Thailand: Market for Preparations Used In Animal Feeding 2024

Market Size for Preparations Used In Animal Feeding in Thailand

The Thai preparations for animal feeding market amounted to $X in 2022, with an increase of 2.3% against the previous year. The market value increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Production of Preparations Used In Animal Feeding in Thailand

In value terms, preparations for animal feeding production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the production volume increased by 19%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Exports of Preparations Used In Animal Feeding

Exports from Thailand

For the ninth year in a row, Thailand recorded growth in overseas shipments of preparations used in animal feeding, which increased by 10% to X tons in 2022. Overall, total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +86.5% against 2013 indices. The pace of growth appeared the most rapid in 2021 with an increase of 21%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, preparations for animal feeding exports surged to $X in 2022. In general, exports showed prominent growth. The growth pace was the most rapid in 2021 when exports increased by 22%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

The United States (X tons), Lao People's Democratic Republic (X tons) and Japan (X tons) were the main destinations of preparations for animal feeding exports from Thailand, together comprising 36% of total exports. Malaysia, the Philippines, Cambodia, Australia, Vietnam, India, Indonesia, Taiwan (Chinese) and Italy lagged somewhat behind, together comprising a further 48%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +13.8%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for preparations used in animal feeding exports from Thailand, comprising 29% of total exports. The second position in the ranking was taken by Japan ($X), with an 11% share of total exports. It was followed by Malaysia, with a 6% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +18.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-0.2% per year) and Malaysia (+9.9% per year).

Export Prices by Country

The average preparations for animal feeding export price stood at $X per ton in 2022, increasing by 5.7% against the previous year. Over the last decade, it increased at an average annual rate of +3.6%. The growth pace was the most rapid in 2018 when the average export price increased by 12% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Lao People's Democratic Republic ($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 Taiwan (Chinese) (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Preparations Used In Animal Feeding

Imports into Thailand

In 2022, the amount of preparations used in animal feeding imported into Thailand shrank to X tons, with a decrease of -13.7% compared with the previous year's figure. Overall, total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -13.8% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 53% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, preparations for animal feeding imports reached $X in 2022. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.7% 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 +40.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 19%. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

China (X tons), the United States (X tons) and South Korea (X tons) were the main suppliers of preparations for animal feeding imports to Thailand, with a combined 64% share of total imports. Vietnam, the Netherlands, France, Spain, Singapore, Belgium, Finland, Morocco, Malaysia and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +59.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and South Korea ($X) appeared to be the largest preparations for animal feeding suppliers to Thailand, with a combined 55% share of total imports. France, the Netherlands, Singapore, Vietnam, Belgium, Spain, Taiwan (Chinese), Finland, Malaysia and Morocco lagged somewhat behind, together comprising a further 27%.

In terms of the main suppliers, Vietnam, with a CAGR of +29.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average preparations for animal feeding import price amounted to $X per ton, growing by 17% against the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 18%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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