Exploring Thailand’s Culinary Tourism Industry: Forecasted to Reach USD 179.4 Billion by 2034 with a 12.4% CAGR – Unveiling Market Dynamics and Recent Industry Developments

Thailand Culinary Tourism Industry
Thailand Culinary Tourism Industry

In 2024, the culinary tourism industry in Thailand is estimated to be valued at USD 32.5 billion. By 2034, the industry is forecasted to reach USD 179.4 billion, with a projected Compound Annual Growth Rate (CAGR) of 12.4%.

Thailand culinary tourism is synonymous to variety. The place is heaven to a wide variety of food lovers, be it vegans, or those who want to try out the sumptuous sea food. Apart from that, the Thai tradition that is adopted for the preparation such delicious food is something that sets it apart from the rest of the world, and tourists love to know everything about the food starting from Thai cuisine basics

One of the most important factors which is driving the Thailand culinary tourism market is the rise in the disposable income across the globe. People are earning more today as compared to what they were five years back. Because of this they can afford to spend to experience the rich Thai cuisine.

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The airline operators have been observing the trend of surge in the Thailand tourism market. Because of this, the number of flights for Thailand have significantly increased over the years. A large chunk of visitors who visit Thailand are gourmands. This is expected to significantly surge the demand for Thailand culinary tourism.

Moreover, there are a number of food chains which are on a spree to expand their market in Thailand. This is because of the growing fane base of Thailand culinary tourism market.

The Thailand culinary tourism market is expected to grow due to the presence of many traditional grocery stores. In addition, various flavours of spices, curries and Thai cuisine are always looked up to by many tourists.

The Thailand government has decided to give mark of certification to local and big restaurants too who serve authentic Thai cuisine. This would ensure that utmost care is taken while preparing any kind of cuisine, which would increase footfall in the restaurants.

Moreover, if we look at the macroeconomic point of view, the value of Thai Baht is quite low as compared to a lot of other currencies. This makes visiting and enjoying the Thai culinary much more affordable.

Key Takeaways:

  • The expected CAGR for the Thailand culinary tourism market is 12.4%.
  • The valuation of Thailand culinary tourism market as on 2024 is USD 32.5 billion.
  • The expected valuation of Thailand culinary tourism in 2034 is USD 179.4 billion.
  • Food festivals have always been the most preferred activity tourists want to do
  • Online booking is the most used booking channel in Thailand Culinary Tourism
  • Package traveler is the most tour type in Thailand Culinary Tourism market
  • Men have the highest market share based on the consumer orientation.
  • Domestic tourists have the highest market share in the Thailand culinary tourism market.
  • The age group of 26-35 has the highest market share in the Thailand culinary tourism market.

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Competitive Landscape

Increasingly popular among international visitors who are also confronting street food are culinary excursions, which are growing increasingly receptive to spicy cuisine. The key players carefully plan our trips to include culinary outlets with a focus on quality and sanitation to offer a safe experience for international visitors. These tour possibilities are increasingly being investigated by both domestic and international travelers.

  • The panorama destination Thailand had shifted its office back to its original base in Jakarta in January 2020. This was a major step towards increasing team productivity, work time effectiveness and increase synergy with other business units in Panorama Group.
  • In 2020, Expique’s “Bangkok by night: Temples, Markets, and food by tuk tuk” was recognized as No.1 experience in Thailand in 2020 Travelers’ choice awards.

Key Companies Profiled

  • Bangkok Food Tours
  • A Chef’s Tour (Bangkok)
  • I Asia Thailand
  • Chiang Mai Street Food Tours
  • Withlocals
  • Chiang Mai Foodie Tours
  • Food Adventure Food Tours in Bangkok
  • TakeMeTour
  • Bangkok Food Tours
  • Panorama Destination Thailand
  • Expique – Bangkok Tours and Experiences
  • Feast Thailand
  • Secret Food Tours Bangkok
  • ForeverVacation Bangkok
  • Bangkok Urban Adventures
  • Magical Trip Bangkok

The Thailand Culinary Tourism Market Segmentation

By Activity Type:

  • Culinary Trials
  • Cooking Classes,
  • Restaurants
  • Food Festivals
  • Others

By Booking Channel:

  • Phone Booking
  • Online Booking
  • In Person Booking

By Tourist Type:

  • Domestic
  • International

By Tour Type:

  • Independent Traveller
  • Package Traveller
  • Tour Group

By Consumer Orientation:

  • Men
  • Women

By Age Group:

  • 15-25 Years
  • 26-35 Years
  • 36-45 Years
  • 46-55 Years
  • 66-75 Years

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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