Thailand: Bacon And Ham Market 2024

Bacon And Ham Market Size in Thailand

The Thai bacon and ham market contracted slightly to $X in 2022, waning by -3.3% against the previous year. In general, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -6.0% against 2019 indices. Bacon and ham consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Bacon And Ham Production in Thailand

In value terms, bacon and ham production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 9%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Bacon And Ham Exports

Exports from Thailand

In 2022, shipments abroad of bacon, ham and other dried, salted or smoked pig meat decreased by -12.9% to X tons, falling for the eighth year in a row after three years of growth. In general, exports recorded a precipitous descent. The pace of growth appeared the most rapid in 2014 with an increase of 127%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, bacon and ham exports reduced notably to $X in 2022. Overall, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2014 with an increase of 140%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for bacon and ham exports from Thailand, accounting for a 80% share of total exports. Moreover, bacon and ham exports to China exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), more than tenfold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to +71.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+75.4% per year) and Taiwan (Chinese) (+20.1% per year).

In value terms, China ($X) remains the key foreign market for bacon, ham and other dried, salted or smoked pig meat exports from Thailand, comprising 81% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 9.4% share of total exports. It was followed by Taiwan (Chinese), with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to +91.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+83.6% per year) and Taiwan (Chinese) (+48.3% per year).

Export Prices by Country

The average bacon and ham export price stood at $X per ton in 2022, waning by -10.6% against the previous year. Overall, the export price, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2021 when the average export price increased by 194%. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+23.5%), while the prices for the other major destinations experienced more modest paces of growth.

Bacon And Ham Imports

Imports into Thailand

For the third consecutive year, Thailand recorded decline in purchases abroad of bacon, ham and other dried, salted or smoked pig meat, which decreased by -33.5% to X tons in 2022. Over the period under review, imports recorded a deep slump. The growth pace was the most rapid in 2015 with an increase of 100%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, bacon and ham imports reduced markedly to $X in 2022. Overall, imports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2015 when imports increased by 68%. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Spain (X tons), Italy (X tons) and France (X tons) were the main suppliers of bacon and ham imports to Thailand, together accounting for 98% of total imports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +36.6%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Spain ($X) constituted the largest supplier of bacon, ham and other dried, salted or smoked pig meat to Thailand, comprising 72% of total imports. The second position in the ranking was held by Italy ($X), with a 23% share of total imports. It was followed by France, with a 2.8% share.

From 2012 to 2022, the average annual growth rate of value from Spain stood at +23.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-3.5% per year) and France (+54.5% per year).

Import Prices by Country

The average bacon and ham import price stood at $X per ton in 2022, surging by 2.9% against the previous year. Overall, the import price showed a significant expansion. The pace of growth appeared the most rapid in 2017 when the average import price increased by 222% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+36.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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