Report: 2022 Thailand FMCG Forecast
Will uncertainty threaten Thailand’s FMCG growth in 2022?
Thai consumers were living in the ‘new normal’ in 2021, and take-home FMCG spend hit its highest level of growth in seven years, significantly outperforming the country’s annual GDP which showed a small decline.
In this report, Kantar looks at how the evolution of the pandemic has influenced consumer trends – for instance, driving up the use of digital media and social media – and how these have helped to shape the FMCG market.
FMCG manufacturers in Thailand have successfully ‘pandemic-proofed’ their businesses by finding new and better ways to implement digital marketing, reaching potential customers and converting them by facilitating purchases with just a few clicks. As in the rest of the Asia region, ecommerce was the fastest-growing of all FMCG channels.
Looking ahead, Kantar explores the impact that increased access to vaccines and further opening up of retail, hospitality and tourism will have on Thailand’s revival, and the future of FMCG. Other macro-economic factors will also influence how consumers spend, and how businesses perform – such as food inflation, high fuel costs, uncertainty over government subsidy programmes and the Omicron variant of COVID-19.
So what is the likely outlook for FMCG in Thailand this year? Leveraging Kantar Worldpanel’s rich datasets, our teams have tested and modelled potential scenarios in order to forecast how sales will change. To read about their findings and what they expect to see during 2022, download the report.