The entire industry of food, beverages, and tobacco is rising more actively in the recent trend with the effective developments in the technology of product making and improvement in the quality of the product. Whereas, the category of dairy and soy food are consumed across the globe but it is expected that in Thailand the consumption of these products is done on a large scale with the effective investment by the key players in the efficient research and development campaign related to this. Moreover, in the recent era, a significant increase in disposable income and transformation in lifestyle are two major growth driver factors which lead the market growth more actively in the coming years. In addition, the retailers of such products are establishing their business on an online platform for accomplishing the growing demand for such products and acquiring the huge market share in the forecasted period which further proved to advantageous for the significant market growth in the near future.
According to the report analysis, ‘Country Profile: Dairy & Soy Food in Thailand’ states that some of the major key players which are recently functioning in this market more actively for being a leading player in the country by achieving the growing demand of the potential buyers includes Royal Friesl and Campina N.V., LACTASOY CO.,LTD., Nestle SA, Dairy Farming Promotion Organization(DPO), Dutch Mill Group, Green Spot, Fonterra and several others. Moreover, the key players are playing an effective role by doing more developments in attractive packaging with the good quality packaging material while the packaging material includes flexible packaging, paper & board, rigid metal, rigid plastics, and glass. Whereas, Paper & board is the most commonly used pack material in the sector, followed by rigid plastics. The key players of this market are verifying the recent market trend and available opportunities for attaining the highest growth in the country more actively in the lesser period.
In the market of dairy and soy food, there are several products which are available in the market of Thailand which lead the growth of this market more enormously includes butter & spreadable fats, cheese, dairy-based & soy-based desserts, drinkable yogurt, from age frais & quark, milk, soymilk & soy drinks, and yogurt. Whereas, the dairy & soy food sector in Thailand is led by the ‘milk’ category in value terms, while the yogurt category is anticipated to account the fastest value growth during 2017-2022. Furthermore, for distributing these products the market players and manufacturers are utilizing several distribution channels which involves cash & carries and warehouse clubs, food & drinks specialists, hypermarkets & supermarkets, convenience stores, dollar stores, variety stores & general merchandise retailers, retailers and others. For instance, Hypermarkets & supermarkets are the leading distribution channel in the Thai dairy & soy food sector.
The Thai dairy & soy food sector is forecast to register overall value growth of 34.7% during 2017-2022 while, the per capita consumption of dairy & soy food was higher in Thailand compared to global and regional levels in 2017. It is expected that in the near future, the market for dairy and soy food in Thailand will grow more actively over the recent trend.
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Ankur Gupta, Head Marketing & Communications