Global Thai Cuisine Market Report and Forecast 2024-2032

Global Thai Cuisine Market Outlook

The global Thai cuisine market size is projected to grow at a CAGR of 7.20% between 2024 and 2032. The major market drivers include increasing availability of Thai food and changing food preferences of consumers.

Key Trends in the Market

Thai cuisine encompasses of lightly prepared dishes with a spicy edge and strong aromatic components including lime leaves, lemongrass, and gingers, among others. The cuisine features both vegetarian and non-vegetarian dishes that balance spicy, sweet, and sour flavours to perfection in stir fries, curries, salads, and soups.

• Various initiatives are being taken by the government of Thailand to increase the presence of Thai restaurants all across the globe. Furthermore, increasing number of restaurant chains are introducing Thai dishes on their menus in order to provide customers with food variety and quick service, boosting the Thai cuisine market demand.

• Increased consumption of fresh, clean, and healthy food products made from herbs, vegetables, and lean proteins, among others is boosting the popularity of Thai cuisine. Unique flavours, vibrant spices, and aromatic herbs are further attracting consumer interest towards the cuisine.

• Rise in international tourism has introduced Thai food to several travellers, due to their spicy and aromatic nature, the travellers developed a taste for the cuisine and upon return, look for Thai food in their own countries.

Global Thai Cuisine Market Analysis

Based on type, the market is divided into street food, meal kit, and fine dining. By application, the market is categorised into restaurants and processed food, among others. On the basis of region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global Thai cuisine market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• MTY Food Group Inc.

• McCormick & Company Inc.

• Narathai Cuisine Co., Ltd.

• Le Du

• SanehJaan

• Greyhound Café

• Siam House

• Bangkok Express 

• Exquisine System(HK) Co., Ltd.

• Sri Tart Aroy-D Thai

• Others

Market Share by Type

Street food is anticipated to account for a significant Thai cuisine market share owing to the popularity, affordability, and authenticity of the street food. Thai street food offers dishes made from rice served in classic bowls, including rice noodles. Street food also allows food enthusiasts to enjoy the cuisine in an affordable manner. Street food markets and stalls attract both local as well as tourists towards them, boosting the segment growth.

Market Share by Application

Restaurants are expected to hold a significant share of the market as Thai cuisine is served and enjoyed globally by consumers in various small eateries and restaurant chains among others. Restaurants are believed to have an assorted menu with dishes inspired by different regions of Thailand. Some even hire specialised Thai cuisine chefs to provide their customers with authentic taste of the cuisine in different countries. Additionally, restaurants offer excellent social setting and ambience, providing customers with authentic Thai dishes and desserts, aiding the Thai cuisine market growth.

Competitive Landscape

MTY Food Group Inc., founded in 1979 and headquartered in Montreal, Canada, is an operator and franchisor of various casual dining, quick service, and fast casual restaurants. The brands under the food group include Koya Japan and Thai Express, among others.

McCormick & Company Inc. is a spice and extract manufacturing company that was founded in 1889 and is headquartered in Maryland, United States. The company is known for manufacturing and distributing condiments and spices, among other flavouring food products to food manufacturers.

Narathai Cuisine Co., Ltd. was established in 2003 and has its headquarters located in Bangkok, Thailand. The company offers a variety of food products including salads, noodles, rice, and soups, among others.

Other Thai cuisine market key players include Le Du, SanehJaan, Greyhound Café, Siam House, Bangkok Express, Exquisine System(HK) Co., Ltd., and Sri Tart Aroy-D Thai, among others.

Key Highlights of the Report