Thailand: Soft Drink Market 2024

Soft Drink Market Size in Thailand

The Thai soft drink market surged to $X in 2021, growing by 17% against the previous year. In general, consumption continues to indicate modest growth. Soft drink consumption peaked at $X in 2019; afterwards, it flattened through to 2021.

Soft Drink Production in Thailand

In value terms, soft drink production rose markedly to $X in 2021 estimated in export price. Overall, the total production indicated a notable increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -9.0% against 2019 indices. The pace of growth appeared the most rapid in 2018 with an increase of 26%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Soft Drink Exports

Exports from Thailand

In 2021, after two years of growth, there was significant decline in overseas shipments of soft drinks, when their volume decreased by -30.1% to X litres. Overall, exports, however, continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 44%. The exports peaked at X litres in 2020, and then fell significantly in the following year.

In value terms, soft drink exports declined modestly to $X in 2021. In general, exports, however, continue to indicate a resilient increase. The growth pace was the most rapid in 2013 when exports increased by 21%. Over the period under review, the exports reached the maximum at $X in 2020, and then contracted modestly in the following year.

Exports by Country

Cambodia (X litres), Vietnam (X litres) and China (X litres) were the main destinations of soft drink exports from Thailand, with a combined 66% share of total exports. These countries were followed by Lao People's Democratic Republic, Myanmar, Singapore, Indonesia, the Philippines, the United States, South Korea and Malaysia, which together accounted for a further 25%.

From 2012 to 2021, the biggest increases were in Myanmar (with a CAGR of +47.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X), Vietnam ($X) and China ($X) appeared to be the largest markets for soft drink exported from Thailand worldwide, together comprising 68% of total exports.

China, with a CAGR of +43.8%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average soft drink export price stood at $X per litre in 2021, with an increase of 40% against the previous year. In general, the export price, however, saw a perceptible reduction. The most prominent rate of growth was recorded in 2018 an increase of 49% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per litre in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Singapore ($X per litre), while the average price for exports to South Korea ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+0.0%), while the prices for the other major destinations experienced a decline.

Soft Drink Imports

Imports into Thailand

After five years of growth, purchases abroad of soft drinks decreased by -26.8% to X litres in 2021. In general, imports, however, recorded a buoyant expansion. The growth pace was the most rapid in 2016 when imports increased by 72%. Over the period under review, imports reached the peak figure at X litres in 2020, and then shrank significantly in the following year.

In value terms, soft drink imports shrank significantly to $X in 2021. Over the period under review, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 77% against the previous year. Imports peaked at $X in 2020, and then shrank remarkably in the following year.

Imports by Country

In 2021, Lao People's Democratic Republic (X litres) constituted the largest supplier of soft drink to Thailand, accounting for a 76% share of total imports. Moreover, soft drink imports from Lao People's Democratic Republic exceeded the figures recorded by the second-largest supplier, Malaysia (X litres), more than tenfold. The third position in this ranking was taken by South Korea (X litres), with a 4.8% share.

From 2012 to 2021, the average annual growth rate of volume from Lao People's Democratic Republic totaled +480.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-13.5% per year) and South Korea (+16.0% per year).

In value terms, the largest soft drink suppliers to Thailand were Lao People's Democratic Republic ($X), South Korea ($X) and Malaysia ($X), together comprising 68% of total imports.

Lao People's Democratic Republic, with a CAGR of +261.4%, 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

The average soft drink import price stood at $X per litre in 2021, surging by 7% against the previous year. Overall, the import price, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2014 an increase of 27%. The import price peaked at $X per litre in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was South Korea ($X per litre), while the price for Lao People's Democratic Republic ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+7.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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