According to the report, the plant protein market in Thailand is expected to grow by 24.1% on an annual basis to reach US$66.0 million in 2025.
The plant protein market in the region has experienced robust growth during 2020-2024, achieving a CAGR of 27.1%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 18.9% during 2025-2029. By the end of 2029, the plant protein market is projected to expand from its 2024 value of US$ 53.1 million to approximately US$ 161.2 million.
This report provides a detailed data-centric analysis of the plant protein industry in Thailand, covering market opportunities and analysis across a range of plant protein, product categories, domains. With over 50+ KPIs at the country level, this report provides a comprehensive understanding of plant protein market dynamics, market size and forecast, and market share statistics.
It breaks down market opportunities by protein consumption, functional segment, product categories, ingredients, and, price point. In addition, it provides a snapshot across city, age, and, demographics. The report also segments the market by sales channel and retail outlet, offering insights into end user trends. KPIs in value terms help in gaining an in-depth understanding of end-market dynamics.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.
The plant protein market in the region has experienced robust growth during 2020-2024, achieving a CAGR of 27.1%. This upward trajectory is expected to continue, with the market forecast to grow at a CAGR of 18.9% during 2025-2029. By the end of 2029, the plant protein market is projected to expand from its 2024 value of US$ 53.1 million to approximately US$ 161.2 million.
Key Insights
Growing Consumer Demand for Healthier Diets
- The rising inclination towards healthier lifestyles and diets is a significant trend impacting the plant protein market in Thailand. Consumers are increasingly aware of the health benefits associated with plant-based proteins, such as lower cholesterol levels and reduced risk of chronic diseases. This shift is evident in the increased consumption of plant-based foods and beverages in urban areas like Bangkok and Chiang Mai.
- This trend is driven by a combination of increased health awareness among the Thai population, influenced by global wellness movements and local health campaigns. The prevalence of lifestyle-related diseases such as obesity and diabetes has prompted consumers to seek healthier dietary alternatives. Additionally, the COVID-19 pandemic has heightened health awareness, pushing more consumers towards nutritious and immune boosting foods.
- Over the next 2-4 years, this trend is expected to intensify as more Thai consumers embrace plant-based diets. Educational campaigns by health organizations and the influence of social media health influencers will likely accelerate this shift. The market could see a surge in demand for plant-based protein products, leading to expanded product lines and increased availability in retail outlets.
Sustainability and Environmental Concerns
- Environmental sustainability is becoming a pivotal factor in consumer decision making within Thailand. Plant protein products are perceived as more sustainable compared to animal-based products due to lower greenhouse gas emissions and reduced water usage.
- The Thai government's efforts to promote sustainable agricultural practices and reduce the environmental footprint of the food industry are significant drivers of this trend. The devastating impacts of climate change, evident through increased frequency of floods and droughts in Thailand, have also heightened public awareness about environmental issues.
- This trend is expected to stabilize as sustainability becomes a standard consideration in food purchasing decisions. Companies investing in sustainable sourcing and production practices will likely see increased consumer loyalty and potentially higher market shares. However, the pace of change may be moderated by economic factors, including cost considerations for both producers and consumers.
Innovation in Plant Protein Products
- Innovation in product development is a crucial trend, with companies in Thailand exploring new plant-based protein sources and product formats. There is a noticeable shift towards creating plant-based versions of traditional Thai dishes, catering to local tastes while maintaining nutritional value.
- This trend is driven by advancements in food technology, enabling companies to mimic the texture and flavor of animal proteins more effectively. The competitive landscape of the food industry has prompted companies to differentiate their offerings, resulting in increased investments in research and development. Cultural preferences for traditional flavors and dishes also drive innovation to ensure plant-based products appeal to local consumers.
- In the next 2-4 years, this trend is anticipated to intensify, with more companies investing in product innovation to capture market share. The introduction of novel plant proteins such as pea protein and mung bean protein, which align with local agricultural capabilities, might gain traction. This could lead to a diversified product portfolio, appealing to a wider consumer base.
Policy and Regulatory Developments
- The regulatory landscape governing food safety and labeling in Thailand is evolving, impacting the plant protein market. New regulations are focusing on clear labeling, ensuring that plant-based products are accurately represented and safe for consumption.
- These regulatory changes are driven by the need to protect consumer interests and ensure market transparency. The Thai Food and Drug Administration (FDA) plays a critical role in establishing these guidelines, influenced by both domestic consumer advocacy groups and international food safety standards.
- The impact of regulatory developments is expected to stabilize, influencing how products are marketed and consumed. Companies will need to comply with labeling requirements, which may necessitate adjustments in packaging and marketing strategies. While these regulations could initially challenge some companies, they will ultimately contribute to increased consumer trust and market credibility.
Rise of Ecommerce Platforms
- The growth of ecommerce platforms is reshaping the distribution and accessibility of plant protein products in Thailand. Online grocery stores and platforms like Lazada and Shopee are expanding their offerings to include a variety of plant-based options.
- This trend is primarily driven by increased internet penetration and smartphone usage among Thai consumers. The convenience of online shopping, especially during the COVID-19 pandemic, accelerated the shift towards ecommerce. Additionally, partnerships between ecommerce platforms and plant-based product manufacturers facilitate a broader reach.
- Over the next 2-4 years, the rise of ecommerce is expected to intensify, providing plant protein producers with expanded market access and consumer reach. As ecommerce platforms enhance their logistics and delivery capabilities, consumers will have greater access to a wide range of plant protein products, potentially boosting sales and market growth.
The Competitive Landscape and Future Outlook of the Plant Protein Market in Thailand
The plant protein market in Thailand is experiencing robust growth with increasing product innovation and availability, indicating a strong foundation for future expansion.Market Maturity
- The plant protein market in Thailand is in a growth phase, characterized by increasing consumer awareness and demand for healthier, sustainable dietary choices.
- Market maturity is advancing with a significant number of product launches in the past year, focusing on both local flavors and international plant protein trends.
Innovation Levels
- Innovations are primarily driven by advancements in food technology that enhance the taste, texture, and nutritional profile of plant-based proteins.
- Innovations include the development of plant protein sources beyond soy and wheat, such as pea protein, mung bean, and indigenous Thai plants.
Product Availability
- An expanding variety of plant protein products are available, ranging from meat analogs to dairy alternatives and protein supplements.
- Retail shelves and food service providers are increasingly stocking plant-based options, with a noticeable presence in urban areas and among health conscious consumer segments.
Key Players and New Entrants
The competitive landscape is characterized by a mix of global giants, local conglomerates, and agile startups, all contributing to a dynamic market environment.Recent Partnerships, Mergers, and Acquisitions
The market is witnessing strategic collaborations and acquisitions, reflecting a trend towards consolidation and innovation driven growth.Major Companies
Globally established companies such as Beyond Meat and Impossible Foods have entered the Thai market through strategic partnerships and distribution agreements. Local firms, notably Thai Union and CPF (Charoen Pokphand Foods), have diversified their portfolios to include plant-based protein products.Traditional Food Giants
Traditional food companies in Thailand are investing in plant protein R&D, leveraging their manufacturing capabilities and distribution networks to capture market share. Nestlé and Unilever, through their respective plant-based brands, have launched products tailored to the Thai palate.New Startups
Startups like Meat Avatar and More Meat are gaining traction by offering innovative and culturally relevant plant-based products. These startups are capitalizing on the growing trend towards healthy lifestyles, emphasizing local sourcing and sustainability.Consolidation Trends
The past year has seen increased consolidation activities as companies aim to enhance their market positions and technological capabilities.Tech Partnerships
Partnerships between food tech companies and traditional manufacturers are prevalent, aimed at improving product formulations and scaling production. Thai Union’s collaboration with Israeli startup Flying SpArk to develop alternative proteins is a notable example.Strategic Acquisitions
Strategic acquisitions have focused on gaining access to innovative technologies and expanding product lines. CPF’s acquisition of UK based plant-based food manufacturer, The Meatless Farm, highlights the trend towards strategic international expansions.Future Outlook (Next 2-4 Years)
The competitive landscape of the plant protein market in Thailand is poised for diversification and intensification, driven by technological innovations, strategic collaborations, and a growing consumer base. As market players adapt to evolving consumer preferences and technological advancements, the industry is set for dynamic growth and transformation over the next few years.Competition Evolution
Competition in the plant protein market is expected to intensify as more players enter and existing companies expand their offerings. The introduction of more advanced and diverse plant protein products will likely elevate competitive dynamics.Diverse Product Development
Product diversification will continue, with companies exploring novel plant sources and targeting various consumer segments including flexitarians and those with specific dietary needs.Market Consolidation
As the market matures, a phase of consolidation is anticipated, with major players potentially acquiring smaller, innovative startups to bolster their portfolios. Strategic partnerships will likely increase, focusing on shared R&D efforts and distribution agreements to maximize market penetration.This report provides a detailed data-centric analysis of the plant protein industry in Thailand, covering market opportunities and analysis across a range of plant protein, product categories, domains. With over 50+ KPIs at the country level, this report provides a comprehensive understanding of plant protein market dynamics, market size and forecast, and market share statistics.
It breaks down market opportunities by protein consumption, functional segment, product categories, ingredients, and, price point. In addition, it provides a snapshot across city, age, and, demographics. The report also segments the market by sales channel and retail outlet, offering insights into end user trends. KPIs in value terms help in gaining an in-depth understanding of end-market dynamics.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view of emerging business and investment market opportunities.
ScopeThis report provides an in-depth, data-centric analysis of the plant protein market in Thailand 2020-2029. Below is a summary of key market segments:
Protein Consumption Market Size and Future Growth Dynamics
- Protein Industry
- Plant Protein Consumption Per Capita
- Plant Protein Consumption
Plant Protein Market Share by Functional Segment
- Ready To Mix
- Ready To Eat
- Ready To Drink
- Ready To Cook
Plant Protein Market Share by Product Categories
- Nutrition Supplements
- Protein Bars
- Sports Nutrition
- Meal Alternative
- Dairy Alternatives
- Meat Alternatives
- Bakery Products
- Infant Formulas
- Other Product Categories
Plant Protein Market Share by Ingredients
- Soy
- Pea
- Beans & Lentils
- Hemp
- Flaxseed, Pumpkin & Other
- Brown Rice
- Quinoa
- Spirulina & Seaweed
- Nuts
- Other Ingredients
Plant Protein Market Share by Price Point
- Premium Pricing
- Mid Tier Pricing
- Low End Pricing
Plant Protein Market Share Analysis by City
- Tier 1 City
- Tier 2 City
- Tier 3 City
Plant Protein Consumption Market Share by Age
- Baby
- Kids & Teens
- Young Adults & Mid Age
- Old Age
Plant Protein Market Share by Demographics
- Income
- Gender
Plant Protein Market Share by Sales Channel
- Online
- Offline
Plant Protein Market Share by Retail Outlet
- Diversified Stores
- Pharmaceutical & Wellness Stores
- Healthcare and Fitness Centers
- Specialist Sports Stores
Reasons to Buy
- In-depth understanding of plant protein market dynamics: Understand market opportunity, industry dynamics, key trends, and drivers across different market segments and sub-segments of the industry in Thailand.
- Develop market-specific strategies: Identify growth segments and target specific opportunities to formulate your investment strategy; assess market-specific key trends, drivers, and risks in the industry.
- Get market share analysis by segments in Thailand: Get a detailed analysis across different segments protein consumption, functional segment, product categories, ingredients, price point, city, age, demographics, sales channel, and, retail outlet.
Table of Contents
1 About this Report
2 Thailand Protein Consumption Market Size and Future Growth Dynamics
3 Thailand Plant Protein Market Size and Forecast by Functional Segment, 2020-2029
4 Thailand Plant Protein Market Size and Forecast by Product Categories, 2020-2029
5 Thailand Plant Protein Market Size and Forecast by Ingredients, 2020-2029
6 Thailand Plant Protein Market Size and Forecast by Price Point, 2020-2029
7 Thailand Plant Protein Market Analysis by City, 2020-2029
8 Thailand Plant Protein Consumption Market Size and Forecast by Age, 2020-2029
9 Thailand Plant Protein Consumption Market Share Demographics, 2024
10 Thailand Plant Protein Distribution Market Size and Forecast by Sales Channel, 2020-2029
11 Thailand Plant Protein Distribution Market Size and Forecast by Retail Outlet, 2020-2029
12 Further Reading
List of Tables
List of Figures
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 50 |
| Published | April 2025 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value ( USD | $ 80.7 Million |
| Forecasted Market Value ( USD | $ 161.2 Million |
| Compound Annual Growth Rate | 18.9% |
| Regions Covered | Thailand |
