Abstract:
Globally Advertising, Sales Promotion, Public Relations and brand equity in the food industry in Thailand has grown rapidly over the years owing to an increasing demand in the consumer market, both domestically and internationally. In order to meet an escalating trade in processed food products, the Thai Government has set to transform Thailand into Asia’s largest food trade and distribution center. Today, Thailand is one of the world’s top ten producers and exporters of processed food products, with the Thai food industry contributing about 23% to the country’s Gross Domestic Product (GDP) in 2015. In 2016, Thailand rose up by two ranks from the previous year, to become the world’s 13th leading food exporter. Given these positive signs, supportive government policies and the recovering global economy, Thailand’s food industry is more than ready to experience an impressive growth rate in 2017, inviting new players to join its growing food industry. In the meantime, Thailand’s GDP also expanded 3.3 percent from a year earlier in the March quarter of 2017, following a 3.0 percent growth in the fourth quarter of 2016 and slightly above the market expectations of a 3.2 percent expansion. For 2017, Thailand's economic planning agency (NESDB) anticipated Southeast Asia's second biggest economy to grow between 3.3 and 3.8 percent, a narrower range to the 3.0 to 4.0 percent range it forecast previously (Asian Development Bank Outlook 2017).
