FOOD SUPPLEMENTS THAILAND
The pharmaceutical market in Thailand has value of more than $4.5 billion. Already the second largest in Southeast Asia (behind Indonesia), the Thai drug market is projected to double by 2020. The branded generic sector is growing very quickly. The number of Thai domestic drug companies has been increasing quickly over the past decade since the introduction of the Universal Coverage Scheme. The government is now funding more R&D, encouraging the local drug industry to move up the value chain. Pharmaceutical exports are valued at over $300 million and are primarily shipped to other Southeast Asian nations like Vietnam, Cambodia and Myanmar. Biotechnology is also promoted by the government, with the recent introduction of biotech parks and big tax incentives.
Thailand’s vitamin and dietary supplements market has high potential due to strong demand, but is highly competitive with abundant local and foreign brands already dominating the marketplace. Thais are among the top consumers of vitamins and dietary supplements in the world. In 2013, the sales value of dietary supplements in Thailand was estimated at $833 million, with a projected annual growth rate of 10-15 percent over the next five years, reaching $1.7 billion in 2018.
Export Food Supplements Thailand
According to above fact and figures, Thai Food supplements market is nearly saturated. Many Thai companies are evaluating to export, but they need to find a real and sound counterpart overseas.
In this environment Kha Bangkok can represent a big resource for your business. We can find you the best supplier according to your needs and expectation, taking care of all local bureaucratic step before export procedures. Kha Bangkok is your gateway to food supplements Thailand!