Thailand: Powdered Milk Market 2025

Powdered Milk Market Size in Thailand

The Thai powdered milk market soared to $X in 2022, jumping by 22% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +98.0% against 2016 indices. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the near future.

Powdered Milk Exports

Exports from Thailand

In 2022, the amount of powdered milk exported from Thailand fell to X tons, waning by -12.1% on 2021. In general, exports, however, recorded measured growth. The most prominent rate of growth was recorded in 2016 when exports increased by 131% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, powdered milk exports fell rapidly to $X in 2022. Overall, exports saw a pronounced curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 39% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons), Lao People's Democratic Republic (X tons) and Cambodia (X tons) were the main destinations of powdered milk exports from Thailand, with a combined 77% share of total exports. Myanmar, Taiwan (Chinese), the United States and Vietnam lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (with a CAGR of +117.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for powdered milk exported from Thailand were Japan ($X), Myanmar ($X) and Lao People's Democratic Republic ($X), with a combined 65% share of total exports.

Among the main countries of destination, Myanmar, with a CAGR of +129.8%, 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 powdered milk export price stood at $X per ton in 2022, declining by -14% against the previous year. Over the period under review, the export price saw a abrupt slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by 29%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to the United States ($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 Vietnam (+23.8%), while the prices for the other major destinations experienced more modest paces of growth.

Powdered Milk Imports

Imports into Thailand

For the third year in a row, Thailand recorded growth in supplies from abroad of powdered milk, which increased by 7.3% to X tons in 2022. The total import volume increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when imports increased by 22% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, powdered milk imports soared to $X in 2022. Overall, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +144.2% against 2016 indices. The growth pace was the most rapid in 2017 with an increase of 34%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest supplier of powdered milk to Thailand, accounting for a 65% share of total imports. Moreover, powdered milk imports from New Zealand exceeded the figures recorded by the second-largest supplier, Australia (X tons), sixfold. The United States (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand amounted to +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+0.1% per year) and the United States (+5.4% per year).

In value terms, New Zealand ($X) constituted the largest supplier of powdered milk to Thailand, comprising 65% of total imports. The second position in the ranking was taken by Australia ($X), with an 11% share of total imports. It was followed by the United States, with an 8.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from New Zealand stood at +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (+2.5% per year) and the United States (+7.8% per year).

Import Prices by Country

The average powdered milk import price stood at $X per ton in 2022, jumping by 19% against the previous year. Over the period under review, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered milk import price increased by +86.6% against 2016 indices. The pace of growth was the most pronounced in 2013 an increase of 28% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the Czech Republic ($X per ton) and the Netherlands ($X per ton), while the price for France ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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