Why Thailand?
Land of Opportunities
Thailand's import market is diverse, spanning across various products and industries. In 2024, the country's imports were valued at approximately USD 25.8 billion for the last month, bringing the total annual imports to over USD 300 billion. Here's a closer look at Thailand's annual imports, along with a breakdown by industry.
Markets in Thailand
FMCG Markets in Thailand
The Fast-Moving Consumer Goods (FMCG) sector in Thailand, particularly in packaged foods and cosmetics, has exhibited notable trends and growth patterns:
Packaged Foods:
- Market Dynamics: The food market in Thailand is projected to grow by1.47% annually from 2024 to 2029, reaching a market volume of approximately USD 29.9 billion by 2029.
- Ready-to-eat Segment: The ready-to-eat food market is expected to rebound with an annual growth rate of 3.0-4.0% from 2024 to 2026, indicating a rising consumer preference for convenience
Cosmetics:
- Market Size and Growth: The cosmetics segment in Thailand's beauty and personal care market is projected to experience continuous revenue growth from 2024 to 2029.
- Skin Care Products: The Thailand skin care products market was valued at $2,568.2 million in 2019 and is projected to reach $4,391.4 million by 2027, registering a Compound Annual Growth Rate (CAGR) of 7.6%.
- Packaging Trends: The cosmetics packaging market in Thailand is expected to witness a CAGR of 4.4% from 2020 to 2026, attributed to the rising demand for beauty and personal care products and increasing disposable incomes.
These insights highlight the dynamic nature of Thailand's FMCG market, with the cosmetics sector demonstrating robust growth potential, while the packaged foods segment faces challenges due to economic factors.
SaaS Market in Thailand
The Software as a Service (SaaS) market in Thailand is experiencing significant growth, reflecting the country's increasing adoption of cloudbased solutions. According to Statista, the SaaS market in Thailand is projected to grow by 21.12% between 2025 and 2029, reaching a market volume of approximately USD 0.99 billion by 2029. This growth is part of a broader expansion in Thailand's software industry. IDC reports that software vendor evenue in Thailand reached 44.5 billion THB in the second half of 2023, marking a 12.4% year-over-year increase. Notably, artificial intelligence platforms experienced the most substantial growth at 90.1% year-over-year, indicating a strong interest in AI-driven solutions. These trends underscore a robust and expanding market for SaaS-based services in Thailand, driven by the country's digital transformation initiatives and the increasing adoption of cloud computing solutions across various industries.
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