Market Opportunities and Development Strategies for Thai Insect-Based Food Products in the Japanese Market

Abstract

This academic article aimed to 1) analyze market opportunities and 2) develop strategies for Thai insect-based food products to enter the Japanese market, which was experiencing growth as a source of alternative protein. The research employed a PEST analysis framework, encompassing Political, Economic, Social and Cultural, and Technological factors, to assess the external environment. Additionally, an internal analysis of factors relevant to the Thai insect-based food industry was conducted. The findings revealed significant market potential for Thai insect-based food products in Japan, due to the market's substantial size and continuous expansion. The Japanese government's promotion of alternative protein consumption and sustainable food security further strengthened this potential. There was a growing trend towards incorporating insect-based foods, such as cricket powder, into everyday meals in Japan.To capitalize on this opportunity, Thai insect-based food product development should focus on adapting flavors and textures to suit Japanese consumer preferences. Additionally, developing insect protein powder as a versatile ingredient for various food products like bread, pasta, or protein bars is recommended. Leveraging technology and innovation in production and marketing processes will enhance value and competitiveness in the Japanese market.