COUNTRY PROFILE
Discover more about the Thailand market including overviews about the retail, foodservice, and food-processing sectors. Events, resources, and more are linked throughout the profile.
$384.2 million
In 2024, imports of U.S. processed foods to Thailand totaled US$384.2 million
3rd
The U.S. was the third largest supplier of agricultural products to Thailand in 2023
69.9 million
Thailand’s population was 69.9 million in 2024
The USDA Office of Agricultural Affairs (OAA) in Bangkok, hereinafter referred to as “FAS Post Bangkok,” reports that Thailand has the second largest GDP in ASEAN. The country has a dynamic, expanding consumer market, supported by a fast‑growing middle class. In 2023, the country was the 21st largest export market for U.S. agricultural products. In 2024, U.S. processed foods grew 7% and totaled US$384.2 million.
Top U.S. processed food exports to Thailand in 2024 included:
$17 billion
The retail sales value of packaged foods in Thailand was estimated at US$17 billion in 2024.
$113 billion
Thailand’s food retail sales was forecast to reach US$113 billion in 2024
$23.5 billion
By 2029, the retail packaged food sales are projected to reach US$23.5 billion
Euromonitor has estimated the retail sales value of packaged foods in Thailand at US$17 billion in 2024. They also forecast the packaged food retail sales to reach US$23.5 billion by 2029, an increase of 29.1%.
FAS Post Bangkok reports that the forecast for Thailand’s food retail sales for 2024 total retail sales is US$113 billion, a 3% growth from 2023. The food retail sector is projected to grow despite a high non-performing loan outlook and rising living costs impacting consumers’ spending power, especially among the middle class. The modern trade industry, a subset of the broader retail sector, had a total value of US$79 billion in 2023, accounting for 15.7% of Thailand’s GDP.
FAS Post Bangkok reports that the best product prospects for U.S. suppliers include seafood, soups and other food preparations, dairy products, tree nuts, fresh fruits, chocolate and cocoa products, wines, beer and spirits, beef, and pet food.
$32.8 billion
Thailand’s foodservice market was projected to be US$32.8 billion in 2024
$411.8 billion
In 2024, Thailand imported US$411.8 million in U.S. consumer-oriented food exports.
30-35%
of Thailand’s food products used in HRI sector are imported
FAS Post Bangkok reports Thailand’s hotel, restaurant, and intuitional (HRI) foodservice is expected to grow by 7% in 2024, with a market size of US$32.8 billion, supported by store expansion and a recovery in the tourism sector. However, there are factors that are expected to impact the business, such as the government’s policy of raising the minimum wage, which will result in higher costs since the foodservice business relies heavily on minimum wage labor. Additionally, the foodservice business faces increasingly intense competition from new entrants.
FAS Post Bangkok reports that the HRI sector sources about 30%-35% of its food products through imports. In 2024, Thailand imported US$411.8 million in U.S. consumer-oriented food exports. HRI foodservice operators regularly import U.S. beef, seafood, cheese, frozen potatoes, seasonings, fresh fruits, dried fruits, nuts, bakery fillings, fruit juice, juice concentrate, wines, craft beer, and health and wellness products. Food preparation and ready-to-eat meals continue to be key products for HRI establishments, accommodating both delivery services and small food outlets.
$71.8 billion
Thailand’s food industry revenue was projected at US$71.8 billion in 2024
$331.2 million
Thailand imported US$331.2 million in processed food products from the U.S. in 2023.
$6.7 billion
Thailand’s beverage market expected reach in 2025
FAS Post Bangkok reports that Thailand is a leading food and agricultural exporter with a well-developed food processing sector. With a rising global demand for processed foods, Thai food processors need to import large quantities of raw materials not available domestically.
Thailand’s imports of agricultural and related products in 2023 were valued at US$22.5 billion, a 3.2% drop compared to the previous year. Thailand’s Ministry of Industry reported that food imports in 2023 were valued at US$19.1 billion, a growth of 3.5% from the following key products: 1) cereals used as ingredients in Thailand’s health food industry, 2) oilseed meal used as a feed ingredient, and 3) flour products as the instant noodle and bakery industries expanded.
FAS Post Bangkok reports that products present in the market that have good sales potential include healthy and functional food ingredients, including dried fruits, nuts, pulses, plant-based proteins (e.g., soybeans, nuts, and pulses), dairy proteins, nutrients, etc. There is also a growing demand for organic, gluten-free, plant-based, herbal extracts, and immune-boosting food ingredients. There is interest in sweeteners used in non-alcohol beverages and the confectionery industry, fish fillets for processed seafood, frozen food, and ready-to-eat products.
