Few industries are more vast, dynamic and rich in opportunity for Thai producers than the food and beverage sector. Revenues of this industry worldwide totalled some $6.5 trillion in 2012, about 8% of global gross domestic product. The industry is growing continuously, and is being transformed by changing demographics and consumer behavior.
People around the world, especially in urbanising Asia, are buying different types of food as lifestyles change, work hours increase, traffic worsens and more women work outside the home. Thai food companies need to keep ahead of the trends and competition.
Instant foods and ready-to-eat meals are a segment bound to grow, especially in emerging markets. Globalisation and urbanisation are modernising lifestyles around the world. Speed and convenience are increasing priorities for busy consumers short on time to cook, driving sales of instant foods. Global sales of instant noodles, for example, are expected to double by 2022.
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