Thailand Retail Market by Distribution Channel and Product - Forecast and Analysis 2023-2027

Published: Feb 2023

Pages: 136

SKU: IRTNTR70549

Snapshot

Thailand Retail Market Forecast 2023-2027

The retail market size in Thailand is expected to reach USD 63.19 billion, surging at a CAGR of 5.95% from 2022 to 2027. The market exhibits a fragmented structure and demonstrates a 5.41% Year-over-Year (YOY) growth. The report covers diverse dimensions such as the market size (forecast and historic data), influential drivers, analysis of prominent companies, and evolving trends, presenting a comprehensive outlook on the global market scenario. The rapid demand for convenience food products and the provision of value-added services is the upcoming trend and driving the growth of the Thailand Market. The reports offer crucial insights of the industry's changing dynamics, helping businesses to identify growth opportunities in the constantly evolving digital landscape.

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Segmentation

Offline: The market share growth by the offline segment will be significant during the forecast period. In 2020 the offline distribution channel accounted for the highest market share, with most retail products getting sold through physical stores. These included companies' proprietary outlets and organized stores such as departmental stores, hypermarkets, and supermarkets. Departmental stores, speciality stores, hypermarkets, and supermarkets are expected to account for the highest sales of products during the forecast period. Therefore, the offline distribution channel is expected to surge forward in terms of growth during the forecast period.

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The offline segment was valued at USD 149.46 billion in 2017 and continued to grow by 2021. The offline distribution segment is considered the most effective mode of distribution as it offers the touch-and-feel experience to consumers, considered the most influential means of marketing. Offline physical stores are projected to expand significantly in the country during the forecast period and enhance the reach and visibility of products. Additionally, almost all products are easily available in most organized stores, such as specialty stores, hypermarkets, supermarkets, and departmental stores across the country. Such factors will increase segment growth during the forecast period.

Market Dynamics and Customer Landscape

The market in Thailand is undergoing a transformative phase fueled by increasing disposable incomes and a rapid digital revolution. Investments in cutting-edge technologies are reshaping customer behaviors and expectations, with widespread smartphone penetration and a tech-savvy Gen-Z population driving the shift towards mobile commerce, one-click ordering, and voice shopping. Retailers are leveraging chatbots, mobile wallet payments, IoT, AI, AR, and VR to enhance operational efficiency and provide personalized product recommendations. Both in-store and online shopping experiences are being revolutionized through data analytics, machine learning, and streamlined inventory management and order fulfillment processes. Moreover, there is a growing emphasis on sustainability and environmental stewardship, with retailers adopting eco-friendly practices to reduce carbon footprints and promote environmental sustainability.

Key Market Driver

One of the key factors driving growth is the growing demand for convenience food products.

The retail market in Thailand is experiencing significant growth, driven by several key factors such as rising disposable incomes, widespread digital transformation, and substantial investments in innovative technologies. With the proliferation of smartphones and a tech-savvy Gen-Z population, retailers are embracing mobile commerce, one-click ordering, and voice shopping to cater to evolving customer behaviors. Additionally, the integration of chatbots, mobile wallet payments, IoT, AI, AR, VR, and automation is enhancing operational efficiency and providing customized product recommendations. Both in-store and online shopping experiences are being enhanced through data analytics, machine learning, and efficient inventory management, contributing to sustainability and environmental stewardship through eco-friendly practices and reduced carbon footprints.

Convenience food products are a type of processed and ready-to-eat food where the food is cooked partially and requires only limited preparation before consumption. With the rising busy daily schedules and an increase in the number of working women, the preference for convenience food products, including processed meat and poultry products, is increasing when compared with home-cooked food that needs to be prepared from scratch.

Significant Market Trend

The surge in sales through the online distribution channel is a key market trend.

In recent times, sales of products through the online distribution channel have undergone a substantial surge. Both established and private retailers are effectively selling their products through online shopping portals. As the online distribution channel eliminates the need for physical stores, merchandise, salespeople, and inventory, both established and private retailers in the market are focusing more on online sales.

Also, retailers are leveraging factors such as the significant increase in internet and smartphone penetration in the country to offer their products online. Factors such as the rapidly expanding population of working women, the rising number of nuclear families, and busy lifestyles discourage consumers from going to brick-and-mortar stores to fulfill their requirements. Therefore, consumers are increasingly adopting the online mode of shopping for buying FMCG and other products. Hence, the online distribution channel is a cost-effective option for both established and private retailers to sell their products.

Report Coverage

Retail Market in Thailand Segmentation
Retail Market in Thailand Regional Analysis
Retail Market in Thailand Companies Contribution

Retail Market in Thailand Companies Contribution

A.S. Watson Group - The company offers retail solutions through G9 Store. Also, this segment focuses on operating retail stores for health and beauty products.

The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

Market Challenges

The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth. For details analysis Buy Full Report

What are the Key Data Covered in this Country Research Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
Precise estimation of the size of the market size and its contribution to the parent market
Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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Market Analyst Overview

The market reflects the country's dynamic economic growth and bustling tourism industry. From supermarkets and hypermarkets to convenience stores and department stores, the modern trade sector offers a diverse range of services, including grocery items, apparel, electronics, and cosmetics. Online food retail and e-commerce platforms have gained popularity, catering to the urban population's convenience. High-quality brands are prevalent in supermarkets like Tesco Lotus and convenience stores like 7-Eleven and FamilyMart. With the influx of Chinese tourists, there's a rising demand for health solutions, herbs, and handicrafts. Urbanization levels drive consumer preferences toward daily necessities and personal care items, making Thailand's retail market a vibrant and ever-evolving landscape.

The market in Thailand is a dynamic landscape encompassing various sectors such as supermarkets/hypermarkets, smaller shops, and multinational retail companies like Unilever. With a focus on grocery products, fashion, health products, consumer electronics, and more, retailers cater to diverse consumer needs. The COVID-19 lockdown period significantly impacted the industry, particularly the tourism sector, prompting government plans to attract foreign investors and implement advanced technologies. Despite challenges, the industry in Thailand continues to evolve, with vendor insights driving innovation in grocery, apparel and footwear, and home and garden products. As the country gradually reopens and tourist arrivals increase, the retail sector anticipates further growth and adaptation to changing consumer preferences and market dynamics.

Retail Market In Thailand Scope
Report Coverage	Details
Page number	136
Base year	2022
Historic period	2017 - 2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 5.95%
Market growth 2023-2027	USD 63.19 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	5.41
Regional analysis	Thailand
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	A.S. Watson Group, Aeon Co. Ltd., Berli Jucker Public Co. Ltd., Central Group of Company, CJ Express Group Co. Ltd., CP All Public Co. Ltd., Foodland Supermarket Co. Ltd., Home Product Center Public Co. Ltd., Isetan Mitsukoshi Holdings Ltd., Rimping Supermarket, Robinsons Retail Holding Inc., Seven and i Holdings Co. Ltd., SPAR International, Tesco Plc, The Mall Group Co. Ltd., and Villa Market JP Co. Ltd.
Market dynamics	Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 07: Parent market
- Exhibit 08: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 09: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 10: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027
- Exhibit 11: Chart on Thailand - Market size and forecast 2022-2027 ($ billion)
- Exhibit 12: Data Table on Thailand - Market size and forecast 2022-2027 ($ billion)
- Exhibit 13: Chart on Thailand: Year-over-year growth 2022-2027 (%)
- Exhibit 14: Data Table on Thailand: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Retail market in Thailand 2017 - 2021
- Exhibit 15: Historic Market Size – Data Table on Retail market in Thailand 2017 - 2021 ($ billion)

4.2 Distribution Channel Segment Analysis 2017 - 2021
- Exhibit 16: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ billion)

4.3 Product Segment Analysis 2017 - 2021
- Exhibit 17: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers
- Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers
- Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants
- Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes
- Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry
- Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition
- Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Distribution Channel

6.1 Market segments
- Exhibit 25: Chart on Distribution Channel - Market share 2022-2027 (%)
- Exhibit 26: Data Table on Distribution Channel - Market share 2022-2027 (%)

6.2 Comparison by Distribution Channel
- Exhibit 27: Chart on Comparison by Distribution Channel
- Exhibit 28: Data Table on Comparison by Distribution Channel

6.3 Offline - Market size and forecast 2022-2027
- Exhibit 29: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
- Exhibit 30: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
- Exhibit 31: Chart on Offline - Year-over-year growth 2022-2027 (%)
- Exhibit 32: Data Table on Offline - Year-over-year growth 2022-2027 (%)

6.4 Online - Market size and forecast 2022-2027
- Exhibit 33: Chart on Online - Market size and forecast 2022-2027 ($ billion)
- Exhibit 34: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
- Exhibit 35: Chart on Online - Year-over-year growth 2022-2027 (%)
- Exhibit 36: Data Table on Online - Year-over-year growth 2022-2027 (%)

6.5 Market opportunity by Distribution Channel
- Exhibit 37: Market opportunity by Distribution Channel ($ billion)

7 Market Segmentation by Product

7.1 Market segments
- Exhibit 38: Chart on Product - Market share 2022-2027 (%)
- Exhibit 39: Data Table on Product - Market share 2022-2027 (%)

7.2 Comparison by Product
- Exhibit 40: Chart on Comparison by Product
- Exhibit 41: Data Table on Comparison by Product

7.3 Grocery - Market size and forecast 2022-2027
- Exhibit 42: Chart on Grocery - Market size and forecast 2022-2027 ($ billion)
- Exhibit 43: Data Table on Grocery - Market size and forecast 2022-2027 ($ billion)
- Exhibit 44: Chart on Grocery - Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Grocery - Year-over-year growth 2022-2027 (%)

7.4 Apparel and footwear - Market size and forecast 2022-2027
- Exhibit 46: Chart on Apparel and footwear - Market size and forecast 2022-2027 ($ billion)
- Exhibit 47: Data Table on Apparel and footwear - Market size and forecast 2022-2027 ($ billion)
- Exhibit 48: Chart on Apparel and footwear - Year-over-year growth 2022-2027 (%)
- Exhibit 49: Data Table on Apparel and footwear - Year-over-year growth 2022-2027 (%)

7.5 BPC - Market size and forecast 2022-2027
- Exhibit 50: Chart on BPC - Market size and forecast 2022-2027 ($ billion)
- Exhibit 51: Data Table on BPC - Market size and forecast 2022-2027 ($ billion)
- Exhibit 52: Chart on BPC - Year-over-year growth 2022-2027 (%)
- Exhibit 53: Data Table on BPC - Year-over-year growth 2022-2027 (%)

7.6 Home and garden - Market size and forecast 2022-2027
- Exhibit 54: Chart on Home and garden - Market size and forecast 2022-2027 ($ billion)
- Exhibit 55: Data Table on Home and garden - Market size and forecast 2022-2027 ($ billion)
- Exhibit 56: Chart on Home and garden - Year-over-year growth 2022-2027 (%)
- Exhibit 57: Data Table on Home and garden - Year-over-year growth 2022-2027 (%)

7.7 Others - Market size and forecast 2022-2027
- Exhibit 58: Chart on Others - Market size and forecast 2022-2027 ($ billion)
- Exhibit 59: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
- Exhibit 60: Chart on Others - Year-over-year growth 2022-2027 (%)
- Exhibit 61: Data Table on Others - Year-over-year growth 2022-2027 (%)

7.8 Market opportunity by Product
- Exhibit 62: Market opportunity by Product ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
- Exhibit 63: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

9.1 Market drivers

9.2 Market challenges

9.3 Impact of drivers and challenges
- Exhibit 64: Impact of drivers and challenges in 2022 and 2027

9.4 Market trends

10 Vendor Landscape

10.1 Overview

10.2 Vendor landscape
- Exhibit 65: Overview on Criticality of inputs and Factors of differentiation

10.3 Landscape disruption
- Exhibit 66: Overview on factors of disruption

10.4 Industry risks
- Exhibit 67: Impact of key risks on business

11 Vendor Analysis

11.1 Vendors covered
- Exhibit 68: Vendors covered

11.2 Market positioning of vendors
- Exhibit 69: Matrix on vendor position and classification

11.3 A.S. Watson Group
- Exhibit 70: A.S. Watson Group - Overview
- Exhibit 71: A.S. Watson Group - Product / Service
- Exhibit 72: A.S. Watson Group - Key offerings

11.4 Aeon Co. Ltd.
- Exhibit 73: Aeon Co. Ltd. - Overview
- Exhibit 74: Aeon Co. Ltd. - Business segments
- Exhibit 75: Aeon Co. Ltd. - Key offerings
- Exhibit 76: Aeon Co. Ltd. - Segment focus

11.5 Berli Jucker Public Co. Ltd.
- Exhibit 77: Berli Jucker Public Co. Ltd. - Overview
- Exhibit 78: Berli Jucker Public Co. Ltd. - Business segments
- Exhibit 79: Berli Jucker Public Co. Ltd. - Key news
- Exhibit 80: Berli Jucker Public Co. Ltd. - Key offerings
- Exhibit 81: Berli Jucker Public Co. Ltd. - Segment focus

11.6 Central Group of Company
- Exhibit 82: Central Group of Company - Overview
- Exhibit 83: Central Group of Company - Product / Service
- Exhibit 84: Central Group of Company - Key news
- Exhibit 85: Central Group of Company - Key offerings

11.7 CJ Express Group Co. Ltd.
- Exhibit 86: CJ Express Group Co. Ltd. - Overview
- Exhibit 87: CJ Express Group Co. Ltd. - Product / Service
- Exhibit 88: CJ Express Group Co. Ltd. - Key offerings

11.8 CP All Public Co. Ltd.
- Exhibit 89: CP All Public Co. Ltd. - Overview
- Exhibit 90: CP All Public Co. Ltd. - Business segments
- Exhibit 91: CP All Public Co. Ltd. - Key news
- Exhibit 92: CP All Public Co. Ltd. - Key offerings
- Exhibit 93: CP All Public Co. Ltd. - Segment focus

11.9 Foodland Supermarket Co. Ltd.
- Exhibit 94: Foodland Supermarket Co. Ltd. - Overview
- Exhibit 95: Foodland Supermarket Co. Ltd. - Product / Service
- Exhibit 96: Foodland Supermarket Co. Ltd. - Key offerings

11.10 Home Product Center Public Co. Ltd.
- Exhibit 97: Home Product Center Public Co. Ltd. - Overview
- Exhibit 98: Home Product Center Public Co. Ltd. - Product / Service
- Exhibit 99: Home Product Center Public Co. Ltd. - Key offerings

11.11 Isetan Mitsukoshi Holdings Ltd.
- Exhibit 100: Isetan Mitsukoshi Holdings Ltd. - Overview
- Exhibit 101: Isetan Mitsukoshi Holdings Ltd. - Business segments
- Exhibit 102: Isetan Mitsukoshi Holdings Ltd. - Key news
- Exhibit 103: Isetan Mitsukoshi Holdings Ltd. - Key offerings
- Exhibit 104: Isetan Mitsukoshi Holdings Ltd. - Segment focus

11.12 Rimping Supermarket
- Exhibit 105: Rimping Supermarket - Overview
- Exhibit 106: Rimping Supermarket - Product / Service
- Exhibit 107: Rimping Supermarket - Key offerings

11.13 Robinsons Retail Holding Inc.
- Exhibit 108: Robinsons Retail Holding Inc. - Overview
- Exhibit 109: Robinsons Retail Holding Inc. - Business segments
- Exhibit 110: Robinsons Retail Holding Inc. - Key offerings
- Exhibit 111: Robinsons Retail Holding Inc. - Segment focus

11.14 Seven and i Holdings Co. Ltd.
- Exhibit 112: Seven and i Holdings Co. Ltd. - Overview
- Exhibit 113: Seven and i Holdings Co. Ltd. - Business segments
- Exhibit 114: Seven and i Holdings Co. Ltd. - Key offerings
- Exhibit 115: Seven and i Holdings Co. Ltd. - Segment focus

11.15 SPAR International
- Exhibit 116: SPAR International - Overview
- Exhibit 117: SPAR International - Product / Service
- Exhibit 118: SPAR International - Key offerings

11.16 Tesco Plc
- Exhibit 119: Tesco Plc - Overview
- Exhibit 120: Tesco Plc - Business segments
- Exhibit 121: Tesco Plc - Key news
- Exhibit 122: Tesco Plc - Key offerings
- Exhibit 123: Tesco Plc - Segment focus

11.17 The Mall Group Co. Ltd.
- Exhibit 124: The Mall Group Co. Ltd. - Overview
- Exhibit 125: The Mall Group Co. Ltd. - Product / Service
- Exhibit 126: The Mall Group Co. Ltd. - Key offerings

12 Appendix

12.1 Scope of the report

12.2 Inclusions and exclusions checklist
- Exhibit 127: Inclusions checklist
- Exhibit 128: Exclusions checklist

12.3 Currency conversion rates for US$
- Exhibit 129: Currency conversion rates for US$

12.4 Research methodology
- Exhibit 130: Research methodology
- Exhibit 131: Validation techniques employed for market sizing
- Exhibit 132: Information sources

12.5 List of abbreviations
- Exhibit 133: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

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What are the latest trends influencing the growth of this market?
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What are the factors influencing the growth of the parent market?

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