Thailand is home to over 69 million inhabitants, and recorded a real GDP growth rate of 7.9% in 2010, which is
not only up from the -2.3% registered in 2009, but higher than pre-recessionary growth rates. Consumer
disposable incomes continue to rise, along with expenditures on food and beverages, with the latter reaching
US$63.6 billion in 2010. Per capita disposable incomes rose 36% from 2005 to 2010.
The typical Thai diet is much like the Indonesian diet and consists largely of rice, vegetables, fish and seafood.
Health and wellness products are more popular in Thailand than Indonesia on a per capita basis, due to
increased awareness from media campaigns and Ministry of Public Health messaging. Thai consumers are
also very concerned about the environment and are interested in purchasing eco-friendly products. Organic
products are therefore expected to see high growth from a very low consumption base.
Spending on food and non-alcoholic beverages accounted for 25% of all household expenditures in 2010. Thai
culture emphasizes the importance of food, and eating out for social purposes is popular. Traditional grocery
retailers control 62% of grocery market sales, but consumers in Thailand are slowly shifting their preferences
towards shopping at larger supermarkets and hypermarkets, instead of small, independently owned grocers.
However, shopping preferences also rely on accessibility; consumers in urban areas will generally purchase
food from larger retailers once or twice a week, while shoppers in rural areas will shop at smaller stores or wet
markets on a daily basis. Most Thais will eat at home for dinner and dine out for lunch, for a quick snack, or
social occasion. According to Euromonitor, Thais will dine out an average of 13 times per week, usually at
street vendors, fast food outlets, cafés or snack bars during work hours.
From 2005 to 2010, all major Thai cities saw population increases and the number of single-person
households grew by 17%, reflecting continued urbanization. Sales of frozen foods and ready-meals are
subsequently expected to grow.