No Large Firm Thai Industries With Fastest Revenue Growth 2026
In short
Growing of other tree fruits, TSIC code 01259, posted a three year revenue growth rate of 81.6 percent between 2022 and 2025, the fastest of any sizeable Thai industry with zero large companies. Growing of non-glutinous rice, TSIC code 01121, grew 29.1 percent over the same span across 983 registered firms. Neither industry has ever produced a single large company. National revenue across every Thai industry combined rose just 16.0 percent in the same three years. Growth here is happening well outside Thailand's small pool of corporate giants.
Which industries with no large companies are growing revenue fastest?
Growing of other tree fruits answers it outright. TSIC code 01259 grew revenue 81.6 percent on a compound annual basis between 2022 and 2025, faster than any other Thai industry with at least 100 registered companies and zero large firms (DBD, 2026). Growing of non-glutinous rice, TSIC code 01121, sits further down the ranking at 29.1 percent, still nearly twice the national pace. Rice is the far bigger story by scale. It counts 983 registered companies against just 219 for the tree fruit code. Neither industry has ever produced a single large company. National revenue across every Thai industry combined grew only 16.0 percent over the same three years. Both of these industries beat that pace while staying entirely outside Thailand's small pool of corporate giants.
Top three year revenue growth among industries with zero large firms
- 01259 Growing of other tree fruits, Section A82
- 96302, Section S42
- 55102, Section I41
- 50112, Section H38
- 01629, Section A35
- 01121 Growing of non-glutinous rice, Section A29
- 85410, Section P28
- 86902, Section Q27
- 45405, Section G26
- 47891, Section G24
Figures in percent, compound annual growth rate, 2022 to 2025.
Ranked among the 129 five digit TSIC codes with at least 100 registered companies and no large firm at all.
The ten fastest growing no large firm industries
| TSIC code | Section | Companies | Micro plus small share | 3 year revenue CAGR |
|---|---|---|---|---|
| 01259 Growing of other tree fruits | A | 219 | 99.5% | 81.6% |
| 96302 | S | 379 | 99.2% | 41.5% |
| 55102 | I | 1,235 | 99.8% | 40.9% |
| 50112 | H | 137 | 98.5% | 38.0% |
| 01629 | A | 116 | 96.6% | 35.0% |
| 01121 Growing of non-glutinous rice | A | 983 | 99.9% | 29.1% |
| 85410 | P | 1,436 | 99.9% | 27.8% |
| 86902 | Q | 411 | 99.5% | 27.4% |
| 45405 | G | 418 | 99.8% | 25.5% |
| 47891 | G | 171 | 98.8% | 24.3% |
Five digit TSIC codes with zero large companies and at least 100 registered firms, ranked by three year revenue CAGR, as of 17 Jul 2026.
Fast growth is not the same as a healthy industry
Growing of other tree fruits posted a net margin of negative 5.00 percent even as its revenue nearly sextupled over three years, and only 26.94 percent of its 219 registered companies are still active today, well below the 50.0 percent survival rate across all sized Thai companies. Growing of non-glutinous rice tells the opposite story. Its net margin sits at 12.72 percent, well above the national aggregate of 4.11 percent, and 70.09 percent of its companies remain active. Both industries share one trait even so, a complete absence of large companies after this run of growth. Across all ten codes on this list, at least 96.6 percent of registered companies sit in the micro or small band, with medium sized firms ranging from just one up to four per code and not one large company anywhere. That combination matters more than the growth headline alone. An industry can post an eye catching three year revenue jump and still be thinning out underneath, or it can grow steadily while feeding hundreds of small operators who never show up in a large company count.
Definitions
- TSIC code
- Thailand's five digit Standard Industrial Classification code, the most detailed industry label a registered company carries.
- Large company
- The top of DBD's four size bands, micro, small, medium and large, assigned based on a company's most recently filed financial scale.
- Three year revenue CAGR
- The compound annual growth rate of total revenue between two years three years apart. It answers what steady yearly growth rate would turn the starting revenue into the ending revenue.
- Survival rate
- Active companies divided by total registered companies for a given code, expressed as a percentage.
- Net margin
- Aggregate net profit divided by aggregate revenue for all companies in a code that filed a financial statement.
Assumptions
- The growth ranking is limited to codes with at least 100 registered companies, to avoid noise from tiny codes where one company's filing swings the result.
- Growth uses Buddhist calendar statement years 2565 and 2568, Gregorian 2022 and 2025, the most recent complete filing year as of 17 July 2026.
- Size band reflects each company's most recently filed classification, not its history over time, so an industry can have grown into its one medium sized firm during the very window measured here.
- English names for TSIC 01121 and 01259 are drawn from Thailand's National Statistical Office classification standard, since the DBD registry field for five digit industry names is blank.
- A single dominant filer can drive a large share of revenue in a thinly reported code, so growth figures for smaller codes should be read with that concentration in mind.
Methodology
Every five digit TSIC industry code in the DBD registry was checked for its size band mix and its revenue in Buddhist calendar statement years 2565 and 2568, which are 2022 and 2025 in the Gregorian calendar, the most recent complete filing year as of 17 July 2026. A code counts as having no large firm when its DBD size band tally for large companies equals zero. To keep the growth ranking meaningful the list is limited to codes with at least 100 registered companies, 129 codes in total out of 1,228. Three year revenue growth is the compound annual growth rate between total revenue in 2022 and total revenue in 2025 for all companies filing under that code. English names for TSIC 01121 and 01259 come from Thailand's National Statistical Office TSIC 2009 classification standard, since the DBD registry field used for the company counts here does not publish five digit industry names.
How we verified this
- 81.6 percent recomputed as 325423553.61 divided by 54306262.08, raised to the power of one third, minus one, times 100, for TSIC 01259.
- 29.1 percent recomputed the same way for TSIC 01121, 495423557.99 divided by 230214508.52, raised to the power of one third, minus one, times 100.
- TSIC 01259 size bands sum to 219: 202 micro plus 16 small plus 1 medium plus 0 large.
- TSIC 01121 size bands sum to 983: 966 micro plus 16 small plus 1 medium plus 0 large.
- 129 divided by 1,228 equals 10.5 percent of all five digit TSIC codes, and 491 divided by 1,228 equals 40.0 percent, both recomputed from the size band counts.
- National three year revenue growth recomputed as 67,949,733,020,120.65 minus 58,578,665,005,061.32, divided by 58,578,665,005,061.32, equals 16.0 percent.
- Micro plus small share for each of the ten ranked codes was recomputed by dividing count_micro plus count_small by entity_count, all ten clear 96.6 percent.
References
- Department of Business Development. (2026). Registered juristic persons by TSIC industry code, size band and revenue. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- National Statistical Office. (2021). Thailand Standard Industrial Classification 2009, revised edition. Ministry of Digital Economy and Society, Thailand. https://statstd.nso.go.th/downloadcffile.aspx?id=16
Frequently asked questions
Which Thai industry with no large companies grew revenue the fastest between 2022 and 2025?
TSIC code 01259, growing of other tree fruits, grew 81.6 percent on a compound annual basis, the fastest of any code with at least 100 registered companies and zero large firms.
Does growing of non-glutinous rice have any large companies?
No. TSIC code 01121 holds 983 registered companies, 966 micro, 16 small and one medium, and revenue there grew 29.1 percent over the same three years.
Is fast revenue growth a sign this industry is healthy?
Not always. Growing of other tree fruits posted a negative 5.00 percent net margin and just a 26.94 percent survival rate, so its growth spurt has not brought profit or staying power along with it.
How many Thai industry codes have zero large companies?
491 of Thailand's 1,228 five digit TSIC codes, 40.0 percent, have never produced a single large firm. Limiting that to codes with at least 100 registered companies narrows it to 129.
Cite this page
Chatpong L. (2026). No Large Firm Thai Industries With Fastest Revenue Growth 2026. Max Data Insights. https://maxdatathailand.com/insights/micro-only-thai-industries-with-fastest-revenue-growth-2026
Data & corrections
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Written by
Chatpong L.Founder, Max Data, Max Solutions Co., Ltd.
Chatpong L. leads Max Data, a company-intelligence platform built on Thailand's official business registry. He writes about the structure of the Thai economy using primary registry data. His work covers company formation, industry concentration, and regional business activity.
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