Australian retailer Coles eyes Thailand’s health food and drinks market
Coles recently signed an agreement with Central Food Retail.
Australian retail company Coles is eyeing Thailand’s health food and drinks market as it enters into an agreement with Central Food Retail, GlobalData reported.
The agreement covers the sale of 200 “Coles Own Brand” products in Thailand. It
“As one of the largest food and beverage markets in Asia, Thailand is attracting interest from consumer packaged goods companies across the globe,” Bobby Verghese, Consumer Analyst at GlobalData, said.
“Rapid urbanization, the rise of the upper and upper-middle classes, and the growing health & wellness trend have catalyzed the demand for high-quality, healthy, clean-label, and sustainable food and beverages imported from North America, Europe, Japan, and South Korea.”
Verghese noted that 30% of Thai respondents said they typically bought bakery, cereals, and morning goods made by foreign/global multinational brands, citing GlobalData’s Q4 2022 consumer survey.
The Thai food and drinks market is projected to grow by 5.7% compound annual growth rate over 2023-2027.