From 2014 to 2023, the infant food market in Thailand has seen a steady decline in volume, from 10.0 thousand metric tons to 5.0 thousand metric tons. The largest year-on-year drop was between 2016 and 2017, recording a 22.22% decrease. While the market stabilized in 2017 and 2019 with no growth, the five-year CAGR ending in 2023 was -3.58%, indicating a persistent overall downward trend.
Looking at the forecasted data from 2024 to 2028, the decline is expected to continue, with the market projected to shrink to 3.45 thousand metric tons by 2028. The forecasted five-year CAGR is -5.52%, predicting a cumulative 24.73% reduction over this period.
Future trends to watch for:
- Demographic changes impacting birth rates.- Economic conditions that influence consumer spending.- Emerging baby food trends focused on organic and health-centric products.
