Thailand: Market for Salted, Dried or Smoked Meat, and Offal 2024

Market Size for Salted, Dried or Smoked Meat, and Offal in Thailand

The Thai market for salted, dried or smoked meat, and offal shrank to $X in 2022, dropping by -4% against the previous year. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Production of Salted, Dried or Smoked Meat, and Offal in Thailand

In value terms, production of salted, dried or smoked meat, and offal shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when the production volume increased by 34%. As a result, production attained the peak level of $X. From 2019 to 2022, production of growth remained at a somewhat lower figure.

Exports of Salted, Dried or Smoked Meat, and Offal

Exports from Thailand

In 2022, overseas shipments of salted, dried or smoked meat, and offal increased by 2.1% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2013 with an increase of 94% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of salted, dried or smoked meat, and offal surged to $X in 2022. In general, exports continue to indicate prominent growth. The growth pace was the most rapid in 2013 with an increase of 101% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for exports of salted, dried or smoked meat, and offal from Thailand, accounting for a 72% share of total exports. Moreover, exports of salted, dried or smoked meat, and offal to the Netherlands exceeded the volume sent to the second major destination, the UK (X tons), sixfold. Germany (X tons) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands stood at +10.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+17.0% per year) and Germany (-6.2% per year).

In value terms, the Netherlands ($X) remains the key foreign market for salted, dried or smoked meat, and offal exports from Thailand, comprising 72% of total exports. The second position in the ranking was held by the UK ($X), with a 13% share of total exports. It was followed by Germany, with a 6.3% share.

From 2012 to 2022, the average annual growth rate of value to the Netherlands amounted to +11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+17.8% per year) and Germany (-5.3% per year).

Export Prices by Country

The average export price for salted, dried or smoked meat, and offal stood at $X per ton in 2022, growing by 45% against the previous year. In general, the export price saw a relatively flat trend pattern. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Lao People's Democratic Republic ($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 Belgium (+1.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Salted, Dried or Smoked Meat, and Offal

Imports into Thailand

In 2022, approx. X tons of salted, dried or smoked meat, and offal were imported into Thailand; which is down by -11.2% on the year before. Over the period under review, imports continue to indicate a sharp shrinkage. The pace of growth was the most pronounced in 2020 with an increase of 730% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of salted, dried or smoked meat, and offal skyrocketed to $X in 2022. In general, imports saw a deep slump. The pace of growth was the most pronounced in 2020 when imports increased by 151% against the previous year. Over the period under review, imports of reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Spain (X tons), Italy (X tons) and France (X tons) were the main suppliers of imports of salted, dried or smoked meat, and offal to Thailand, with a combined 41% share of total imports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +57.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X) constituted the largest supplier of salted, dried or smoked meat, and offal to Thailand, comprising 20% of total imports. The second position in the ranking was taken by Italy ($X), with a 6.3% share of total imports. It was followed by France, with a 0.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain stood at +23.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-3.8% per year) and France (+54.6% per year).

Import Prices by Country

In 2022, the average import price for salted, dried or smoked meat, and offal amounted to $X per ton, picking up by 160% against the previous year. In general, the import price continues to indicate significant growth. The most prominent rate of growth was recorded in 2017 an increase of 281%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+123.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform