Thailand: Market for Butter And Dairy Spreads 2025

Market Size for Butter And Dairy Spreads in Thailand

The Thai butter and dairy spreads market declined notably to $X in 2022, waning by -15.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a resilient increase. As a result, consumption attained the peak level of $X, and then fell dramatically in the following year.

Exports of Butter And Dairy Spreads

Exports from Thailand

In 2022, overseas shipments of butter and dairy spreads increased by 78% to X tons, rising for the second consecutive year after two years of decline. In general, exports recorded a resilient increase. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, butter and dairy spreads exports soared to $X in 2022. Over the period under review, exports showed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Myanmar (X tons) was the main destination for butter and dairy spreads exports from Thailand, accounting for a 41% share of total exports. Moreover, butter and dairy spreads exports to Myanmar exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), twofold. The Philippines (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Myanmar stood at +27.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (-4.3% per year) and the Philippines (+162.6% per year).

In value terms, the largest markets for butter and dairy spreads exported from Thailand were the Philippines ($X), Myanmar ($X) and Lao People's Democratic Republic ($X), together accounting for 73% of total exports.

The Philippines, with a CAGR of +215.1%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average butter and dairy spreads export price amounted to $X per ton, waning by -3.7% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 49%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

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 the Philippines ($X per ton), while the average price for exports to Myanmar ($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 the Philippines (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Butter And Dairy Spreads

Imports into Thailand

In 2022, butter and dairy spreads imports into Thailand declined to X tons, with a decrease of -6.1% compared with 2021. Over the period under review, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 57% against the previous year. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, butter and dairy spreads imports amounted to $X in 2022. In general, imports, however, posted a strong increase. The growth pace was the most rapid in 2021 when imports increased by 77% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

New Zealand (X tons), France (X tons) and Finland (X tons) were the main suppliers of butter and dairy spreads imports to Thailand, together accounting for 94% of total imports.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +12.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest butter and dairy spreads suppliers to Thailand were New Zealand ($X), France ($X) and Finland ($X), with a combined 94% share of total imports.

Among the main suppliers, Finland, with a CAGR of +25.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average butter and dairy spreads import price amounted to $X per ton, surging by 8.1% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butter and dairy spreads import price increased by +33.6% against 2019 indices. The most prominent rate of growth was recorded in 2017 an increase of 31%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Denmark ($X per ton), while the price for Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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