Thailand: Market for Manufactured Tobacco, Extracts And Essences 2024

Market Size for Manufactured Tobacco, Extracts And Essences in Thailand

In 2021, after four years of decline, there was significant growth in the Thai market for manufactured tobacco, extracts and essences, when its value increased by 117% to $X. In general, consumption enjoyed a significant expansion. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Production of Manufactured Tobacco, Extracts And Essences in Thailand

In value terms, manufactured tobacco, extracts and essences production stood at $X in 2021 estimated in export price. Over the period under review, production saw a sharp setback. The most prominent rate of growth was recorded in 2020 when the production volume decreased by 99.9% against the previous year. Manufactured tobacco, extracts and essences production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Manufactured Tobacco, Extracts And Essences

Exports from Thailand

After two years of decline, shipments abroad of manufactured tobacco, extracts and essences increased by 799% to X tons in 2021. Overall, exports posted a significant increase. The pace of growth was the most pronounced in 2018 with an increase of 1,711% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, manufactured tobacco, extracts and essences exports surged to $X in 2021. Over the period under review, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Myanmar (X tons) was the main destination for manufactured tobacco, extracts and essences exports from Thailand, accounting for a 95% share of total exports. Moreover, manufactured tobacco, extracts and essences exports to Myanmar exceeded the volume sent to the second major destination, Singapore (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Myanmar totaled +682.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+22.4% per year) and Cambodia (-57.0% per year).

In value terms, Myanmar ($X) emerged as the key foreign market for manufactured tobacco, extracts and essences exports from Thailand, comprising 86% of total exports. The second position in the ranking was taken by Singapore ($X), with a 14% share of total exports. It was followed by Cambodia, with less than 0.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Myanmar totaled +474.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+18.5% per year) and Cambodia (-47.3% per year).

Export Prices by Country

The average export price for manufactured tobacco, extracts and essences stood at $X per ton in 2021, which is down by -34.3% against the previous year. Overall, the export price continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2016 when the average export price increased by 119% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+21.8%), while the prices for the other major destinations experienced a decline.

Imports of Manufactured Tobacco, Extracts And Essences

Imports into Thailand

In 2021, supplies from abroad of manufactured tobacco, extracts and essences increased by 71% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports saw significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 44,519%. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, manufactured tobacco, extracts and essences imports surged to $X in 2021. Overall, imports enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 2,295%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, South Korea (X tons) constituted the largest manufactured tobacco, extracts and essences supplier to Thailand, with a 72% share of total imports. Moreover, manufactured tobacco, extracts and essences imports from South Korea exceeded the figures recorded by the second-largest supplier, India (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea amounted to +42.5%.

In value terms, the largest manufactured tobacco, extracts and essences suppliers to Thailand were India ($X) and South Korea ($X).

In terms of the main suppliers, India, with a CAGR of +36.1%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

In 2021, the average import price for manufactured tobacco, extracts and essences amounted to $X per ton, rising by 7.2% against the previous year. Over the period under review, the import price, however, showed a noticeable downturn. The pace of growth was the most pronounced in 2019 when the average import price increased by 1,819% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for South Korea totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.6%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :