Thai Cuisine Market Outlook
According to a new report by Expert Market Research titled, “Global Thai Cuisine Market Share, Size, Analysis, Report and Forecast 2023-2028″, the thai cuisine market is projected to grow at a CAGR of 7.20% between 2023 and 2028. Aided by the increasing availability of Thai food and changing food preferences of consumers, the market is expected to grow significantly by 2028.
Thai cuisine, renowned for its rich tapestry of flavours—sour, sweet, salty, bitter, and spicy—has made a lasting impression on the global culinary landscape. Known for its unique combination of seasonings, fresh ingredients, and aromatic herbs, Thai food provides not only a tantalising taste but also numerous health benefits, thanks to its inclusion of ingredients like turmeric, ginger, lemongrass, and coconut milk.
The mounting appreciation for Thai dishes globally is substantially driving the Thai cuisine market expansion. As culinary enthusiasts increasingly seek authentic and exotic flavours, Thai food, with its palatable range from Pad Thai to Tom Yum Goong, finds a rising consumer base. Moreover, the proliferation of Thai restaurants, both stand-alone and chains, in key cities worldwide has augmented the cuisine’s accessibility and popularity.
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Furthermore, tourism in Thailand plays a pivotal role in accentuating the global appeal of Thai cuisine. Tourists, enticed by Thailand’s scenic beauty and rich cultural heritage, often return home with an enhanced appreciation for Thai dishes. This experience-driven demand subsequently stimulates interest in Thai cuisine in their home countries, leading to an uptick in Thai restaurant openings and Thai cookery classes globally.
The global health and wellness trend has further augmented Thai cuisine market demand. Given that numerous Thai dishes incorporate nutritious ingredients and are often less calorically dense compared to Western fast food, health-conscious consumers are gravitating towards Thai options. Dishes like Som Tam (Papaya Salad) or Tom Kha Gai (Coconut Chicken Soup) are not only flavour-packed but also align with dietary preferences emphasising fresh ingredients and holistic wellness.
In the fast-evolving food and beverage industry, convenience remains king. Recognising this, many Thai cuisine manufacturers and restaurants are delving into the realm of ready-to-eat Thai meals and meal kits. These offerings, designed to satiate the cravings of those who might not have the luxury of dining out frequently, are becoming increasingly popular in supermarkets and online platforms, further fuelling the Thai cuisine market growth trajectory.
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Additionally, the global push for sustainability and ethical consumption resonates well with Thai culinary traditions. Many Thai dishes can be crafted using locally sourced, organic ingredients. As consumers worldwide become more discerning about food origins and environmental impact, Thai cuisine, with its emphasis on fresh, local produce, stands out as a sustainable dining option.
Thai Cuisine Market Segmentation
The market can be divided based on type, application, and region.
Market Breakup by Type
- Street Food
- Meal Kit
- Fine Dining
Market Breakup by Application
- Restaurants
- Processed Food
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global Thai cuisine companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- MTY Food Group Inc.
- McCormick & Company Inc.
- Narathai Cuisine Co., Ltd.
- Le Du
- SanehJaan
- Greyhound Café
- Siam House
- Bangkok Express
- Exquisine System(HK) Co., Ltd.
- Sri Tart Aroy-D Thai
- Others
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