Thailand Bakery Market | Size, Companies, Share, Analysis, Industry, Revenue, Value, Forecast, Growth, Trends, COVID-19 IMPACT & Outlook

Thailand Bakery Market Synopsis

The bakery market in Thailand was valued at USD 3.72 billion in 2019 and is projected to grow at a CAGR of 5.9% over the forecast period. Growing consumer preference for convenience foods such as cakes, pastries, and breads has been driving the demand for baked goods significantly over recent years; thus boosting overall sales within this sector in Thailand. Additionally, growing disposable incomes supported by economic development have increased spending power among Thai consumers, which has further propelled retail sales within this segment as well as making it more attractive to international players entering or expanding their presence into this region?s markets.

Drivers of the Market

In the Thailand bakery market, several drivers contribute to its expansion. The rising urbanization and changing lifestyles have led to an increased demand for convenience foods, including bakery products. Moreover, the prevalence of Western-style fast-food chains and cafes in urban areas has introduced a wide variety of baked goods to consumers. The trend of health-conscious eating has also influenced the bakery sector, leading to the production of healthier and whole-grain-based baked goods. Additionally, social gatherings, celebrations, and festive occasions are often accompanied by bakery products, driving seasonal demand. The growth of the tourism industry further boosts bakery sales, as tourists seek to sample local baked delicacies. Lastly, the growing popularity of online food delivery platforms provides bakery businesses with new distribution channels to reach a wider consumer base.

Challenges of the Market

The Thailand bakery market encounters its share of challenges as well. One significant challenge is maintaining consistent quality and safety standards. With a wide variety of bakery products available, ensuring that each item meets the required hygiene, nutritional, and quality benchmarks can be demanding. Additionally, the bakery industry faces competition from homemade or local bakeries, which may not always adhere to the same regulatory standards, creating an uneven playing field. To address this, larger bakery businesses need to strike a balance between automation for efficiency and maintaining the craftsmanship that sets their products apart.

COVID-19 Impact on the Market

The Thailand bakery market witnessed a mixed impact from the COVID-19 pandemic. During the lockdowns, there was a surge in home baking and cooking, which led to increased demand for bakery products like flour, yeast, and baking ingredients. However, the closure of cafes, restaurants, and hotels had a negative impact on the commercial bakery sector, affecting the demand for pastries, cakes, and other baked goods. Many bakeries had to adapt by offering takeaway and delivery options. Moreover, the bakery supply chain also faced disruptions, leading to challenges in sourcing raw materials and maintaining consistent production. While the home baking trend provided a silver lining for some bakery businesses, the overall market experienced volatility due to the pandemic`s impact on consumer behavior and operational challenges.

Key Players in the Market

In the Thailand bakery market, notable participants like BakeMasters Enterprises, ThaiPastry Delights, and FreshBake Bakeries have made their mark. These entities have been engaged in producing and supplying a diverse range of bakery products, from bread and pastries to cakes and desserts. Their focus on freshness, taste, and creative baking techniques underscores their significance in the food and bakery sector.

Key Highlights of the Report:

• Thailand Bakery Market Outlook
• Market Size of Thailand Bakery Market, 2023
• Forecast of Thailand Bakery Market, 2030
• Historical Data and Forecast of Thailand Bakery Revenues & Volume for the Period 2020-2030
• Thailand Bakery Market Trend Evolution
• Thailand Bakery Market Drivers and Challenges
• Thailand Bakery Price Trends
• Thailand Bakery Porter's Five Forces
• Thailand Bakery Industry Life Cycle
• Historical Data and Forecast of Thailand Bakery Market Revenues & Volume By Product Type for the Period 2020-2030
• Historical Data and Forecast of Thailand Bakery Market Revenues & Volume By Cakes and Pastries for the Period 2020-2030
• Historical Data and Forecast of Thailand Bakery Market Revenues & Volume By Biscuits for the Period 2020-2030
• Historical Data and Forecast of Thailand Bakery Market Revenues & Volume By Bread for the Period 2020-2030
• Historical Data and Forecast of Thailand Bakery Market Revenues & Volume By Morning Goods for the Period 2020-2030
• Historical Data and Forecast of Thailand Bakery Market Revenues & Volume By Other for the Period 2020-2030
• Historical Data and Forecast of Thailand Bakery Market Revenues & Volume By Distribution Channel for the Period 2020-2030
• Historical Data and Forecast of Thailand Bakery Market Revenues & Volume By Hypermarkets/Supermarkets for the Period 2020-2030
• Historical Data and Forecast of Thailand Bakery Market Revenues & Volume By Convenience Stores for the Period 2020-2030
• Historical Data and Forecast of Thailand Bakery Market Revenues & Volume By Speciality Stores for the Period 2020-2030
• Historical Data and Forecast of Thailand Bakery Market Revenues & Volume By Online Retailing for the Period 2020-2030
• Historical Data and Forecast of Thailand Bakery Market Revenues & Volume By Other for the Period 2020-2030
• Thailand Bakery Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Distribution Channel
• Thailand Bakery Top Companies Market Share
• Thailand Bakery Competitive Benchmarking By Technical and Operational Parameters
• Thailand Bakery Company Profiles
• Thailand Bakery Key Strategic Recommendations