Thailand Foodservice Market Size

Thailand Foodservice Market Analysis

The Thailand Foodservice Market size is estimated at 32.85 billion USD in 2024, and is expected to reach 47.79 billion USD by 2029, growing at a CAGR of 7.78% during the forecast period (2024-2029).

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32.85 Billion

Market Size in 2024 (USD)

47.79 Billion

Market Size in 2029 (USD)

2.87 %

CAGR (2017-2023)

7.78 %

CAGR (2024-2029)

Largest Segment by Foodservice Type

50.74 %

value share, Quick Service Restaurants, 2023

The preference for chicken and pork-based fast food, with a per capita consumption of nearly 22 kg in 2022, is driving the expansion of quick service restaurants in Thailand.

Largest Segment by Outlet Type

74.59 %

value share, Independent Outlets, 2023

Independent restaurants have distinct menus and dining experiences that attract not only locals but also millions of tourists who visit the country, promoting the growth of the segment.

Fastest-growing segment by Foodservice Type

25.57 %

Projected CAGR, Cloud Kitchen, 2024-2029

Delivery applications, like GrabFood, Food Panda, and Line Man, have registered more than a million active users, which acts as a driver for the growth of cloud kitchens.

Fastest-growing segment by Outlet Type

8.28 %

Projected CAGR, Chained Outlets, 2024-2029

In 2022, 62% of people in the country consumed meat regularly, and to cater to this expanding base, international brands, like KFC and McDonald's, added hundreds of new outlets.

Leading Market Player

0.66 %

market share, CP All PCL, 2022

CP All PCL operates convenience stores under the 7-Eleven brand with a total of 12,587 stores in the nation and plans to open franchised stores in 2023.

The rise in veganism and vegetarianism in the country led to the expansion of plant-based menu options

Thailand Foodservice Industry Segmentation

Cafes & Bars, Cloud Kitchen, Full Service Restaurants, Quick Service Restaurants are covered as segments by Foodservice Type. Chained Outlets, Independent Outlets are covered as segments by Outlet. Leisure, Lodging, Retail, Standalone, Travel are covered as segments by Location.

• Quick service restaurants held the largest market share in the market in 2022. The segment is projected to grow, registering a CAGR of 8.22%, by value, during the forecast period. The market's expansion can be attributed to the country's continued inclination for health-conscious diets after the pandemic. In 2022, 65% of Thai consumers adopted a flexitarian diet due to health concerns, while 20% put down weight.
• Moreover, the rise of veganism and vegetarianism in recent years encouraged restaurants to expand their plant-based menu items. Thus, food brands are increasingly developing foods in line with flexitarian and vegan options to attract more health-conscious consumers. For instance, in 2021, Perdue Foods Chicken Plus products included a blend of chicken, vegetables, and plant-based protein. Farm Food USA Inc. introduced a variety of flexitarian meat products that are 25-30% plant-based.
• Full-service restaurants are projected to register a CAGR of 7.46%, by value, during the forecast period. The growth will be supported by increased tourism and visitors looking for authentic Asian cuisines. In Thailand, Japanese restaurants are highly preferred by consumers, followed by Italian, Chinese, American, and Vietnamese. Popular Thai dishes preferred by locals and tourists are Tom Yum Goong (the spicy shrimp soup), Laab (spicy salad), Som Tam (spicy green papaya salad), and Pad Thai.
• The cloud kitchen segment is the fastest growing and is anticipated to register a CAGR of 25.40% during the forecast period. The growth will be due to rising online food deliveries through smartphone applications. As of January 2022, there were around 54.50 million internet users in Thailand, and internet penetration stood at 77.8% of the total population.