Thailand: Market for Powdered, Condensed Or Evaporated Milk 2024

Market Size for Powdered, Condensed Or Evaporated Milk in Thailand

For the third consecutive year, the Thai market for powdered, condensed or evaporated milk recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in years to come.

Production of Powdered, Condensed Or Evaporated Milk in Thailand

In value terms, powdered, condensed or evaporated milk production declined to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Powdered, condensed or evaporated milk production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Powdered, Condensed Or Evaporated Milk

Exports from Thailand

In 2022, overseas shipments of powdered, condensed or evaporated milk increased by X% to X tons, rising for the second year in a row after five years of decline. Over the period under review, exports, however, recorded a pronounced reduction. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, powdered, condensed or evaporated milk exports dropped to $X in 2022. In general, exports, however, recorded a noticeable descent. The pace of growth appeared the most rapid in 2021 with an increase of X%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Lao People's Democratic Republic (X tons), Cambodia (X tons) and Japan (X tons) were the main destinations of powdered, condensed or evaporated milk exports from Thailand, with a combined X% share of total exports.

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

In value terms, Lao People's Democratic Republic ($X), Cambodia ($X) and Japan ($X) were the largest markets for powdered, condensed or evaporated milk exported from Thailand worldwide, with a combined X% share of total exports.

Among the main countries of destination, Japan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for powdered, condensed or evaporated milk amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price saw a slight downturn. The most prominent rate of growth was recorded in 2019 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

Imports of Powdered, Condensed Or Evaporated Milk

Imports into Thailand

For the third year in a row, Thailand recorded growth in purchases abroad of powdered, condensed or evaporated milk, which increased by X% to X tons in 2022. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, powdered, condensed or evaporated milk imports surged to $X in 2022. Over the period under review, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2016 indices. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest powdered, condensed or evaporated milk supplier to Thailand, with a X% share of total imports. Moreover, powdered, condensed or evaporated milk imports from New Zealand exceeded the figures recorded by the second-largest supplier, Australia (X tons), sixfold. The third position in this ranking was taken by the United States (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and the United States (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of powdered, condensed or evaporated milk to Thailand, comprising X% of total imports. The second position in the ranking was held by Australia ($X), with an X% share of total imports. It was followed by the United States, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from New Zealand amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and the United States (X% per year).

Import Prices by Country

The average import price for powdered, condensed or evaporated milk stood at $X per ton in 2022, increasing by X% against the previous year. In general, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, powdered, condensed or evaporated milk import price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2013 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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