Thailand: Coffee Extract Market 2024

Coffee Extract Market Size in Thailand

The Thai coffee extract market rose sharply to $X in 2021, with an increase of 8.9% against the previous year. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Coffee Extract Production in Thailand

In value terms, coffee extract production rose to $X in 2021 estimated in export price. Overall, production continues to indicate a slight curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 18%. Coffee extract production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Coffee Extract Exports

Exports from Thailand

Coffee extract exports from Thailand declined to X tons in 2021, waning by -10.9% against 2020 figures. Overall, exports showed a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 38%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, coffee extract exports contracted to $X in 2021. In general, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when exports increased by 12% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Cambodia (X tons), Myanmar (X tons) and Lao People's Democratic Republic (X tons) were the main destinations of coffee extract exports from Thailand, together comprising 69% of total exports. These countries were followed by the Philippines, Australia, Israel, Hong Kong SAR, the UK, China and the United Arab Emirates, which together accounted for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +56.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for coffee extract exported from Thailand were Cambodia ($X), Lao People's Democratic Republic ($X) and Myanmar ($X), together comprising 62% of total exports. These countries were followed by Australia, the Philippines, Hong Kong SAR, China, the UK, Israel and the United Arab Emirates, which together accounted for a further 28%.

Among the main countries of destination, the UK, with a CAGR of +60.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average coffee extract export price stood at $X per ton in 2021, with an increase of 12% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2019 an increase of 37%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Israel ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Coffee Extract Imports

Imports into Thailand

In 2021, imports of coffee extracts, essences and concentrates into Thailand rose modestly to X tons, increasing by 2.7% compared with the year before. The total import volume increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 43%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, coffee extract imports rose slightly to $X in 2021. The total import value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 43% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Malaysia (X tons) constituted the largest supplier of coffee extract to Thailand, accounting for a 61% share of total imports. Moreover, coffee extract imports from Malaysia exceeded the figures recorded by the second-largest supplier, Lao People's Democratic Republic (X tons), fivefold. Vietnam (X tons) ranked third in terms of total imports with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Malaysia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Lao People's Democratic Republic (+37.5% per year) and Vietnam (+11.5% per year).

In value terms, Malaysia ($X) constituted the largest supplier of coffee extracts, essences and concentrates to Thailand, comprising 68% of total imports. The second position in the ranking was held by Vietnam ($X), with a 9.8% share of total imports. It was followed by Lao People's Democratic Republic, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Malaysia amounted to +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+12.8% per year) and Lao People's Democratic Republic (+34.2% per year).

Import Prices by Country

In 2021, the average coffee extract import price amounted to $X per ton, leveling off at the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 36% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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