Thailand aims for 5% growth in future food exports

Thailand is targeting future food export growth of 2-5% this year, driven by the global economic recovery and sustainability trends.

Future food refers to innovative food products that are safe to eat, traceable and environmentally friendly, responding to emerging trends concerning good health and well-being.

In 2023, the country's value of future food exports amounted to THB143 billion ($3.89 billion), up 1% from 2022, accounting for 9% of all food exports.

Visit Limlurcha, president of the Thai Future Food Trade Association, said the higher value was fuelled by economic recovery, which increased consumer confidence, and increased awareness of health concerns among consumers in both domestic and international markets following the Covid-19 pandemic.

The most popular segment of future food was functional food and functional ingredients, valued at THB128 billion ($3.46 billion), up 1%, accounting for 89.5% of all future food exports.

Next was alternative protein with a value of 6.5 billion THB, up 1% and accounting for 4.6% of all future food exports, followed by medical and personalised food, valued at 6.3 billion THB, up 4% and accounting for 4.5% of all future food exports.

Organic food was valued at 1.96 billion THB, down 13% and accounting for 1.4% of all future food exports. Key markets for future food included Southeast Asia with 43%, followed by the US with 14%, the EU, UK with 11%, and China with 10.3%.

Food trends in 2024 which provide a promising opportunity for Thailand's future food exports include hyper-local sourcing, sustainability, healthy ageing, microbiome-friendly foods, alternative food sources, innovative AI food technologies, sustainable packaging, and value-added products produced from food waste. These trends are in line with future consumer trends which focus on health and sustainability.