Snapshot img

Thailand Retail Market Size 2025-2029

The Thailand retail market size is forecast to increase by USD 49.69 billion at a CAGR of 6.9% between 2024 and 2029.

The Retail Market in Thailand is segmented by product (grocery, apparel and footwear, BPC, home and garden, others), distribution channel (offline, online), pricing scheme (cash, digital payment, buy now pay later), and geography (APAC: Thailand). This segmentation reflects the market's growth, driven by increasing demand for grocery and BPC products, a shift toward online channels, and the rising adoption of digital payment and buy now pay later schemes in Thailand.
The market is experiencing significant growth, driven primarily by the increasing demand for convenience food products. This trend is influenced by the busy lifestyles and hectic schedules of consumers, who seek quick and easy meal solutions. Additionally, the surge in sales through online distribution channels is further fueling market expansion. However, this market landscape is not without challenges. The proliferation of counterfeit products poses a significant threat to both consumers and legitimate retailers. These counterfeit goods not only undermine brand reputation but also compromise consumer safety.
Retailers must navigate this issue by implementing robust anti-counterfeit measures and collaborating with authorities to protect their brands and maintain consumer trust. To capitalize on market opportunities and effectively manage challenges, retailers must stay agile and responsive, focusing on innovation, quality, and customer experience.

What will be the size of the Thailand Retail Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free Sample

In the dynamic Thai retail market, personalized recommendations and retail marketing automation are driving customer engagement, with digital wallets and mobile payments simplifying transactions. Inventory optimization and supply chain optimization ensure stock availability, while sustainable packaging and the circular economy align with eco-conscious consumers' preferences. Social commerce and location-based marketing expand reach, and retail analytics software provides valuable insights. Mobile POS, multi-channel marketing, and customer journey optimization enhance the shopping experience.
Data privacy and e-commerce security are essential considerations, with price optimization ensuring competitiveness. Voice assistants, big data analytics, virtual try-on, and customer service automation further enhance the retail landscape. Cloud-based retail solutions and smart shopping enable seamless operations, and live shopping offers real-time interaction, revolutionizing retail trends.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Grocery
  Apparel and footwear
  BPC
  Home and garden
  Others


Distribution Channel

  Offline
  Online


Pricing Scheme

  Cash
  Digital payment
  Buy now pay later


Geography

  APAC

    Thailand

By Product Insights

The grocery segment is estimated to witness significant growth during the forecast period.

In Thailand's dynamic retail market, various sectors experience significant growth. The grocery segment, a major contributor to sales, witnesses robust expansion due to increasing consumer numbers and the entry of both domestic and international retailers. Convenience stores, in particular, thrive due to the rising preference for purchasing daily grocery requirements from nearby shops. Hypermarkets, supermarkets, and other retail outlets also expand rapidly, catering to consumers seeking a wide range of household groceries under one roof. Digital signage and retail technology enhance the shopping experience, while ethical sourcing and retail compliance ensure transparency and sustainability. Retail automation, machine learning, and predictive analytics streamline retail operations and sales forecasting.

Customer journey mapping and segmentation, along with personalized customer experiences, boost customer engagement. Retail disruption comes from disruptive technologies like mobile apps, virtual reality, augmented reality, and e-commerce platforms. Omnichannel retailing, logistics and distribution, and digital marketing services create seamless shopping experiences. Inventory management software, online payment gateways, and employee scheduling tools optimize retail operations. Retail security, loss prevention, and fraud detection ensure business continuity and customer trust. Staff training, in-store technology, and rfid technology improve operational efficiency. Smart sh

The Thailand Retail Market Report is Segmented by Product Type (Food, Beverage, and Tobacco Products; Personal Care and Household Care; Apparel, Footwear, and Many More), Retail Channel (Traditional Mom and Pop Retail, Modern Trade Retail, E-Commerce and Others), Format (Hypermarkets, Supermarkets, Convenience Stores, Department Stores, Specialty Stores, Others). The Market Forecasts are Provided in Terms of Value (USD).

In 2024, Thailand's modern trade grew by**** percent. Modern retail businesses in Thailand include department stores, discount stores, supermarkets, and convenience stores.

The Thai retail market, valued at approximately [Estimate based on provided CAGR and market size. For example: 150 Billion USD in 2025], exhibits robust growth, exceeding a 5.5% CAGR (2025-2033). This expansion is fueled by several key drivers: a rising middle class with increased disposable income, escalating e-commerce adoption mirroring global trends, and a burgeoning tourism sector contributing significantly to consumer spending. The market is segmented across diverse product categories, with Food and Beverage, Personal & Household Care, and Apparel consistently strong performers. Distribution channels are similarly diversified, encompassing supermarkets, specialty stores, and a rapidly growing online segment, reflecting shifting consumer preferences towards convenience and digital engagement. Key players like CP ALL PCL (7-Eleven), The Mall Group, Tesco Lotus, and Central Group (Big C, Robinson, FamilyMart) dominate the landscape, while international giants like Unilever and Procter & Gamble maintain significant market share. However, increasing competition from both established players and emerging e-commerce platforms presents ongoing challenges. Government regulations impacting trade and consumer protection also pose potential restraints. Future growth hinges on effectively navigating these challenges through strategic investments in digital infrastructure, robust supply chain management, and a keen understanding of evolving consumer demands. The competitive landscape is characterized by both intense rivalry among established players and the emergence of disruptive online retailers. Successful companies are adapting to the changing dynamics by integrating omnichannel strategies, focusing on customer experience, and leveraging data analytics to personalize offerings. The geographical distribution of retail activity is concentrated in urban centers, with Bangkok representing a major hub. However, expansion into secondary and tertiary cities presents significant growth opportunities. The forecast period (2025-2033) anticipates sustained growth, driven by factors including expanding infrastructure, rising urbanization, and sustained economic development. Nevertheless, potential headwinds such as economic volatility and geopolitical factors warrant close monitoring. A thorough understanding of these market dynamics is crucial for informed strategic decision-making within the Thai retail sector. Recent developments include: August 2020 - Tesco Lotus partnered with DHL Supply Chain Thailand. This partnership will see DHL Supply Chain manage Tesco Lotus's warehouse operations in Surat Thani, a 51,500 square meters (sqm) facility that houses its inventory of groceries that cater to consumers in Southern Thailand. The DHL team will handle the inbound and outbound activities, inventory management, and temperature-optimal storage of fresh and frozen food products.. Notable trends are: Growth of the Tourism Industry in Thailand is Driving the Market.

The Thailand Travel Retail Market is Segmented by Product Type (Beauty and Personal Care, Wines and Spirits, Tobacco, Eatables, Fashion Accessories, Hard Luxury, and Other Product Types) and Distribution Channel (Airports, Airlines, Ferries, and Other Distribution Channels). The Report Offers the Market Sizes and Forecasts in Value (USD) for all the Above Segments.

The Thailand Retail Market size was valued at USD 88.53 Billion in 2023 and is projected to reach USD 143.50 Billion by 2031, growing at a CAGR of 6.2% from 2024 to 2031.• Rising Middle-Class Income and Urbanization: The Thailand retail market is being significantly driven by the growing middle class, with disposable income rising steadily. According to the National Economic and Social Development Council (NESDC), Thailand's middle class is expected to account for over 50% of the population by 2025. The demand for retail goods is rising as more people move into cities due to urbanization. The increasing need for convenience is another factor contributing to this change, which is driving up expenditures in retail infrastructure, especially in large cities like Bangkok, which is home to about 10 million people.• E-commerce Boom: Thailand's e-commerce market has experienced explosive growth, spurred by high internet penetration and smartphone usage. The Digital 2023- Thailand reports that internet users in Thailand grew to over 80% of the population by 2023, with online retail sales estimated to surpass THB 100 billion in 2024.

As of March 2023, retail sales grew by almost *** percent in Thailand. In 2022, the retail sales in the country had shown the highest growth in August, reaching around **** percent growth.

Food and beverage retail in Thailand The food and drinks market in Thailand is essential and diverse. It contributes gravely to the economy of the country. In 2021, approximately ** million tons of soy sauce was sold in Thailand, followed by fish sauce, and frozen and chilled meat. As the urban lifestyle became widely adopted by the Thai people, their consumption habits shifted. Leaning towards eating fast and convenient food, packaged foods come in handy. The sales value of packaged food and drinks in Thailand was the highest for dairy products in 2022, followed by rice, pasta, and noodles.

Major retailers in Thailand While the retailer market is shared by several major retailers such as CP All Plc, Central Group, and the Mall Group. In Thailand, CP All Plc is the largest retailer based on sales. In 2022, CP All Plc generated the total sales revenue of around ***** billion Thai baht. As an affiliated corporation of CP All Plc, 7-Eleven convenient stores are also one of the most successful modern retailers in Thailand with nearly ** thousand outlets nationwide.

In Thailand Retail Market is projected to grow from USD 2.3 trillion in 2025 to USD 3.7 trillion by 2031, at a CAGR of 8.2%

Retail Sales in Thailand increased 49.77 percent in September of 2025 over the same month in the previous year. This dataset provides the latest reported value for - Thailand Retail Sales YoY - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Within the foodservice sector in Thailand, the retail business's sales value was forecasted to reach 519.4 million U.S. dollars in 2023. Further, the compound annual growth rate (CAGR) of the foodservice sector in Thailand was expected to reach 2.3 percent from 2020 to 2023.

Key information about Thailand Retail Sales Growth

• Thailand Retail Sales grew 49.8 % YoY in Sep 2025, compared with a 5.2 % decrease in the previous month.
• Thailand Retail Sales Growth YoY data is updated monthly, available from Jan 1996 to Sep 2025, with an average growth rate of 15.8 %.
• The data reached an all-time high of 113.2 % in Nov 1999 and a record low of -61.3 % in Nov 1998.
• In the latest reports, Car Sales of Thailand recorded 47,032.0 units in Oct 2025, representing a growth of 25.0 %.

CEIC calculates monthly Retail Sales: Incl. Motor Vehicles Growth from monthly Retail Sales Index. The Bank of Thailand provides Retail Sales Index with base 2019=100. Retail Sales: Incl. Motor Vehicles Growth prior to January 2001 is calculated from Retail Sales Index with base 1995=100, ISIC Rev. 3.

In the second quarter of 2024, the value of wholesale and retail sales in Thailand amounted to *** billion Thai baht. The year-on-year growth of wholesale and retail sales in Thailand during that period was *** percent.

The size of the Thailand Travel Retail Market market was valued at USD 154.48 Million in 2023 and is projected to reach USD 244.03 Million by 2032, with an expected CAGR of 6.75% during the forecast period. Recent developments include: In October 2023, Foreo broadens its presence in Thailand's travel retail sector with a new outlet at Don Mueang Airport. This expansion, in collaboration with King Power, builds upon Foreo's existing launches at Suvarnabhumi and Phuket airports, along with its presence in King Power Rangnam, King Power Srivaree Complex, and King Power Phuket downtown stores., In November 2023, Thailand's leading oil and retail company plans to expand into Southeast Asia due to the region's economic growth. PTT Oil and Retail Business is investing $900 million to broaden operations beyond Southeast Asia, operating over 2,500 lifestyle outlets in Asia and supplying petrochemical products globally to over 40 countries. Notable trends are: Growth of the Tourism Industry in Thailand is Driving the Market.

Discover the booming Thailand retail market! Our analysis reveals a $198.76B market in 2025, growing at a 6.55% CAGR through 2033. Explore key trends, leading companies (Tesco, Central Group, etc.), and growth opportunities in grocery, apparel, and more. Get the insights you need to succeed.

The Thailand pharmacy retail market was valued at USD 5.90 Billion in 2024 and is expected to grow at a CAGR of 4.90%, reaching USD 9.52 Billion by 2034. The market growth is driven by the rising chronic disease burden and expanding universal healthcare access across the region.

Key Market Trends and Insights

• Offline pharmacies continue to dominate due to strong consumer trust, immediate access, and pharmacist-led guidance at point of sale.
• Over-the-counter (OTC) products is expected to witness significant growth in the forecast period.
• Online pharmacies are expected to witness fastest growth during the forecast period.

Market Size and Forecast

• Market Size (2024): USD 5.90 Billion
• Projected Market Size (2034): USD 9.52 Billion
• CAGR (2025-2034): 4.90%

Source: TraceData Research Analysis Future Outlook and Projections for Thailand Pharmacy Retail Industry on the Basis of Revenues in USD Million, 2024-2029 The Thailand pharmacy retail market is projected to grow steadily by 2029, exhibiting a respectable CAGR during the forecast period. This growth is expected to be fueled by economic factors, increasing health awareness, and rising consumer confidence in the pharmacy retail market.

In 2022, the e-commerce sales value generated from the wholesale and retail industry in Thailand amounted to approximately *** trillion Thai baht and was forecast to steadily increase in the following year. The e-commerce market value in Thailand was also forecast to value at almost one trillion Thai baht in 2024.

Thailand Pharmacy Retail Market size is expected to exhibit a growth rate (CAGR) of around 3.2% during the forecast period 2024-2030, the rising consumer demand for telemedicine companies to offer home delivery services is the growth opportunity driving the Pharmacy Retail Market in Thailand.

Discover the booming Thailand travel retail market! This in-depth analysis reveals a $154.48 million market in 2025, projected to grow at a 6.75% CAGR until 2033. Explore key drivers, trends, restraints, and leading companies shaping this dynamic sector. Recent developments include: In October 2023, Foreo broadens its presence in Thailand's travel retail sector with a new outlet at Don Mueang Airport. This expansion, in collaboration with King Power, builds upon Foreo's existing launches at Suvarnabhumi and Phuket airports, along with its presence in King Power Rangnam, King Power Srivaree Complex, and King Power Phuket downtown stores., In November 2023, Thailand's leading oil and retail company plans to expand into Southeast Asia due to the region's economic growth. PTT Oil and Retail Business is investing $900 million to broaden operations beyond Southeast Asia, operating over 2,500 lifestyle outlets in Asia and supplying petrochemical products globally to over 40 countries. Notable trends are: Growth of the Tourism Industry in Thailand is Driving the Market.

The Thai retail market recorded a CAGR of 3.2% over the past five years despite economy slowdown and political instability. It is expected to grow at a CAGR of 3.7% in 2015-2020 driven by increasing consumer spending, rising tourism, and a growing middle-income population. In addition, the Thai government has included boosting consumer spending among its main economic policies will support the growth retail market in the country. On the other hand, growing internet and smartphone penetration coupled with high interests among the youngsters to shop online is expected to fuel the retail sales through online channel. Rising international tourist arrivals will ensure a good platform for duty free operators. To capitalize on this opportunity duty free retailers are opening downtown duty free stores across popular tourist destinations such as Bangkok and Phuket. Read More