The beer market size in Thailand has seen a moderate increase from 2.08 Million Metric Tons in 2014 to 2.42 Million Metric Tons in 2023. While initial growth rates were high, peaking at 3.89% year-on-year in 2018, a notable decline occurred in 2019 and 2020. The market rebounded in 2021 with a growth rate of 6.2%, stabilizing around 0.83% by 2023. Over the past five years, the Compound Annual Growth Rate (CAGR) has averaged 0.64%. Forecasts indicate continued, albeit slow, growth with a projected CAGR of 0.67% from 2024 to 2028, leading to an estimated market size of 2.53 Million Metric Tons by 2028.
Future trends to watch for:
- Growing consumer interest in craft and premium beers, driving diversification.
- Potential regulatory changes impacting production and consumption.
- Shifts in consumer behavior due to economic fluctuations and health trends.