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24 Oct 2019

Agriculture

Traceability in Agricultural Products to Bolster Thai Organic Product Market (Current Issue No.3045)

  • ​​The agricultural traceability system serves as an important tool to link production data in each supply chain. The increasing role of modern agricultural technologies will support the adoption of traceability in the entire production process.
  • KResearch views that, over the next 10 years, traceability will help create credibility and expand market opportunities for Thai organic products at home and abroad, especially superfoods and free-form foods. The market value of Thai organic products is expected to grow at 6.5 percent (CAGR) during 2020-2024 and 8.7 percent (CAGR) during 2025-2029 because of their broad-based commercial production.
     
  • Large agribusiness groups, in particular contract farming, restaurants and retail businesses, will be major players in establishing Thailand's traceability system, as they are important sources and destinations of data, while being the most important channel to communicate product data to consumers.



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Agriculture