Thailand Foodservice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Thai Foodservice Market is segmented by Type (Full-service Restaurants, Quick-service Restaurants, Street Stalls and Kiosks, Cafes and Bars, and 100% Home Delivery Restaurants) and Structure (Independent and Chained). The report offers market size and forecasts in value (USD million) for the above segments.

Thailand Foodservice Industry Overview

Thailand Foodservice Market Size
Study Period: 2018 - 2028
CAGR: 4.19 %

Major Players

Thailand Foodservice Market Key Players

*Disclaimer: Major Players sorted in no particular order

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Thailand Foodservice Market Analysis

The Thai foodservice market is projected to witness a CAGR of 4.19% during the forecast period, 2022-2027.

The market has witnessed a certain impact due to the COVID-19 outbreak. The decline in the flow of international tourists impacted the foodservice sector. Almost 10-15% of restauranteurs quit their foodservice business in Thailand due to the growing travel restriction and closure of the dine-in facility. Around 20-30% of the dine-in quick-service restaurants were closed considering the pandemic situation. the remaining outlets were just opened for takeaways and home deliveries. Accordingly, many restaurants shifted their focus to delivery and takeaway, and this segment of the industry saw around 30% more growth than before.

Thailand is one of the major countries in the consumer foodservice industry among Southeast Asian countries. Over the medium term, the country’s tourism industry is likely to be one of the primary factors of growth for its foodservice industry once the situation gets better. According to the country’s Department of Tourism, such significant growth in tourism is attributed to domestic stability, the development of low-cost airlines, and considerable government measures to boost tourism.

  • Social networking sites, such as Facebook, Twitter, and Instagram, played a crucial role in augmenting the growth of the Thailand foodservice market. Celebrities from the entertainment industry have been posting images and providing feedback about their healthy lifestyles, which have contributed to and boosted the health and wellness trend in Thailand. The growing health and wellness trend in the country provided an opportunity for restaurants to offer vegan and organic food menus. Moreover, in order to cater to consumers’ needs, various food service establishments in the country are providing customized meals based on the consumers’ preferences and diets.

Thailand Foodservice Industry Segments

The foodservice industry defines those businesses, institutions, and companies responsible for any meal prepared outside the home. The Thai foodservice market is segmented by type and structure. By type, the market is segmented into full-service restaurants, quick-service restaurants, street stalls and kiosks, cafes and bars, and 100% home delivery restaurants. By structure, the market is segmented into independent and chained. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).

By Type
Full-service Restaurants
Quick-service Restaurants
Street Stalls and Kiosks
Cafes and Bars
100% Home Delivery Restaurants
By Structure
Independent
Chained

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Thailand Foodservice Market Trends

This section covers the major market trends shaping the Thailand Foodservice Market according to our research experts:

Growing Trend of Franchising Model

The franchising model is gaining popularity all over the world, including in Thailand. With the growing economy of the country, local and international franchising is gaining momentum in the market. Thailand's market is expected to see a rise in the growth rate of international franchising because of the interest of Thai business persons in diversifying their investment portfolio. Starting from quick-service restaurants to cafes and casual dining, all the food service sectors in Thailand face stiff competition because of the growing market, owing to the franchising setup. American fast-food giants like KFC, Taco Bell, Pizza Hut, McDonald's, etc., have gained a large market with their franchising model. Alongside, the growth of Japanese, Taiwanese, and Korean franchise models has gained larger momentum than the American ones. The food service market in Thailand shows a positive trend because of the rise in these franchising chains.

Thailand Foodservice Market Share

Full-service Restaurants are Gaining Popularity in Thailand

Full-service restaurants have a significant share of the restaurant industry. In Thailand, Japanese restaurants are highly preferred by the consumers, followed by Italian, Chinese, American, and Vietnamese restaurants. ​While chained full-service restaurants make up just over a third of the full-service sector, these restaurants are growing due to increased consumer preference for convenience, hygiene, and high-quality standards. High-end restaurants attract teenagers and young professionals by offering high-quality food in a unique ambiance. Many full-service restaurant chains offer takeout and delivery options, which are gaining popularity. The country shows potential in terms of price competitiveness, health and hygiene, ICT (Information and Communication Technology) readiness, business environment, and tourist service infrastructure.

Thailand Foodservice Market Report

Thailand Foodservice Market Competitor Analysis

The market is highly competitive with the presence of prominent companies, including Yum! Brands Inc., Starbucks Corporation, MK Restaurants Co. Ltd, McDonald's Corp., Starbucks Corporation, Minor International PCL, and Thai Beverage PCL. Companies are focusing on investing in small to medium-sized acquisitions or start-ups to further strengthen their organic growth capabilities. Players are expanding their presence in the country to gain more consumer attraction and have a competitive advantage over other players. MCTHAI Co., the licensed operator of McDonald's restaurants in Thailand, had set its 2020 vision to invest THB 5 billion and significantly increase the number of stores from 227 at present to 400 in five years.

Thailand Foodservice Market Top Players

  1. Yum! Brands

  2. Starbucks Corporation

  3. Mc Donald's Corporation

  4. MK Restaurants Co. Ltd.

  5. Thai Beverage PCL

*Disclaimer: Major Players sorted in no particular order

Yum! Brands, Starbucks Corporation, Mc Donald's Corporation, MK Restaurants Co. Ltd., Thai Beverage PCL

Thailand Foodservice Market Recent Developments

  • In 2021, KFC Thailand collaborated with Meat Zero to prepare a whole menu considering plant-based fried chicken. The company's product innovation was aimed at catering to the needs of health-conscious individuals, along with bringing in sustainability.
  • In 2021, Starbucks opened its largest store in Thailand in collaboration with Starbucks Reserve Chao Paraya Riverfront. This store remarks the first Teavana Bar in Thailand and also became the first store in Thailand to serve the North Thailand specialty coffee, Muan Jai Blend.

Thailand Foodservice Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Full-service Restaurants

      2. 5.1.2 Quick-service Restaurants

      3. 5.1.3 Street Stalls and Kiosks

      4. 5.1.4 Cafes and Bars

      5. 5.1.5 100% Home Delivery Restaurants

    2. 5.2 By Structure

      1. 5.2.1 Independent

      2. 5.2.2 Chained

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Yum! Brands Inc.

      2. 6.4.2 Starbucks Corporation

      3. 6.4.3 McDonald's Corporation

      4. 6.4.4 MK Restaurants Co. Ltd

      5. 6.4.5 Minor International Public Company Limited

      6. 6.4.6 Thai Beverage PLC

      7. 6.4.7 Seven & I Holdings Co. Ltd

      8. 6.4.8 Central Restaurants Group Co. Ltd

      9. 6.4.9 ZEN Corporation Group Public Company Limited

      10. 6.4.10 MK Inter Food Co. Ltd

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability
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Thailand Foodservice Market Research FAQs

The Thailand Foodservice Market is studied from 2018 - 2028.

The Thailand Foodservice Market is growing at a CAGR of 4.19% over the next 5 years.

Yum! Brands, Starbucks Corporation, Mc Donald's Corporation, MK Restaurants Co. Ltd., Thai Beverage PCL are the major companies operating in Thailand Foodservice Market.

Thailand Foodservice Industry Reports

In-depth industry statistics and market share insights of the Thailand Foodservice sector for 2020, 2021, and 2022. The Thailand Foodservice research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Thailand Foodservice report PDF.

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