THAILANDSICThailand Standard Industrial Classification

TSIC Activity

46314

Wholesale of dairy products

ประกอบกิจการรับซื้อ ขายน้ำนมดิบ และผลิตภัณฑ์จากนม

What this activity covers

Companies in this sector wholesale various dairy products, including milk, ice cream, and related items.

  • Fresh milk — Wholesale of fresh milk, pasteurized, sterilized, or heat-treated
  • Milk-based products — Wholesale of milk-based products
  • Ice cream — Wholesale of ice cream and frozen desserts
  • Yoghurt — Wholesale of yoghurt and sour milk
  • Condensed and powdered milk — Wholesale of condensed milk, powdered milk, butter, and cream

What companies here also do

Seen in real company registrations under this code — beyond the official definition, so licensing may differ.

  • Retail of dairy products — Selling dairy products directly to consumers
  • Distribution of ice cream — Distributing ice cream products to retailers
  • Trading in dairy products — Buying and selling various dairy items

Not included here

  • Wholesale white butter See activity 46316

Foreign ownership

List 3: Restricted, FBL/BOI route availableinherited from 46

Wholesale of goods of all kinds, where the minimum capital per store is below the level prescribed in the Act

Not a hard restriction — only applies while under-capitalised. A foreign-majority wholesaler is exempt from this List 3 item (no Foreign Business Licence needed) once minimum registered capital reaches the Act's threshold, typically THB 100 million per store. Verify current ministerial-regulation figures.

FBA B.E. 2542, List 3 (15)Routes: Foreign Business Licence, BOI promotion, US Treaty of Amity

Auto-mapped, verify against the Act. These TSIC mappings are indicative, not legal advice; the schedules of the Foreign Business Act B.E. 2542 are the authority. See the full foreign ownership reference.

Industry at a glance

as of 23 ก.ค. 69

The whole registered industry under this activity, every registration year, from the DBD DataWarehouse.

747
active companies operate here
฿2.2Bregistered capital, combined
฿39.0B
Sector revenue · 2025
-18% since 2023
฿486.3M
Net profit · 2025
372 profitable
202320242025

net profitrevenue

Foreign investment

new registrations · 2026 YTD
0%of new registered capital is foreign-held
฿0 foreign฿28.9M Thai

Almost entirely Thai-held — little foreign capital enters here.

2 of the 5 largest companies here are foreign-owned Thailand subsidiaries.

New in 2026

21-4.5%

registrations, YTD

Registered capital

฿2.2B-25.9%

since year-end

Largest by registered capital

  1. 1Intercontinental Specialty Milk Co., Ltd.Samut Prakan฿200.0M
  2. 2HD Distributors (Thailand) Co., Ltd.intlBangkok฿188.6M
  3. 3Fonterra (Thailand) Co., Ltd.intlBangkok฿109.0M

Source: Department of Business Development DataWarehouse. Financial figures are combined totals of companies that filed statements; revenue and profit shown for the latest three reporting years.

Companies registered since 2022

Browse all

New DBD registrations under this activity since 2022, the period the registry snapshot covers, not the full historical register.

183
Registered
since 2022
165
Still active
18
Dissolved
฿1.0M
Median capital
of active

New registrations per year

2022peak 54 in 20232026

Largest active companies by registered capital

Source: Department of Business Development (DBD) new-registration records, 2022 to present. Counts cover companies first registered in that window, reflect the latest snapshot load, and may lag the live register.

Emerhub

Restricted activity? There is usually a route.

Emerhub structures foreign-owned companies around FBA restrictions: Foreign Business Licence applications, BOI promotion, and compliant shareholding structures. Talk through your case before you commit to one.

Talk to Emerhub Thailand