Krungthai COMPASS research center at Krungthai Bank reported that Thailand's high-value-added Longevity Food market will grow from 15.7 billion baht in 2024 to 32.0 billion baht in 2035, a CAGR of 6.7% per year, driven by an aging society and a rising number of patients with chronic non-communicable diseases, expected to increase from about 22 million people in 2024 to nearly 30 million in 2035. Dr. Supree Srisamran, Director of the Krungthai COMPASS research center, stated that Thais' average life expectancy rose from 76.8 to 77.6 years during 2016-2021, but healthy life expectancy fell from 67.2 to 65.8 years, widening the period of living with health limitations from 9.6 to 11.8 years. Meanwhile, the burden of NCDs creates economic costs of about 1.6 to 1.7 trillion baht per year, and if the number of NCD patients fell by 5%, it would reduce economic costs by about 141 billion baht per year, or roughly 4.4 times the value of the Longevity Food market. Mr. Kritsanon Jindawong, an analyst at the Krungthai COMPASS research center, advised Thai operators to accelerate upgrading products in the Longevity Food segment to carry clear and credible health claims, while investing in research and development and building partnerships with players in the Health Ecosystem to elevate Thailand's food business toward creating added value through innovation and health knowledge.
Krung Thai Bank Public Company LimitedKrungthai COMPASS research center (part of Krungthai Bank) authored the report on Thailand's Longevity Food market; no direct financial impact on the bank itself.
