Between 2014 and 2023, Thailand’s infant food demand saw a significant downward trend, falling from 10.0 Thousand Metric Tons to 5.0 Thousand Metric Tons. This represents a substantial total decline, with the average annual decrease (CAGR) over the last five years being -3.58%. Particularly notable drops occurred in 2015 (-10%), 2016 (-22.22%), and 2018 (-14.29%). The past two years saw stabilization, with no change recorded in 2022 and 2023.
Future forecasts indicate a continued decline, expected to drop from 4.59 Thousand Metric Tons in 2024 to 3.45 Thousand Metric Tons by 2028. The projected annual decline rate (CAGR) over this period is -5.52%, suggesting an overall 24.73% decrease by 2028.
Future trends to watch for:
- Economic factors affecting household income and spending on infant products.
- Demographic changes such as birth rates and population growth or decline.
- Potential shifts towards alternative infant food options or homemade preparations.
- Regulatory changes impacting the infant food market, including safety and nutritional standards.
