Thailand: Caramel Market 2022

Caramel Market Size in Thailand

After two years of growth, the Thai caramel market decreased by -X% to $X in 2020. Over the period under review, consumption continues to indicate a perceptible downturn. The pace of growth was the most pronounced in 2019 when the market value increased by X% against the previous year. Over the period under review, the market hit record highs at $X in 2008; however, from 2009 to 2020, consumption failed to regain the momentum.

Caramel Production in Thailand

In value terms, caramel production skyrocketed to $X in 2020 estimated in export prices. Overall, production enjoyed a strong increase. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Caramel Exports

Exports from Thailand

In 2020, caramel exports from Thailand skyrocketed to X tons, rising by X% on the year before. Overall, exports saw a significant increase. As a result, exports reached the peak and are likely to continue growth in the immediate term.

In value terms, caramel exports soared to $X in 2020. In general, exports continue to indicate a significant expansion. As a result, exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for caramel exports from Thailand, accounting for a X% share of total exports. It was followed by the Philippines (X tons), with a X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of volume to China stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+X% per year) and Taiwan (Chinese) (+X% per year).

In value terms, China ($X) remains the key foreign market for caramel exports from Thailand, comprising X% of total exports. The second position in the ranking was occupied by the Philippines ($X), with a X% share of total exports.

From 2007 to 2020, the average annual rate of growth in terms of value to China stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+X% per year) and Taiwan (Chinese) (+X% per year).

Export Prices by Country

The average caramel export price stood at $X per ton in 2020, waning by -X% against the previous year. Overall, the export price saw a abrupt contraction. The most prominent rate of growth was recorded in 2011 when the average export price increased by X% year-to-year. Over the period under review, average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2020, export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2020, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese), while the prices for the other major destinations experienced a decline.

Caramel Imports

Imports into Thailand

For the fourth consecutive year, Thailand recorded growth in supplies from abroad of caramel, which increased by X% to X tons in 2020. Overall, imports recorded a prominent expansion. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2020 and are expected to retain growth in the immediate term.

In value terms, caramel imports surged to $X in 2020. In general, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2010 with an increase of X% y-o-y. Over the period under review, imports reached the peak figure in 2020 and are expected to retain growth in years to come.

Imports by Country

In 2020, China (X tons) constituted the largest caramel supplier to Thailand, with a X% share of total imports. Moreover, caramel imports from China exceeded the figures recorded by the second-largest supplier, the U.S. (X tons), more than tenfold. Malaysia (X tons) ranked third in terms of total imports with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the U.S. (+X% per year) and Malaysia (+X% per year).

In value terms, China ($X) constituted the largest supplier of caramel to Thailand, comprising X% of total imports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total imports. It was followed by Malaysia, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the U.S. (+X% per year) and Malaysia (+X% per year).

Import Prices by Country

In 2020, the average caramel import price amounted to $X per ton, shrinking by -X% against the previous year. Over the period under review, the import price recorded a perceptible slump. The most prominent rate of growth was recorded in 2008 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2020, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was the U.S. ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Malaysia, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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