Thailand Catering Market is Expected to Reach Around USD 4.8 Billion by 2022: Ken Research

Thailand Catering Market by type (5 Star Hotels, 4 star Hotels, 3 Star Hotels, Wedding Halls, In-flight, Education, Healthcare and Others), Company Profile of Major Pure Play Caterers in Thailand Catering Market (I do Catering, Epicure, Gourmet Catering, White Café Catering, Mongkol Catering and others), Major Hotels (Intercontinental, Pullman, Lebua, Milennium Hilton, Marriott, So Sofitel others), Major Wedding Halls (Impact Wedding Hall, Vivace Wedding Hall and others)

• Growing hospitality sector of the country will provide major boost to the catering industry with multiple hotel projects in the pipeline
• With growing number of tourist arrivals, the in-flight catering sector will receive major boost over the coming years

The continuously increasing investments in the hotel industry are expected to generate more revenues for the caterers, owing to the expansion of event spaces within the premises for hosting wedding ceremonies and corporate functions. During 2018, Thailand will be hosting some significant food and beverages events including World of Food Service Expo, Chiang Mai Flower Festival, Phuket Boat Show, Phuket RendezVous (PRV), Thailand Bakery and Ice Cream Fair (Bakery and Ice Cream Show), Dairy Focus Asia, and Thailand Retail Food & Hospitality Services (TRAFS). Such events are anticipated to raise the demand for caterers in the space, having a positive impact on the overall catering market in Thailand during the outlook period. As per the analysis of the tourism industry, Thailand is expected to witness over 40 million international visitors by 2020, thus resulting in the expansion of in-flight and hospitality catering companies.

Analysts at Ken Research in their latest publication “Thailand Catering Market by Type (5 Star Hotels, 4 Star Hotels, 3 Star Hotels, Wedding Halls, Inflight, Education, Healthcare, and Others) Outlook to 2022” mentioned that Thailand catering market is at mid-growth stage and has grown at a robust CAGR of over 12% in last 5 years. Catering market in Thailand has surged owing to the growing numbers of international visitors, domestic travelers, wedding ceremonies in the country and the inclining numbers of meetings, incentives, conferences and exhibitions (MICE) events being hosted in various event halls across various regions.

It is recommended for hospitality caterers to rely on food service importers because they specialize in providing high quality U.S. products. Entrants can import French fries, beef, salmon, lamb, sauces and seasonings, cheese, fresh fruits & vegetables, seafood, turkey, and a variety of beverages from the U.S. through a channel of distributing agents. Importing US products can be beneficial as most of the established players in the market earn greater profits due to lower cost of production by using imported raw materials.

Thailand catering market is expected to register positive CAGR of around 20% during the period 2017-2022. Growing MICE industry, rising number of weddings and inclining tourist arrivals will have positive impact on the market.
 
For more information on the research report, refer to below link:
https://www.kenresearch.com/food-beverage-and-tobacco/food-services/thailand-catering-market/142999-11.html

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