Juices - Thailand

The Juices market in Thailand has witnessed significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Thailand has a tropical climate, making it a perfect market for fruit juices. Consumers in Thailand are increasingly seeking healthier beverage options, and fruit juices provide a refreshing and nutritious choice. With rising health consciousness, there is a growing demand for natural and organic juices that are free from artificial additives and preservatives. Additionally, Thai consumers prefer juices that are made from locally sourced fruits, as they believe in supporting local farmers and promoting sustainability.

Trends in the market: One of the key trends in the Juices market in Thailand is the growing popularity of functional juices. Functional juices are enriched with vitamins, minerals, and other beneficial ingredients that offer specific health benefits. These juices cater to different consumer needs, such as immune-boosting, detoxification, and energy enhancement. The demand for functional juices is driven by the increasing awareness of health benefits and the desire for convenient and on-the-go nutrition. Another trend in the market is the rising popularity of cold-pressed juices. Cold-pressed juices are made by extracting juice from fruits and vegetables without using heat, which helps to retain more nutrients and enzymes. These juices are perceived as healthier and more natural compared to conventional juices. The trend towards cold-pressed juices is driven by the growing interest in wellness and clean-label products.

Local special circumstances: Thailand is known for its abundant supply of tropical fruits, such as mangoes, pineapples, and coconuts. This gives the country a competitive advantage in the production of fruit juices. The availability of fresh and high-quality fruits allows juice manufacturers to create a wide variety of flavors and formulations to cater to different consumer preferences. Moreover, the local fruit industry benefits from the demand for fruit juices, as it provides a stable market for their produce.

Underlying macroeconomic factors: Thailand has experienced steady economic growth in recent years, which has positively impacted the Juices market. Rising disposable incomes have led to increased consumer spending on food and beverages, including juices. As consumers have more purchasing power, they are willing to spend on premium and healthier products, driving the growth of the Juices market. In conclusion, the Juices market in Thailand is witnessing growth due to changing customer preferences, emerging trends, and local special circumstances. The demand for healthier and functional beverages, along with the availability of a wide variety of tropical fruits, has contributed to the expansion of the market. With a growing economy and increasing disposable incomes, the Juices market in Thailand is expected to continue its upward trajectory in the coming years.

Data coverage:

The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:

Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on Non-Alcoholic Drinks, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Non-Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.