Thailand seasonings, dressings & sauces market is projected to grow from Bt 50.6 billion (US$1.6 billion) in 2021 to Bt 58.5 billion (US$2 billion) by 2026 at a CAGR of 3% over the 5-year period 2021-2026, according to a latest report by GlobalData.
According to the report, market growth will be primarily driven by the tomato pastes and purees category, which is forecast to register the fastest growth at 3.7% CAGR over the 5-year period. This is followed by dips (3.2%).
Meanwhile, per capita expenditure on seasonings, dressings & sauces increased from US$9.1 in 2016 to US$11.4 in 2021, and is further projected to reach US$13.5 by 2026, well above the regional average of US$9.1, and close to the global average of $13.8.
Ajinomoto Group, Unilever and Nguan Soon Co Ltd were the top 3 companies in the Thai seasonings, dressings & sauces sector by value in 2020, and Ajinomoto and Ros Dee Menu were the leading brands.
Thai consumers are also looking for healthier seasonings, dressings & sauces to elevate their meal and snack occasions.
