Latest News- Retail Market in Thailand: Grocery is expected to lead the Product segment during 2025-2029

The Retail Market in Thailand is being driven by Growing demand for convenience food products

The Retail Market in Thailand is expected to grow at a CAGR of 6.9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 49.69 billion. In the Thai retail market, the online distribution channel has experienced exponential growth, with both established and private retailers effectively selling their merchandise through digital shopping portals. Eliminating the need for physical stores, salespeople, and inventory, retailers are increasingly prioritizing online sales. Factors such as the substantial increase in internet and smartphone penetration, as well as the expanding population of working women and nuclear families, have encouraged consumers to opt for time-saving and rational online shopping platforms for their daily FMCG needs. These trends are expected to continue shaping the retail landscape in Thailand. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Grocery
  • Apparel and footwear
  • BPC
  • Home and garden
  • Others
• Distribution Channel
  • Offline
  • Online
• Pricing Scheme
  • Cash
  • Digital payment
  • Buy now pay later
• Geography
  • Thailand

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing demand for convenience food products
• Provision of value-added services
• Influx of numerous retail stores

However, the market also witnesses some limitations, which are as follows:

• Threat from counterfeit products
• Trade risks associated with retail industry
• Issues related to logistics and supply chain operations

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Market Scope in Retail Market in Thailand Research Report

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Research Analysis Overview

In Thailand's retail market, sectors such as home and garden, convenience food products, and processed meat cater to the needs of working women seeking financial independence. Online shopping, including ecommerce players and food service, experiences growth due to card abandonment and product return rates. Niche trends like technology products, healthcare and wellness, media and entertainment, and live streaming engagement also thrive. Cross-border ecommerce and online food service are additional commercial assessments shaping the market.

Market Research Overview

The Thai retail market encompasses sectors such as home and garden, convenience food products, processed meat, and consumer discretionary goods. According to Technavio, the Thai broadline retail market size is determined by the revenues generated by various retail segments, including online retailers and marketplaces, department stores, and general merchandise providers. Key growth drivers for this market include the expanding population of financially independent working women, the increasing trend towards online shopping, and the widespread adoption of advanced mobile devices and high Internet penetration. These factors enable consumers to conveniently access a diverse range of on-demand products and services in the home and garden, convenience food, processed meat, and consumer discretionary categories.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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