Thailand: Dairy Spread Market 2024

Dairy Spread Market Size in Thailand

The Thai dairy spread market contracted modestly to $X in 2022, falling by -2% against the previous year. The market value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. Dairy spread consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Dairy Spread Production in Thailand

In value terms, dairy spread production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 23%. Dairy spread production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Dairy Spread Exports

Exports from Thailand

In 2022, approx. X tons of dairy spreads were exported from Thailand; falling by -5.4% against 2021 figures. Overall, exports recorded a dramatic shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 47%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, dairy spread exports expanded significantly to $X in 2022. Over the period under review, exports saw a precipitous shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 29% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Cambodia (X tons) was the main destination for dairy spread exports from Thailand, with a 74% share of total exports. Moreover, dairy spread exports to Cambodia exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Cambodia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (-36.4% per year) and Myanmar (-16.3% per year).

In value terms, Cambodia ($X) remains the key foreign market for dairy spreads exports from Thailand, comprising 83% of total exports. The second position in the ranking was held by Lao People's Democratic Republic ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Cambodia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (-38.6% per year) and Myanmar (-35.0% per year).

Export Prices by Country

The average dairy spread export price stood at $X per ton in 2022, picking up by 14% against the previous year. In general, the export price, however, continues to indicate a mild slump. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to Myanmar ($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 Cambodia (-0.6%), while the prices for the other major destinations experienced a decline.

Dairy Spread Imports

Imports into Thailand

For the third year in a row, Thailand recorded growth in purchases abroad of dairy spreads, which increased by 13% to X kg in 2022. In general, imports, however, recorded a precipitous decline. The most prominent rate of growth was recorded in 2021 with an increase of 700%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, dairy spread imports rose modestly to $X in 2022. Overall, imports, however, recorded a precipitous shrinkage. The pace of growth was the most pronounced in 2021 when imports increased by 444% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, France (X kg) constituted the largest supplier of dairy spread to Thailand, with a 89% share of total imports. Moreover, dairy spread imports from France exceeded the figures recorded by the second-largest supplier, Uruguay (X kg), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from France was relatively modest.

In value terms, France ($X) constituted the largest supplier of dairy spreads to Thailand, comprising 98% of total imports. The second position in the ranking was held by Uruguay ($X), with a 2% share of total imports.

From 2012 to 2022, the average annual growth rate of value from France was relatively modest.

Import Prices by Country

The average dairy spread import price stood at $X per ton in 2022, with a decrease of -7.5% against the previous year. Over the period under review, the import price continues to indicate a mild contraction. The pace of growth was the most pronounced in 2014 an increase of 3.8%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Uruguay totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+17.2%).

Source: IndexBox Platform

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