

According to 6Wresearch, the Thailand Confectionery Market Size amounts to US$7.87bn. The market is expected to grow annually by 6.56% during the forecast period of 2023-2029. One of the key factors driving growth in Thailand confectionery industry is increasing urbanization which has resulted into greater purchasing power with more individuals having access to discretionary income. Furthermore, changing lifestyles have increased interest towards premium products from high-end stores which creates vast opportunities for manufacturers operating in the sector. Additionally, marketing activities comprising television commercials (TVCs) and online campaigns by major players aid them gain better visibility amongst consumers. However, significant challenge faced by manufacturers operating within this space is competition from unbranded local producers who sell their products at much lower prices than branded counterparts resulting into lower profits margins. In addition to that, stringent governmental regulations on food safety standards can also restrict innovation and limit development of new product categories within the industry further hindering Thailand Confectionery Market Growth prospects of companies partaking within it.

Covid-19 Impact on the Market

The COVID- 19 pandemic caused disruption across all sectors including food & beverage industries throughout 2020 causing many businesses suffering losses or cutting down operations temporarily until situation normalized while some were able to sustain by developing their digital presence through ecommerce channels providing contactless delivery services etc. Confectionery industry was no different either with stockpiling during initial stages followed by restricted movement restricting availability of goods while restaurants going out of business lead into decreased sales volumes thus triggering decline in revenues over several quarters.

Key Players of the Market

Major players dominating Thailand confectionery market include Mondelez International, Nestle SA, Mars Incorporated, Meiji Holdings Co Ltd., Ferrero Group, Kraft Heinz Company amongst others.

Government policies and schemes introduced in the Thailand Confectionery Market

The Thailand Food and Drug Administration (FDA) sets and enforces standards for food safety and quality. This includes regulations specific to confectionery products to ensure they meet safety and quality requirements. The government have policies in place to protect consumers by ensuring that confectionery products are properly labelled with accurate information regarding ingredients and allergen warnings. In a predominantly Buddhist country, obtaining halal certification for confectionery products is important to tap into markets with a significant Muslim population. The government have programs to support SMEs in the food industry, including confectionery businesses. This includes access to financing, training, and capacity-building initiatives. Moreover, government initiatives are to be in place to promote the export of Thai confectionery products to international markets. This includes participation in trade fairs, market research, and financial support for export activities.

Market analysis by Type

According to Mayank, Senior Research Analyst, 6Wresearch, the chocolate confectionery segment is anticipated to lead the Thailand Confectionery Market Share, driven by consumers' affinity for premium and innovative chocolate products. There is room for innovation and expansion in this category. Artisanal and premium chocolate brands are expected to fuel the growth in this segment.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Thailand Confectionery Market Outlook
• Market Size of Thailand Confectionery Market, 2022
• Forecast of Thailand Confectionery Market, 2029
• Historical Data and Forecast of Thailand Confectionery Revenues & Volume for the Period 2019 - 2029
• Thailand Confectionery Market Trend Evolution
• Thailand Confectionery Market Drivers and Challenges
• Thailand Confectionery Price Trends
• Thailand Confectionery Porter's Five Forces
• Thailand Confectionery Industry Life Cycle
• Historical Data and Forecast of Thailand Confectionery Market Revenues & Volume By Type for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Confectionery Market Revenues & Volume By Sugar for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Confectionery Market Revenues & Volume By Chocolate for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Confectionery Market Revenues & Volume By Fine Bakery Wares for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Confectionery Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Confectionery Market Revenues & Volume By Distribution Channel for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Confectionery Market Revenues & Volume By Supermarket/Hypermarket for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Confectionery Market Revenues & Volume By Specialist Retailers for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Confectionery Market Revenues & Volume By Online Retail Stores for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Confectionery Market Revenues & Volume By Convenience Stores for the Period 2019 - 2029
• Historical Data and Forecast of Thailand Confectionery Market Revenues & Volume By Other Distribution Channels for the Period 2019 - 2029
• Thailand Confectionery Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Distribution Channel
• Thailand Confectionery Top Companies Market Share
• Thailand Confectionery Competitive Benchmarking By Technical and Operational Parameters
• Thailand Confectionery Company Profiles
• Thailand Confectionery Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Type

• Sugar
• Chocolate
• Fine Bakery Wares
• Others

By Distribution Channel

• Supermarket/Hypermarket
• Specialist Retailers
• Online Retail Stores
• Convenience Stores
• Other Distribution Channels

Frequently Asked Questions About the Market Study (FAQs):