Products made from milk, which is generally generated by animals like sheep, goats, and cows, are referred to as dairy products. Milk, cheese, yoghurt, butter, and cream are some of these goods. Dairy products are a vital component of a balanced diet because they are high in vitamins, calcium, and other minerals that support bone health, muscle growth, and general wellbeing. Churning, coagulation, and fermentation are some of the processes used to turn milk into the different products that it is. Plant-based substitutes such as almond or soy milk have become popular because, in spite of its nutritional advantages, some people may be lactose intolerant or want to follow other dietary or ethical guidelines.
Thailand Dairy Products Market Driving Factors and Challenges
The market is expanding due to many causes such as the increased demand for convenience food, shifting lifestyles, growing consumer health consciousness, and growing knowledge of the nutritional advantages of dairy products. People are choosing more and more ready-to-eat or ready-to-cook meal items due to their hectic schedules and chaotic lifestyles. This has caused a surge in the demand in Thailand for a range of instantaneously consumable processed cheeses, yoghurts, and other dairy products. These dairy products are also appealing to consumers who seek variety over monotony when selecting a favourite product because they come in a variety of flavours and variations. As a result of growing awareness of the potential negative effects of eating unhealthy diets with unbalanced nutrition content over an extended period of time, people are choosing healthier options like milk and yoghurt over commercially available sweetened carbonated drinks. Producers have responded to these demands by introducing low-fat and non-fat varieties, which enable them to reach health-conscious consumers searching for low-calorie diet options without sacrificing flavour.
This has led to an increase in sales prospects for the producers. Even though dairy products are a major player among ASEAN nations, the per capita consumption of these products is still much lower. This is because there is a lack of infrastructure to support effective distribution networks, and there are few players in this market, which makes it prone to monopolies in some areas. It is also difficult to access these commodities easily in remote areas of the country, which limits the sector's potential for domestic growth. Because the weather affects agricultural production year-round, price fluctuations are primarily caused by climatic events. This makes it difficult to meet customer demands and directly affects domestic production rates and quality standards across the entire supply chain.
Impact of COVID-19 on Thailand Dairy Products Market
The Covid-19 epidemic has had a major effect on the dairy products industry in Thailand. Preceding the viral epidemic, Thailand's economy was already experiencing a downturn, and the current situation has made matters worse. Furthermore, mobility restrictions have strained national dairy product demand and upset supply chains.
Thailand Dairy Products Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Betagro PCL, CP Group, Dutch Mill Group Public Company Limited (DMG), Friesland Campina PLC, Thailand President Foods PCL., Tipco Foods, Others.
Thailand Dairy Products Market Segmentation:
By Product Type: Based on the Product Type, Thailand Dairy Products Market is segmented as; Butter, Buttermilk, Cheese, Cream, Ice Cream, Lactose-Free Dairy Products, Milk, Yoghurt.
By Distribution Channel: Based on the Distribution Channel, Thailand Dairy Products Market is segmented as; Convenience Store, Supermarkets & Hypermarkets, Online.
By Region: This research also includes data for Central Region, Southern Region, Northern Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.