NEW YORK, July 18, 2022 /PRNewswire/ -- The retail market in Thailand is growing at a CAGR of 6% and is expected to register an incremental growth of USD 55.21 billion between 2020 and 2025. The report analyses the market size, growth, and provides accurate predictions on the growth of the market.
The retail market in Thailand is segmented by product (grocery, apparel and footwear, BPC, home and garden, and others) and distribution channel (offline and online).
Based on the product, the grocery segment generated maximum revenue in the market in 2021. The segment is driven by the expansion of product portfolios and retail stores by international retailers to cater to the growing number of customers. In addition, factors such as changing lifestyles, increasing disposable incomes, and rapid urbanization will have a positive impact on the growth of the segment.
Similarly, in terms of distribution channel, the offline segment will account for maximum revenue generation in the market over the forecast period. The segment is driven by the expansion of specialty stores, hypermarkets, supermarkets, and departmental stores across Thailand.
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The retail market in Thailand is expected to witness substantial growth during the forecast period, primarily due to the growing demand for convenience food products. Factors such as rising busy day schedules and an increase in the number of working women have increased the consumer preference for convenience food products in Thailand. With both men and women going to work, the time spent on household chores is declining due to their hectic work schedules. This has led to a reduction in the traditional method of cooking food and has resulted in a shift in consumer preferences toward processed food products that are rich in nutrition. Moreover, the shift in consumer preferences is encouraging F&B companies to offer a wide range of products in different forms, such as chilled, frozen, and canned. All these factors are driving the growth of the retail market in Thailand.
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The retail market in Thailand is highly competitive and fragmented due to the presence of both international and local players operating across the country. With the rising competition, vendors are bringing in innovative products to meet the changing consumer demands and to increase their customer base. The competition is expected to intensify during the forecast period with the entry of several new players, private label brands, price wars, and mergers and acquisitions.
Here are some of the products offered by key vendors:
Aeon Co. Ltd.: The company operates through its subsidiary, AEON (Thailand) Co.,Ltd., in Thailand and has 30 branches of Maxvalu Supermarket around Bangkok and Greater Bangkok.
Berli Jucker Public Co. Ltd.: The company operates its retail business in Thailand through Big C Public Company. It includes 125 Supercenter stores, 15 Big C Extra stores, 60 Market stores, 642 MiniBig C stores, 85 franchise stores, 135 Pure drugstores, and various other stores across Thailand.
Central Group of Company: The company operates retail business and has numerous retail stores across Thailand.
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Regional Analysis
Market Player Information
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Retail Market in Thailand: Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6% |
Market growth 2021-2025 |
USD 55.21 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.01 |
Regional analysis |
Thailand |
Performing market contribution |
Thailand at 100% |
Key consumer countries |
Thailand |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
Aeon Co. Ltd., Berli Jucker Public Co. Ltd., Central Group of Company, CP All Public Co. Ltd., Foodland Supermarket Co. Ltd., Home Product Center Public Co. Ltd., Isetan Mitsukoshi Holdings Ltd., Seven & i Holdings Co. Ltd., Tesco Plc, and The Mall Group |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Distribution channel
Customer Landscape
Vendor Landscape
Vendor Analysis
Appendix
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