Market Insights Consumer Alcoholic Drinks

Spirits - Thailand

Thailand

Revenue, at home (e.g., revenue generated in supermarkets and convenience stores) in the Spirits market amounts to US$11,100.0m in 2024.
Revenue, out-of-home (e.g., revenue generated in restaurants and bars) amounts to US$2,314.0m in 2024.
Revenue, combined amounts to US$13,410.0m in 2024.
The revenue, at home is expected to grow annually by 3.16% (CAGR 2024-2028).
In global comparison, most revenue, at home is generated in China (US$150,400m in 2024).
In relation to total population figures, the average revenue per capita, at home of US$154.40 are generated in 2024.
In the Spirits market, volume, at home is expected to amount to 481.4m L by 2024.
Volume, out-of-home is expected to amount to 87.6m L in 2024.
Volume, combined is expected to amount to 569.0m L in 2024.
The Spirits market is expected to show a volume growth, at home of 1.1% in 2025.
The average volume per person, at home in the Spirits market is expected to amount to 6.70L in 2024.

Key regions: Australia, Singapore, India, Worldwide, United States

Definition:

The Spirits market includes alcoholic beverages that have been produced through the distillation of wine, fermented fruits, or grains. Due to the distillation process, the alcohol content of spirits is much higher than that of most wines and beers, typically ranging from 20% to 50% alcohol by volume (ABV).

Structure:

The Spirits market is divided into 8 markets:

The Whisky market encompasses spirits on a grain basis that have been aged in wooden casks for a duration of at least three years.
The Vodka market encompasses spirits based on grain and/or potatoes.
The Rum market encompasses spirits based on sugar cane.
The Gin market encompasses spirits based on juniper berries.
The Brandy market encompasses spirits based on fermented fruit juice.
The Tequila market encompasses spirits made primarily from the blue agave plant (Agave tequilana) in Mexico.
The Soju market encompasses the Korean distilled beverage, Soju, which is traditionally made from rice, barley, or sweet potatoes.
The Liqueurs & Other Spirits market encompasses all other spirits not previously mentioned as well as Ready-to-Drink (RTD) cocktails.

Additional information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per liter, as well as sales channels. Per capita figures refer to a country’s or region’s whole population.

At-home market data covers retail sales via super- and hypermarkets, eCommerce, convenience stores, and similar sales channels. Out-of-home market data includes all sales in hotels and restaurants, sales by catering companies, as well as sales in cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. All prices are valued at retail selling prices, including all sales and consumption taxes.

Key players include Diageo (e.g., Johnnie Walker, Smirnoff, and Tanqueray), Pernod Ricard, and Kweichow Moutai.

Market

Region

Region comparison

Currency

Analyst Opinion

The Spirits market in Thailand has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Thai consumers have shown a growing interest in premium and craft spirits, as they seek higher quality and more unique products. This shift in consumer preferences can be attributed to a combination of factors, including increased disposable income, exposure to international trends, and a desire for more sophisticated drinking experiences. As a result, there has been a rise in the demand for premium spirits such as single malt whisky, craft gin, and artisanal rum.

Trends in the market: One of the notable trends in the Thai Spirits market is the increasing popularity of locally produced spirits. Thai consumers are increasingly embracing their own traditional spirits, such as Mekhong, SangSom, and Yaa Dong. These spirits have gained a strong following due to their distinct flavors and cultural significance. Additionally, Thai consumers are showing a growing interest in exploring other Asian spirits, such as Japanese sake and Korean soju. Another trend in the market is the rise of cocktail culture in Thailand. As more consumers seek unique and experiential drinking experiences, cocktail bars and mixology have become increasingly popular. This trend has led to a growing demand for spirits that are versatile and can be used in a wide range of cocktails. As a result, spirits like vodka, gin, and rum have seen increased sales in the Thai market.

Local special circumstances: Thailand's thriving tourism industry has played a significant role in the growth of the Spirits market. The country attracts millions of international tourists each year, many of whom are interested in exploring the local food and beverage scene. This has created a demand for a wide variety of spirits, including both local and international brands. Additionally, the presence of a large expatriate community in Thailand has also contributed to the growth of the Spirits market, as they bring their own preferences and consumption habits to the country.

Underlying macroeconomic factors: Thailand's strong economic growth and rising disposable income levels have also played a role in the development of the Spirits market. As the middle class expands and more people have discretionary income, they are able to afford higher quality spirits and indulge in premium drinking experiences. This has led to an increase in the consumption of spirits and a shift towards more premium offerings. In conclusion, the Spirits market in Thailand is experiencing growth due to changing customer preferences, including a growing interest in premium and craft spirits, as well as the rise of cocktail culture. Local special circumstances, such as the popularity of locally produced spirits and the influence of tourism and expatriate communities, have also contributed to this growth. Additionally, Thailand's strong economic growth and rising disposable income levels have created a favorable environment for the Spirits market to thrive.

Methodology

Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.

Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.

Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.