Thailand Eyes Global Wellness Market Worth 6.7 Trillion Dollars
Thailand is launching four strategies to capture a share of the 6.7 trillion-dollar global wellness market by positioning its herbal and natural products as scientifically validated health solutions. The country's herbal retail trade reache
Thailand's Office of Trade and Economic Strategy is launching four plans to position Thai agricultural products in the booming global wellness and longevity market, projected to reach 6.7 trillion US dollars by 2040. The office director Nanthapon Jiralertpongse revealed that modern consumers are willing to pay significantly more for health-focused products backed by scientific evidence, rather than waiting until they fall ill. Thai herbal and natural products remain highly sought globally, with the country ranking 11th in herbal retail trade worth 1.36 billion US dollars in 2024, up 5.2% from the previous year and expected to reach 1.84 billion dollars by 2030.
The four urgent strategies include: first, elevating agricultural extracts to medical-grade standards through clinical validation, using champion Thai herbs like Centella asiatica for skin healing and turmeric for deep anti-inflammatory effects; second, integrating extracts into daily consumer products and personalized nutrition, particularly for users of GLP-1 weight-loss drugs; and third and fourth measures aimed at expanding market reach and building international credibility. Over 50% of fast-moving consumer goods sold online in 2024 emphasize health benefits, with consumers willing to pay at least 20% more for scientifically proven results.
