1、THAILAND INDUSTRY OUTLOOK 2021-23READY-TO-EAT FOODAugust 2021Wanna Y+662 296 47551Krungsri ResearchOver the three years from 2021 to 2023,the value of the domestic market for ready-to-eat food will gradually rise.In the coming period,many consumers will need to exercise greater care over their spend

2、ing,and because instant noodles are a low-cost product,somewhat unfavorable economic conditions will feed into low levels of growth.Sales of chilled and frozen ready-to-eat food will also be helped by the continuing and rapid expansion in the number of modern retail outlets,which with over 90%of the

3、 market are these products principal distribution channel.In addition,increasing rates of urbanization are also precipitating changes in consumer behavior that favor greater speed and convenience in food preparation and consumption.Exports(15-20%of the market)are also forecast to see solid rates of

4、growth.As vaccination programs make greater progress and,exports of instant noodles will benefit from the steady relaxation of checks and controls on cross-border trade and travel and the reopening of border checkpoints.The market for chilled and frozen ready-to-eat foods will expand aligned with tr

5、ading partners economic growth.Beyond this,consumers in world markets are increasingly accepting of Thai food with regard to both its safety and its taste,and because consumer perceptions are favorable and in accord with deepening concerns over personal health and wellness,this too will help to lift

6、 export sales.OverviewReady-to-eat food is food that has been processed in such away that it is both preserved or had its shelf life extended andhas been put into a state that makes it easy to consume.Ready-to-eat food can be split into two main categories,according tothe processing and preserving t