Nichirei Foods predicts that the prepared food and restaurant market (excluding convenience stores) will be worth 33.8 trillion yen (approximately 8.45 trillion baht) in 2024, expanding again after surpassing the level in 2019 before the COVID-19 outbreak. The main factors are the increase in the number of households and the number of female workers, which are causing people to increasingly eat out. In addition, the demand from foreign tourists (inbound demand) is also helping to expand the market. In 2024, the number of foreign tourists visiting Japan reached 36.87 million, the highest number ever, and the use of eating out at tourist attractions has also increased. However, the number of workers in the accommodation and food service industry decreased by approximately 380,000 from 2019, raising concerns about the efficiency of restaurant production, and the labor shortage is currently the biggest problem.

Under these circumstances, Nichirei Foods is introducing new products that have authentic tastes and freshly cooked feel, while aiming to reduce the number of steps in the workplace. “In the past, there were three employees in the workplace, but now there are only two employees,” said an executive at a food manufacturer. If the money saved on labor costs is invested in high-quality frozen food, it will be possible to offer delicious dishes in a short time. The new products for hotel buffets will also be diversified, with high-quality frozen food that reduces preparation time, such as salads, fish products, and desserts. Overall, the introduction of high-quality, affordable frozen products is an attractive proposition for the food industry. Impact on the Thai economy

Impact on the Thai economy

Thailand is a large market for processed food for Japan. However, in the future, there will be opportunities for processed frozen food products, especially frozen products that do not require much time or hassle in preparing food, such as ready-to-eat frozen products for households and the food industry outside the home, especially family restaurants or buffet restaurants, including office canteens, which will receive more attention from buyers in Japan.
Issue 20, February 8-14, 2025-Web
Nikkei Newspaper, February 12, 2025