roasted chicken

Thai Chicken Exports Thrive in 2023 as Demand Surges Post-Economic Recovery, Boosted by China’s Market Opening

According to the analysis by SCB EIC, the Thai broiler industry is poised for continued growth in 2023, building upon the momentum of the previous year. The industry’s expansion is being fueled by robust demand for chicken meat, both from domestic and international markets, as well as the opening of new export opportunities, particularly in China. These positive developments align with the gradual recovery of the overall economy, leading to increased economic activity and a resurgence in consumer spending.

The Thai broiler industry primarily caters to the domestic market, accounting for approximately 70% of total chicken production. Therefore, domestic consumption serves as a crucial indicator for the industry’s growth trajectory. The remaining 30% is exported to various trading partners, with a significant focus on markets in the Asian region.

Domestic chicken consumption is steadily improving, evidenced by increased sales of chilled-frozen chicken meat and cooked chicken. This trend can be attributed to the economic recovery, revival of the tourism sector, and the return of consumer spending to pre-pandemic levels. Consequently, demand from both households and the service sector has experienced significant growth.

Although the retail price of fresh-slaughtered chicken in Thailand has exhibited a slight deceleration, it is expected to remain at a consistently high level due to strong consumption demand and the elevated costs associated with chicken farming. Moreover, the export of broiler chicken is poised for better growth as well.

However, despite the positive outlook for the Thai broiler industry, it is important to remain vigilant of potential negative risk factors, both in the short and long term, which could potentially hamper the anticipated growth trajectory.

To address these challenges and capitalize on new opportunities, SCB EIC emphasizes the need for the broiler industry to adjust its growth strategy. This includes meeting evolving consumer needs, creating new business prospects, enhancing competitiveness, and fostering sustainable growth. Moreover, industry stakeholders should prioritize research and development efforts to innovate and offer novel chicken products with higher added value. This approach will differentiate Thai chicken products in a highly competitive market landscape expected in the future.

The Thai broiler industry stands to benefit significantly from the ongoing economic recovery and the increased demand for chicken, both domestically and abroad. By leveraging these opportunities and implementing strategic measures, Thailand’s chicken exports are poised for a prosperous year ahead.

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