Asia Thai Cuisine Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2024-2032)

Asia Thai Cuisine Market Growth

In 2021, food production recorded a year-on-year growth of 2.9% in Thailand. The increasing demand for Thai food from countries such as China led to 4.5% year-on-year growth in exports, reaching USD 18.6 billion.

In a report released in December 2023, TasteAtlas.com ranked Phat Kaphrao as the world’s third most popular cuisine. It was earlier called the “Best Stir-Fries in the World 2023” due to its unique taste. It is prepared from meat, basil, and chilli, and enjoys great appeal among tourists and natives alike. As per Asia Thai cuisine market analysis, other Asian cuisines from South Korea (4.46), Vietnam (4.44), Iran (4.42), and Lebanon (4.40) followed closely.

Southern Thai food have recently become exceedingly popular among people. Restaurants providing a relatively refined version of cuisines belonging to southern Thailand have witnessed long queues of reservations weeks in advance, where people prefer to enjoy family dinners and dates. Southern Thai food is prepared from unique local ingredients that impart a variety of flavours and aromas to the dishes. Though this cuisine is renowned for its heat, sweet and savoury dishes prepared from palm sugar are also consumed on a large scale.

Key Trends and Developments

Asia Thai Cuisine Market Trends

The presence of undeclared food allergens in 7.22% of the local food system raised significant concerns surrounding consumer health in Thailand. Hence, the Thai Food and Drug Association proposed that food manufacturers should have clear and concise information regarding food allergens on product labels. Such food allergens may include gluten, crustaceans, seafood such as squids and fish, soy and milk products, and peanuts, among others. It also proposed that manufacturers should adopt a uniform code of labelling expiration date on food products, including a specific date, month, and year format. This is expected to promote the consumption of Thai cuisines, thereby driving market growth.

Asia Thai Cuisine Industry Segmentation

Asia Thai Cuisine Market Share

Based on region, the market is segmented into Southeast Asia, East Asia, South Asia, and Central Asia. South Asia is projected to dominate the market, representing 14% of the overall market share. Over the forecast period, East Asia is expected to grow at a CAGR of 10.2% as the demand for Thai cuisines is increasing across nations such as Japan.

Leading Companies in the Asia Thai Cuisine Market

Major players are expanding their digital presence to cater to individual consumer palettes, thereby driving Asia Pacific Thai cuisine market share. Moreover, major markets such as India are expected to become mainstream revenue sources for the industry over the forecast period.

Monty & Totco Co., Ltd

Monty & Totco Co., Ltd. is a prominent player in the Thai food industry, headquartered in Thailand and founded in 1990. The company specialises in the production and distribution of various food products, particularly sauces and condiments.

Thai Sing Foodstuffs Industry Pte Ltd

Founded in 1969 and based in Singapore, Thai Sing Foodstuffs Industry Pte Ltd offers a variety of sauces, past...

CURRY & SPICES CO., LTD. (Namjai)

CURRY & SPICES CO., LTD., commonly referred to as Namjai, is another key player in the Asia Pacific Thai cuisi...

Premier Foods Inc. (Sharwood)

Premier Foods Inc., known for its Sharwood brand, is headquartered in the United Kingdom and was established i...

*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*

Other players included in the Asia Thai cuisine market report are Ab World Foods Asia Ltd. (Blue Dragon), among others.