Thailand: Market for Condensed Or Evaporated Milk (Sweetened) 2024

Market Size for Condensed Or Evaporated Milk (Sweetened) in Thailand

The Thai market for condensed or evaporated milk (sweetened) declined notably to $X in 2022, dropping by -41.7% against the previous year. In general, consumption showed a abrupt setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Condensed Or Evaporated Milk (Sweetened) in Thailand

In value terms, sweetened condensed and evaporated milk production contracted to $X in 2022 estimated in export price. In general, production showed a abrupt setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by 6%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Exports of Condensed Or Evaporated Milk (Sweetened)

Exports from Thailand

In 2022, approx. X tons of condensed or evaporated milk (sweetened) were exported from Thailand; rising by 32% on the previous year's figure. Overall, exports, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 46% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, sweetened condensed and evaporated milk exports soared to $X in 2022. In general, exports, however, continue to indicate a deep contraction. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Lao People's Democratic Republic (X tons), Cambodia (X tons) and the Philippines (X tons) were the main destinations of sweetened condensed and evaporated milk exports from Thailand, with a combined 86% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +290.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X), Lao People's Democratic Republic ($X) and the Philippines ($X) were the largest markets for sweetened condensed and evaporated milk exported from Thailand worldwide, with a combined 84% share of total exports.

Among the main countries of destination, the Philippines, with a CAGR of +293.2%, saw the highest growth rate of 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 export price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, increasing by 14% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 24%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Lao People's Democratic Republic ($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) (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Sweetened)

Imports into Thailand

In 2022, the amount of condensed or evaporated milk (sweetened) imported into Thailand contracted notably to X tons, dropping by -89.6% compared with the previous year's figure. In general, imports saw a sharp shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 349% against the previous year. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, sweetened condensed and evaporated milk imports reduced dramatically to $X in 2022. Over the period under review, imports saw a dramatic decline. The most prominent rate of growth was recorded in 2017 with an increase of 249% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, France (X tons) constituted the largest sweetened condensed and evaporated milk supplier to Thailand, accounting for a 66% share of total imports. Moreover, sweetened condensed and evaporated milk imports from France exceeded the figures recorded by the second-largest supplier, Australia (X tons), threefold. Belgium (X tons) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2022, the average annual growth rate of volume from France stood at +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-4.8% per year) and Belgium (+5.9% per year).

In value terms, France ($X) constituted the largest supplier of condensed or evaporated milk (sweetened) to Thailand, comprising 61% of total imports. The second position in the ranking was taken by the United States ($X), with an 11% share of total imports. It was followed by Belgium, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France totaled +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+23.2% per year) and Belgium (+3.8% per year).

Import Prices by Country

The average import price for condensed or evaporated milk (sweetened) stood at $X per ton in 2022, growing by 122% against the previous year. Overall, the import price saw a prominent expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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