Thailand’s future food industry is projected to see 5% growth this year, as the demand for healthier and more environmentally friendly food options grows in the country. Visit Limluecha, President of the Thai Future Food Trade Association highlighted this growing trend amidst rising cost of raw materials and a more challenging global climate which will affect food production in the long term.
From 2016 to 2022, the Thai future food sector experienced an average annual growth of 7%, with the industry’s value increasing from US$2.5 billion to US$3.73 billion. This accounted for 9% of all food exports in 2022. The association aims for a 5% growth in Thai future food exports this year, building on the high base established last year. The value of US$3.73 billion, a 12% increase from 2021, was driven by increased demand for food security and heightened health awareness among consumers in both domestic and international markets following the pandemic.
Limluecha said, “The food industry must accelerate efforts to add value to their products, ensuring reliability, enhancing food security, and fostering fair trade competition to meet the UN Sustainable Development Goals.” As part of the country’s effort to raise awareness of future food, the Association has played its part by launching a campaign called “Wen Day on Wednesday”. The campaign encourages Thai consumers, restaurants, canteens, schools, hotels, and hospitals to offer future foods every Wednesday. This Thai initiative is inspired by overseas campaign initiatives like Meatless Monday in the US which promotes the
EGGS consumption of alternative protein products like plant-based, cultivated meat, mushroom/algae, and insect-based foods, as well as organically grown and functional foods.
The pandemic has indeed made more consumers aware of their own health leading to the rise in demand for products that promote health, strengthen immune system as well as products that are eco-friendly, hygienic/safe and support the environment. Food producers, on the other hand, have made greater efforts in improving their product formulations and work much closer with both their suppliers, for example the ingredients companies, to address the needs of the end consumers.
Growing environment concerns have also led to greater food insecurity. As a result, consumers are now increasingly aware of the importance of sustainable sourcing and responsible production methods without causing damage to the environment or impacting the health of consumers or workers along the food chain.
