Hyderabad, Andhra Pradesh -- (SBWIRE) -- 09/12/2012 -- Reportreserve’s announces the inclusion of a new report published by Canadean's extensive market and company research covering the Thai foodservice industry. It provides detailed analysis of both historic and forecast foodservice industry values at channel level, analysis of the leading companies in the industry, and Thailand's business environment and landscape.
What is the current market landscape and what is changing?
The Thai GDP grew at a CAGR of 11.1% between 2005 and 2010. However, in 2009 the GDP growth declined to 2.3% from 2008. In 2010, the GDP recovered and grew by 7.8% from 2009.
What are the key drivers behind recent market changes?
In 2011, the service sector contributed 42.5% to the GDP making it the most important sector in the economy. Retail, wholesale and finance remained the major contributors for the year within the service sector.
What makes this report unique and essential to read?
“Thai Foodservice: The Future of Foodservice in Thailand to 2016” provides a top-level overview and detailed market, channel, and company-specific insights into the operating environment for foodservice companies. It is an essential tool for companies active across the Thai foodservice value chain, and for new companies considering entering the market.
Key Features and Benefits
This report provides readers with unparalleled levels of detail and insight into the development of the foodservice sector within Thailand.
This report provides readers with in depth data on the valuation and development of both the profit and cost sectors in the Thailand's foodservice market.
This report provides details on the number of outlets, transactions, average price, foodservice sales, sales per outlet, and transactions per outlet per week across nearly 50 sub-channels.
This report provides highly granular future forecasts and historic market data to aid market and strategic planning.
This report will help you to assess the impact of economic recession and recovery on foodservice market growth.
Key Market Issues
Thailand witnessed a 40.9% decline in foreign direct investment in 2009 due to the recession. There was an increase of 16.8% in 2010, however, the level of investment has not yet reached pre-recession level.
The foodservice sector is largely unorganized, chained restaurants and coffee shops are still a new concept in the country. Traditional dining restaurants are popular across the nation whereas the chained restaurants are confined to big cities such as Bangkok.
Despite of being a growing economy, the country does not have a sustained growth and is affected significantly by recession and other global economic uncertainties. Foodservice sales were hit by the recession in 2009, when GDP growth rate declined to -2.3%.
The Thai government introduced the Alcoholic Beverage Control Act in 2008, which increased the drinking age from 18 to 20, and imposed a restriction on the sale of alcohol to people less than 20 years of age. The act also banned the sale of alcohol at or near places of worship, infirmaries and pharmacies, public offices, educational institutes, petrol stations and shops at petrol stations, and public parks. Sales are banned between 2 and 5pm, and 12 and 11am . The ban also extends to religious holidays and election days. Moreover, the government has shortened bar opening timings to 1:00am instead of the earlier 4:00am.
The population of Thailand is aging fast and the addition to workforce is slow as the birth rate too is low. This has created shortage of labor.
In 2011, tourism's contribution to GDP was 16.3%, compared to 14.6% in 2010. Thailand is a preferred global holiday destination, and receives a large number of tourists every year. The sea beaches, adventure sports, temples, and the rich culture of the country attract many tourists, which consequently contributes to the growth in foodservice sales.
The unemployment rate decreased steadily from 8.4% in 2009 to 7.5% in 2011. This has led to an increase in disposable income, which has encouraged spending on foodservices; as a result, foodservice sales have increased considerably over the review period.
The Thai GDP grew at a CAGR of 11.1% between 2005 and 2010. However, in 2009 the GDP growth declined to -2.3% over 2008. In 2010, the GDP recovered and grew by 7.8% over 2009. Overall, the economy continued to grow at a steady pace.
In 2009, the unemployment rate was 1.5% which further decreased to 0.7% in 2011. The steadily declining unemployment rate has contributed to the growing purchasing power of the people. The working women population in the country has also increased considerably over the review period, which has led to the growth in their frequency of eating out.
In 2011, the service sector contributed 42.5% to the GDP making it the most important sector in the economy. Retail, wholesale, and finance remained the major contributors for the year within the service sector. The foodservice sector was supported by the wholesale and retail sectors as they supply the raw material for restaurants and other catering services.
For further information please visit : http://www.reportreserve.com/Thai-Foodservice-The-Future-of-Foodservice-in-Thailand-to-2016-report-559185
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