Thailand: Market for Buttermilk And Buttermilk Powder 2024

Market Size for Buttermilk And Buttermilk Powder in Thailand

The Thai buttermilk and buttermilk powder market dropped to $X in 2022, waning by -13.7% against the previous year. Overall, consumption showed a perceptible descent. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Production of Buttermilk And Buttermilk Powder in Thailand

In value terms, buttermilk and buttermilk powder production declined to $X in 2022 estimated in export price. Overall, production showed a mild decline. The most prominent rate of growth was recorded in 2016 when the production volume increased by 35%. Buttermilk and buttermilk powder production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Buttermilk And Buttermilk Powder

Exports from Thailand

Buttermilk and buttermilk powder exports from Thailand expanded remarkably to X tons in 2022, picking up by 12% against the year before. In general, exports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2013 with an increase of 189%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, buttermilk and buttermilk powder exports amounted to $X in 2022. Over the period under review, exports posted a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of 194% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Philippines (X tons) was the main destination for buttermilk and buttermilk powder exports from Thailand, with a 64% share of total exports. Moreover, buttermilk and buttermilk powder exports to the Philippines exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), sixfold. The third position in this ranking was taken by Cambodia (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Philippines amounted to +167.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+5.4% per year) and Cambodia (-0.3% per year).

In value terms, the Philippines ($X) remains the key foreign market for buttermilk and buttermilk powder exports from Thailand, comprising 55% of total exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a 15% share of total exports. It was followed by Cambodia, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to the Philippines totaled +176.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+5.5% per year) and Cambodia (-1.6% per year).

Export Prices by Country

The average buttermilk and buttermilk powder export price stood at $X per ton in 2022, waning by -9.5% against the previous year. Over the period under review, the export price saw a pronounced setback. The pace of growth was the most pronounced in 2019 an increase of 32%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to the Philippines ($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 Singapore (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Buttermilk And Buttermilk Powder

Imports into Thailand

In 2022, overseas purchases of buttermilk and buttermilk powder decreased by -23.5% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports recorded a pronounced setback. The pace of growth appeared the most rapid in 2019 with an increase of 33%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, buttermilk and buttermilk powder imports dropped slightly to $X in 2022. Overall, imports continue to indicate a mild setback. The growth pace was the most rapid in 2014 with an increase of 29% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest supplier of buttermilk and buttermilk powder to Thailand, accounting for a 60% share of total imports. Moreover, buttermilk and buttermilk powder imports from New Zealand exceeded the figures recorded by the second-largest supplier, the United States (X tons), eightfold. The Netherlands (X tons) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume from New Zealand stood at -3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+14.1% per year) and the Netherlands (-9.2% per year).

In value terms, New Zealand ($X) constituted the largest supplier of buttermilk and buttermilk powder to Thailand, comprising 63% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 7.8% share of total imports. It was followed by the United States, with a 6.6% share.

From 2012 to 2022, the average annual growth rate of value from New Zealand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-6.7% per year) and the United States (+15.3% per year).

Import Prices by Country

In 2022, the average buttermilk and buttermilk powder import price amounted to $X per ton, picking up by 26% against the previous year. Over the period under review, the import price recorded noticeable growth. The most prominent rate of growth was recorded in 2020 an increase of 51%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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