Thailand: Pyrethrum And Peppermint Market 2025

Pyrethrum And Peppermint Market Size in Thailand

In 2021, the Thai pyrethrum and peppermint market was finally on the rise to reach $X after four years of decline. In general, consumption enjoyed a perceptible expansion. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2021, consumption failed to regain momentum.

Pyrethrum And Peppermint Production in Thailand

In value terms, pyrethrum and peppermint production shrank dramatically to $X in 2021 estimated in export price. Overall, production showed a abrupt decline. The growth pace was the most rapid in 2020 with an increase of 91% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Pyrethrum And Peppermint Exports

Exports from Thailand

In 2021, approx. X tons of pyrethrum and peppermint were exported from Thailand; which is down by -14% on 2020. Overall, total exports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +95.8% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 128% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, pyrethrum and peppermint exports declined to $X in 2021. Over the period under review, exports continue to indicate a mild reduction. The pace of growth was the most pronounced in 2016 when exports increased by 36% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for pyrethrum and peppermint exports from Thailand, accounting for a 70% share of total exports. Moreover, pyrethrum and peppermint exports to China exceeded the volume sent to the second major destination, Japan (X tons), sevenfold. The third position in this ranking was held by South Korea (X tons), with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled +6.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-8.9% per year) and South Korea (+92.6% per year).

In value terms, the largest markets for pyrethrum and peppermint exported from Thailand were China ($X), Japan ($X) and the United Arab Emirates ($X), with a combined 65% share of total exports. These countries were followed by South Korea, Vietnam and Taiwan (Chinese), which together accounted for a further 17%.

South Korea, with a CAGR of +102.6%, 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

In 2021, the average pyrethrum and peppermint export price amounted to $X per ton, with an increase of 2.4% against the previous year. In general, the export price, however, saw a noticeable contraction. The most prominent rate of growth was recorded in 2019 an increase of 142%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Japan (+6.2%), while the prices for the other major destinations experienced mixed trend patterns.

Pyrethrum And Peppermint Imports

Imports into Thailand

In 2021, approx. X tons of pyrethrum and peppermint were imported into Thailand; rising by 12% compared with the previous year's figure. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 81% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, pyrethrum and peppermint imports rose markedly to $X in 2021. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +65.0% against 2012 indices. The growth pace was the most rapid in 2020 when imports increased by 17%. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest pyrethrum and peppermint supplier to Thailand, accounting for a 45% share of total imports. Moreover, pyrethrum and peppermint imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was taken by Myanmar (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +1.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+9.2% per year) and Myanmar (+35.3% per year).

In value terms, China ($X) constituted the largest supplier of pyrethrum and peppermint to Thailand, comprising 60% of total imports. The second position in the ranking was taken by India ($X), with a 13% share of total imports. It was followed by Myanmar, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+12.0% per year) and Myanmar (+23.1% per year).

Import Prices by Country

In 2021, the average pyrethrum and peppermint import price amounted to $X per ton, which is down by -1.8% against the previous year. Over the period under review, the import price, however, saw a prominent increase. The pace of growth was the most pronounced in 2019 when the average import price increased by 105% 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 failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while the price for Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (+23.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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