Forecast: Expenditures on Food in Thailand

Observing the expenditures on food in Thailand from 2013 to 2023, we see significant fluctuations, with the highest per capita expenditure in 2013 at $1.28k and a noticeable dip in 2015 to $0.8616k. From 2016 onwards, the expenditures gradually increase, culminating in a figure of $1.06k per capita in 2023. The last year-on-year variation was a modest 1.84%. On average, the compound annual growth rate (CAGR) in the past five years was approximately 2%, indicating a steady, albeit slow, increase in food expenditures.

Looking forward, projections from 2024 to 2028 suggest a continued upward trend, with a forecasted CAGR of 1.42% and an overall growth rate of 7.31%. This points to a persistent, albeit moderate, rise in food spending in Thailand.

Future trends to watch for:

• Economic factors influencing disposable incomes and consumer behavior.
• Changes in dietary preferences and increased demand for health-conscious and premium food products.
• Potential impacts of global supply chain fluctuations and inflation on food prices.