Market Focus: Trends & Developments in the Savory Snacks Sector in Thailand

Synopsis
This report brings together consumer insight and market data to provide a comprehensive brief of the Thai Savory Snacks sector. This allows for the rapid identification of key growth opportunities across major Savory Snacks categories and their packaging.
Scope
The Savory Snacks market in Thailand is currently constrained by low per capita consumption. Positive socio-economic factors such as a high share of the working population, rapid urbanization, and rising disposable income will boost growth in the Savory Snacks market in the country. The market grew at a CAGR of 3.6% in local currency terms during 2008–2013 and is forecast to grow at a CAGR of 4.0% during 2013–2018 driven by innovation in flavors, and new products with functional attributes. While Processed Snacks is the largest category by value, Nuts & Seeds is forecast to register highest growth at a CAGR of 5.9% during 2013–2018.
Summary
• Product innovation and demand for healthy snacks are the key driving factors in Thailand’s Savory Snacks market.
• Higher disposable income and rapid urbanization to drive Savory Snacks market in Thailand.
• Busy lives, western lifestyle, and greater participation of women in the workforce are factors driving the eating out trend in Thailand.
• Processed Snacks and Potato Chips account for the majority share in the Savory Snacks market.
• Consumers are paying more for the volume consumed owing to rising food inflation.
• Health concerns still remain the key in Savory Snacks decisions by Thai consumers.
Reasons To Buy
This overview of the consumer and market dynamics of the Thai Savory Snacks sector allows new entrants and established companies to gain rapid and comprehensive insight into the current state of the market and identify the key trends that will drive growth in the coming years.