Thailand instant coffee market is projected to grow at a CAGR of 6.29% to reach a value of US$1,954.510 million by 2025, from US$1,355.712 million in 2019.
Thailand is showing a noteworthy potential as the demand for instant coffee and specialty cafes are growing in number owing to the rising popularity and trend among the younger individuals and adolescent age groups
As Thailand is not considered among the coffee-producing countries, the consumption of coffee among individuals of different age groups is still prevalent in the county. In conjunction, specialty cafes are expanding and accelerating their growth at a decent rate in order to capture the attention of the younger consumers whose tastes and preferences are changing towards select roasts and other flavors. Instant coffee, however, is getting more popular among the individuals, as it can be easily prepared at home and is easier to make than the other methods. There are organizations and associations in Thailand such as the Specialty Coffee Association of Thailand (SCATH), which are also promoting the increase in the production of green beans in the country to meet the slowly rising demand for instant coffee and other types of coffee. Thus, this is acting as a driving factor and is bolstering the market growth over the forecast period.
The popularity of tea as an alternative hot beverage is hampering the potential of the instant coffee market growth.
The consumption of tea among the older and middle-aged consumes in Thailand stems from the fact that tea is considered to alleviate the body and the mind, and it is given high importance in Buddhism, which is practiced by a majority of the individuals in this country, thereby this factor is acting as an obstacle in the market growth.
Product Offerings by the market players in the Thailand Instant Coffee Market
The offering of better and advanced varieties of Instant coffee with enhanced flavor and aromas among others by existing and new players in different markets is estimated to lead to a rise in the consumption and augment the market growth further over the forecast period.
Some of the product offerings have been mentioned below-