Thailand - Dried Milk - Market Analysis, Forecast, Size, Trends and Insights
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View PricingThailand's July 2023 Import of Powdered Milk Drops 12% to $29M
Thailand Powdered Milk Imports
In July 2023, overseas purchases of powdered milk decreased by -19.6% to 8.1K tons, falling for the second month in a row after two months of growth. Overall, imports saw a noticeable shrinkage. The most prominent rate of growth was recorded in February 2023 with an increase of 31% against the previous month. As a result, imports attained the peak of 15K tons. From March 2023 to July 2023, the growth of imports remained at a somewhat lower figure.
In value terms, powdered milk imports dropped to $29M (IndexBox estimates) in July 2023. In general, imports continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in November 2022 when imports increased by 23% month-to-month. 
| COUNTRY | Import Value of Powdered Milk in Thailand (million USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | |
| New Zealand | 29.5 | 26.6 | 16.3 | 14.6 | 25.8 | 30.2 | 40.4 | 39.7 | 26.2 | 36.9 | 29.3 | 23.3 | 19.0 |
| Australia | 7.0 | 2.1 | 3.7 | 3.6 | 2.1 | 3.6 | 3.8 | 2.4 | 2.5 | 2.9 | 4.0 | 4.6 | 3.6 |
| Ireland | 2.3 | 1.7 | 4.1 | 2.1 | 0.8 | 1.3 | N/A | 1.8 | 2.0 | 0.3 | 0.8 | N/A | 0.9 |
| United States | 4.1 | 2.8 | 0.6 | 6.6 | 0.8 | 1.7 | 0.1 | 6.9 | 9.1 | 1.5 | 5.5 | 1.4 | 0.7 |
| Others | 6.4 | 0.8 | 4.4 | 5.7 | 10.7 | 9.3 | 0.4 | 2.2 | 8.7 | 9.0 | 10.0 | 3.7 | 4.9 |
| Total | 49.4 | 34.0 | 29.1 | 32.5 | 40.2 | 46.0 | 44.8 | 53.1 | 48.5 | 50.7 | 49.7 | 33.1 | 29.2 |
Imports by Country
In July 2023, New Zealand (5.7K tons) constituted the largest supplier of powdered milk to Thailand, with a 71% share of total imports. Moreover, powdered milk imports from New Zealand exceeded the figures recorded by the second-largest supplier, Australia (1.1K tons), fivefold. Ireland (256 tons) ranked third in terms of total imports with a 3.2% share.
From July 2022 to July 2023, the average monthly rate of growth in terms of volume from New Zealand totaled -1.6%. The remaining supplying countries recorded the following average monthly rates of imports growth: Australia (-3.5% per month) and Ireland (-5.8% per month).
In value terms, New Zealand ($19M) constituted the largest supplier of powdered milk to Thailand, comprising 65% of total imports. The second position in the ranking was taken by Australia ($3.6M), with a 12% share of total imports. It was followed by Ireland, with a 2.9% share.
From July 2022 to July 2023, the average monthly growth rate of value from New Zealand amounted to -3.6%. The remaining supplying countries recorded the following average monthly rates of imports growth: Australia (-5.4% per month) and Ireland (-8.0% per month).
Imports by Type
Dairy produce; milk and cream, concentrated, not containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) (4.1K tons), dairy produce (3.9K tons) and dairy produce; milk and cream, containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) (37 tons) were the main products of powdered milk imports to Thailand.
From July 2022 to July 2023, the biggest increases were in dairy produce; milk and cream, containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) (with a CAGR of +3.1%), while purchases for the other products experienced a decline.
In value terms, the most traded types of powdered milk in Thailand were dairy produce ($15M), dairy produce; milk and cream, concentrated, not containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) ($14M) and dairy produce; milk and cream, containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) ($223K).
Import Prices by Country
In July 2023, the powdered milk price amounted to $3,616 per ton (CIF, Thailand), picking up by 9.7% against the previous month. Overall, the import price, however, continues to indicate a mild downturn. Over the period under review, average import prices hit record highs at $4,538 per ton in August 2022; however, from September 2022 to July 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was the Netherlands ($26,771 per ton), while the price for Finland ($2,726 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+16.2%), while the prices for the other major suppliers experienced a decline.
This report provides an in-depth analysis of the powdered milk market in Thailand. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 897 - Dry Whole Cow Milk
- FCL 898 - Dry Skim Cow Milk
Country coverage:
- Thailand
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Thailand
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional EditionPRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
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4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORTS
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- COUNTRIES WITH TOP YIELDS
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
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7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
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8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
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9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
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LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2012-2024
- Imports, In Value Terms, By Country, 2012-2024
- Import Prices, By Country, 2012-2024
- Exports, In Physical Terms, By Country, 2012-2024
- Exports, In Value Terms, By Country, 2012-2024
- Exports Prices, By Country, 2012-2024
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LIST OF FIGURES
- Market Volume, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply Vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply Vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Market Size and Growth, by Product
- Average Per Capita Consumption, by Product
- Exports and Growth, by Product
- Export Prices and Growth, by Product
- Production Volume and Growth
- Yield and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Producing Animals: Historical Data (2012–2024) and Forecast (2025–2035)
- Yield: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, in Physical Terms, by Country, 2024
- Imports, in Physical Terms, by Country, 2012-2024
- Imports, in Value Terms, by Country, 2012-2024
- Import Prices, by Country, 2012-2024
- Exports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, in Physical Terms, by Country, 2024
- Exports, in Physical Terms, by Country, 2012-2024
- Exports, in Value Terms, by Country, 2012-2024
- Export Prices, by Country, 2012-2024
