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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.
Thailand aims for 5% growth in future food exports ảnh 1Thailand aims for 5% growth in future food exports. (Photo: kitchenherald.com)

Bangkok (VNA) – Thailand is targeting future food export growthof 2-5% this year, driven by the global economic recovery and sustainabilitytrends.

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

In 2023, the country's value of future food exports amounted to 143billion THB, up 1% from 2022, accounting for 9% of all food exports.

Visit Limlurcha, President of the Thai FutureFood Trade Association, said the higher value was fuelled byeconomic recovery, which increased consumer confidence, and increased awarenessof health concerns among consumers in both domestic and international marketsfollowing the COVID-19 pandemic.

The most popular segment of future food wasfunctional food and functional ingredients, valued at 128 billion THB (3.46billion USD), 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 medicaland 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% andaccounting for 1.4% of all future food exports. Key markets for future foodincluded Southeast Asia with 43%, followed by the US with 14%, the EU, UK with 11%, andChina with 10.3%.

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

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