Market Research: FMCG Powder Protein Market in Thailand
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background & purpose
According to Euromonitor International’s 2020 report, healthy living has become a top priority for today’s consumers. As the emerging trend of active and healthy living has become widespread, consumers are becoming more health-conscious and exploring fitness pursuits. We observe a growing segment of the Thai population expressing an interest for products that offer nutritional value and convenience, contributing to the heightened demand for powder protein. In 2023, sports protein products emerged as the top-performing category, witnessing a 12% increase in retail value sales to reach THB 717 million. This presents a significant opportunity for businesses to cater to the increasing consumer demand for health-focused products, particularly in the protein powder and sports nutrition segments.
To understand the powder protein market in Thailand, GLOBAL ANGLE conducted a comprehensive research on competitors, products, distributions, and retails, elaborating with the local fitness environment/trends.
project scope & action
Conduct desk research on the competitor brands, products, the industry trend, and distribution in Thailand.
Conduct desk research on people’s fitness habits and trends as well as some consumer interviews to understand the target audience.
Conduct interviews to manufacturers, retailers, and distributors in order to understand major brands’ distirbution / marketing strategies.
Analyse the results of the interviews to propose the target consumers and market entry strategies.
DELIVERABLES
- Exercise habits analysis
- User Profile
- Market Share by product type
- Product comparison
