The Thai beer industry, valued at over THB 200 billion (USD 6 billion), is set to experience heightened competition as Chang Beer, brewed by Thai Beverage (ThaiBev), seeks to dethrone the market leader. According to a report from Nation Thailand on October 12, Chang is gearing up to challenge Boon Rawd Brewery, which currently holds a 62-63% market share, primarily driven by its popular Singha and Leo brands. In contrast, Chang Beer holds a significant but smaller share at 32%, while Carabao Beer, brewed by the Carabao Group, accounts for the remainder of about 5%.
While domestic brands dominate the local market, accounting for 98% of beer sales, European imports represent only about 1%. Boon Rawd Brewery’s 90-year history has made Singha and Leo household names, while ThaiBev, which entered the beer market in 1994, has been competing vigorously with Chang Beer.
ThaiBev's beer business head, Songwit Sritham, projects the Thai beer market to reach around 20 million hectolitres in 2024, with an estimated single-digit growth. With Thailand expecting a surge in tourism, the beer market is predicted to surpass pre-pandemic levels by 2025.
Chang Beer's strategy to challenge Boon Rawd’s dominance includes a strong focus on expanding its premium mass beer lineup. Key products like Coldbrew, Federbroy, and unpasteurized Chang are at the forefront of this push, along with plans to widen distribution networks, secure more shelf space, and leverage new technologies and innovations.
However, Boon Rawd remains confident in its position. Thitiporn Thammapimookkul, the company’s chief marketing officer, expressed that proactive marketing efforts have kept their brands at the forefront. She highlighted that Leo Beer alone has maintained a 50% market share, further solidifying Boon Rawd’s leading status.
Carabao Group, initially known for energy drinks, is a relatively new player in the beer industry. In 2023, the company invested over THB 4 billion (USD 121 million) in a new brewery and aims to capture a 10% market share in the coming years.
As Chang Beer ramps up its efforts, industry experts are watching closely to see if it can successfully challenge Boon Rawd Brewery’s long-standing dominance in the competitive Thai beer market.