Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Thailand Garment Manufacturing Industry Research Report 2023-2032" report has been added to ResearchAndMarkets.com's offering.
Thailand, as the second-largest economy in Southeast Asia, boasts a per capita GDP of approximately US$6,600, positioning it as a middle to high-income country. The country's population stood at 70.8 million by the end of 2022, and it possesses a robust labor force characterized by low labor costs. With over 40.24 million people aged 15 and above in the workforce, Thailand sustains a minimum daily wage of approximately US$10. 
The textile industry in Thailand encompasses a comprehensive value chain, with more than 2,000 apparel and textile companies operating, primarily concentrated in Bangkok and eastern Thailand. This sector plays a pivotal role in contributing to the country's GDP and export earnings. Thailand stands out for its proficiency in the production, design, and marketing of home textiles, earning a global reputation as a silk producer and yarn manufacturer. Moreover, the nation excels in eco-friendly finishing, dyeing, and printing services that meet international standards, although there is room for further improvement.
Thailand's textile exports are primarily directed towards the United States, Japan, the United Kingdom, Russia, and China. The country's two economic drivers, the textile and garment industry, experienced a downturn in 2020 due to reduced foreign demand during the COVID-19 pandemic. Approximately 3,000 factories pivoted to producing masks and PPE protective clothing to survive the economic challenges. However, the Thai textile industry rebounded in 2021, restoring production to full capacity, and Thai garment and textile factories resumed operations at 100% capacity. The years 2021 and 2022 witnessed a surge in Thailand's apparel exports to the United States, driven by demand from apparel-producing regions like Vietnam, Cambodia, Indonesia, India, Europe, and U.S. garment factories.
In 2021, Thailand began relaxing control measures as the pandemic's impact waned. This, in turn, led to a rapid recovery of Thailand's textile and apparel industry exports in 2021 and 2022. During these years, textile and apparel exports amounted to US$6,526 million and US$6,850 million, respectively, representing year-on-year increases of 13.53% and 4.96%.
Overall, the global garment market presents substantial opportunities, with a steady upward trajectory fueled by the relocation of the global textile and apparel industry to Southeast Asia. Thailand's textile and apparel sector is experiencing rapid growth, supported and promoted by the Thai government, suggesting a promising future. The analyst anticipates that Thailand's textile and apparel exports will reach US$11.8 billion by 2032, with a Compound Annual Growth Rate (CAGR) of 5.6% from 2023 to 2032.
Topics Covered
- Thailand Garment Industry Overview
- The economic and policy environment of the Thai garment industry
- What is the impact of COVID-19 on the Thai garment industry?
- Thailand Garment Industry Market Size 2018-2022
- Analysis of major Thai garment companies
- Key Drivers and Market Opportunities in Thailand's Garment Industry
- What are the key drivers, challenges and opportunities for the Thai garment industry during the forecast period 2023-2032?
- Which are the key players in the Thailand Garment Industry market and what are their competitive advantages?
- What is the expected revenue of Thailand Garments Industry market during the forecast period of 2023-2032?
- What strategies have been adopted by the key players in the market to increase their market share in the industry?
- Which segment of the Thailand Garment Industry market is expected to dominate the market by 2032?
- What are the major unfavorable factors facing the Thai garment industry?
Key Attributes
| Report Attribute | Details |
| No. of Pages | 60 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $7.23 Billion |
| Forecasted Market Value (USD) by 2032 | $11.81 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Thailand |
List of Chapters
1 Overview of the Development of Thailand's Garment Industry
1.1 Definitions and Classifications
1.2 Analysis of Major Products
1.3 Impact of COVID-19 on Thailand's Garment Manufacturing Industry
2 Analysis on Garment Manufacturing Industry in Thailand, 2018-2023
2.1 Development Environment of Thailand's Garment Industry
2.1.1 Economic Environment
2.1.2 Policy Environment
2.1.3 Social Environment
2.2 Thailand Garment Supply Analysis 2018-2022
2.2.1 Analysis of Major Foreign Investment Sources in Thailand's Garment Manufacturing Industry
2.2.2 Clothing Production
2.3 Thailand Market Demand Analysis for Garment
2.3.1 Major Consumer Groups of Clothing
2.3.2 Size of Thailand's Domestic Garment Market
3 Thailand Textile and Clothing Industry Import and Export Analysis
3.1 Imports
3.1.1 Import of Raw Materials
3.1.2 Main Sources of Imports
3.2 Exports
3.2.1 Export Analysis of Thailand's Garment Industry
3.2.2 Main Export Destinations
4 Competition Status of Garment Manufacturing Industry in Thailand
4.1 Barriers to Entry in Thailand's Clothing Industry
4.1.1 Government Policies
4.1.2 Sales Channels
4.1.3 Brand Barriers
4.2 Competitive Structure of Thailand's Garment Manufacturing Industry
4.2.1 Bargaining Power of Raw Material Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Competition within the Garment Industry
4.2.4 Potential Entrants
4.2.5 Alternatives
5 Analysis on Cost and Price in Garment Manufacturing Industry in Thailand
5.1 Thailand Garment Manufacturing Cost Analysis 2018-2022
5.1.1 Cost of Raw Materials
5.1.2 Labor Cost Analysis of Thailand's Garment Manufacturing Industry
5.2 Thailand Clothing Price Analysis
6 Overview of Major Garment Manufacturing Companies in Thailand
6.1 Toray Industries (Thailand) Co. Ltd. Toray Group
6.1.1 Business Profile
6.1.2 Main Products
6.1.3 Modes of Operation
6.2 NaRaYa
6.2.1 Business Profile
6.2.2 Main Products
6.2.3 Modes of Operation
6.3 Jaspal
6.3.1 Business Profile
6.3.2 Main Products
6.3.3 Modes of Operation
6.4 Thai Wacoal
6.4.1 Business Profile
6.4.2 Main Products
6.4.3 Modes of Operation
6.5 Disaya
6.5.1 Business Profile
6.5.2 Main Products
6.5.3 Modes of Operation
7 Thailand Garment Manufacturing Outlook, 2023-2032
7.1 Factors Influencing the Development of Thailand's Garment Manufacturing Industry
7.1.1 Drivers and Market Opportunities in Thailand Garment Manufacturing Industry
7.1.2 Threats and Challenges Facing Thailand's Garment Manufacturing Industry
7.1.3 Industry Prospects and Market Opportunities
7.2 Competitive Landscape Forecast for Thailand Garment Manufacturing Industry
7.3 Supply Forecast of Garment Manufacturing in Thailand, 2023-2032
7.3.1 Thailand Garment Manufacturing Raw Material Import Forecast 2023-2032
7.3.2 Thailand's Garment Export Forecast 2023-2032
7.4 Thailand Garment Manufacturing Market Demand Forecast 2023-2032
7.4.1 Overall Market Demand Forecast for Garment Manufacturing in Thailand, 2023-2032
7.4.2 Demand Forecast for Thailand Garment Manufacturing Segment 2023-2032
For more information about this report visit https://www.researchandmarkets.com/r/lfak2o
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