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

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

In 2021, the Thai market for condensed or evaporated milk (unsweetened) was finally on the rise to reach $X after two years of decline. Overall, the total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -17.2% against 2016 indices. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Production of Condensed Or Evaporated Milk (Unsweetened) in Thailand

In value terms, unsweetened condensed and evaporated milk production amounted to $X in 2021 estimated in export price. In general, the total production indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -14.7% against 2016 indices. The most prominent rate of growth was recorded in 2016 with an increase of 55%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Exports of Condensed Or Evaporated Milk (Unsweetened)

Exports from Thailand

In 2021, overseas shipments of condensed or evaporated milk (unsweetened) increased by 706% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, continue to indicate a sharp descent. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, unsweetened condensed and evaporated milk exports surged to $X in 2021. Over the period under review, exports, however, faced a abrupt descent. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for unsweetened condensed and evaporated milk exports from Thailand, with a 81% share of total exports. Moreover, unsweetened condensed and evaporated milk exports to China exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), fivefold. The third position in this ranking was taken by Hong Kong SAR (X tons), with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at +281.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (-34.9% per year) and Hong Kong SAR (+25.2% per year).

In value terms, China ($X) emerged as the key foreign market for condensed or evaporated milk (unsweetened) exports from Thailand, comprising 83% of total exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a 13% share of total exports. It was followed by Hong Kong SAR, with a 2.7% share.

From 2012 to 2021, the average annual growth rate of value to China stood at +295.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (-33.9% per year) and Hong Kong SAR (+29.5% per year).

Export Prices by Country

The average export price for condensed or evaporated milk (unsweetened) stood at $X per ton in 2021, picking up by 3.3% against the previous year. In general, export price indicated a pronounced increase from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, unsweetened condensed and evaporated milk export price decreased by -7.8% against 2016 indices. The growth pace was the most rapid in 2016 when the average export price increased by 55% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Hong Kong SAR ($X per ton) and China ($X per ton), while the average price for exports to Lao People's Democratic Republic ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+18.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Condensed Or Evaporated Milk (Unsweetened)

Imports into Thailand

In 2021, after two years of decline, there was growth in supplies from abroad of condensed or evaporated milk (unsweetened), when their volume increased by 0.2% to X tons. In general, imports saw a significant increase. The growth pace was the most rapid in 2014 with an increase of 5,612%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, unsweetened condensed and evaporated milk imports totaled $X in 2021. Over the period under review, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 7,840%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), France (X tons) and New Zealand (X tons) were the main suppliers of unsweetened condensed and evaporated milk imports to Thailand, with a combined 74% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +187.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest unsweetened condensed and evaporated milk suppliers to Thailand were New Zealand ($X), France ($X) and Australia ($X), together accounting for 77% of total imports.

Australia, with a CAGR of +149.4%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for condensed or evaporated milk (unsweetened) amounted to $X per ton, surging by 3.9% against the previous year. In general, import price indicated a moderate increase from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, unsweetened condensed and evaporated milk import price increased by +79.5% against 2016 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 39% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is likely to see steady growth in the immediate term.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :