Thailand: Sweet Biscuit Market 2024

Sweet Biscuit Market Size in Thailand

The Thai sweet biscuit market contracted to $X in 2021, almost unchanged from the previous year. Over the period under review, consumption, however, showed a slight decline. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Sweet Biscuit Production in Thailand

In value terms, sweet biscuit production dropped to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 11%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Sweet Biscuit Exports

Exports from Thailand

In 2021, sweet biscuit exports from Thailand surged to X tons, rising by 19% on the previous year. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 58%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, sweet biscuit exports soared to $X in 2021. In general, exports enjoyed prominent growth. The growth pace was the most rapid in 2013 with an increase of 74% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the near future.

Exports by Country

The United States (X tons), Indonesia (X tons) and Cambodia (X tons) were the main destinations of sweet biscuit exports from Thailand, with a combined 49% share of total exports. These countries were followed by Malaysia, Lao People's Democratic Republic, Taiwan (Chinese), Vietnam, China, Hong Kong SAR and Singapore, which together accounted for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lao People's Democratic Republic (with a CAGR of +54.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for sweet biscuit exported from Thailand were the United States ($X), Indonesia ($X) and Taiwan (Chinese) ($X), with a combined 54% share of total exports. Malaysia, Cambodia, Vietnam, Lao People's Democratic Republic, China, Hong Kong SAR and Singapore lagged somewhat behind, together accounting for a further 31%.

Lao People's Democratic Republic, with a CAGR of +46.2%, recorded 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 sweet biscuit export price amounted to $X per ton, surging by 1.9% against the previous year. Over the period under review, the export price, however, saw a pronounced curtailment. The growth pace was the most rapid in 2020 when the average export price increased by 10%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Cambodia ($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 Hong Kong SAR (+0.7%), while the prices for the other major destinations experienced a decline.

Sweet Biscuit Imports

Imports into Thailand

Sweet biscuit imports into Thailand soared to X tons in 2021, rising by 22% compared with the previous year. Overall, total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +75.2% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 44%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, sweet biscuit imports surged to $X in 2021. Over the period under review, total imports indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +41.7% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 20% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest sweet biscuit supplier to Thailand, with a 62% share of total imports. Moreover, sweet biscuit imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Indonesia stood at +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+6.1% per year) and China (-0.4% per year).

In value terms, Indonesia ($X) constituted the largest supplier of sweet biscuits to Thailand, comprising 47% of total imports. The second position in the ranking was held by Malaysia ($X), with a 21% share of total imports. It was followed by China, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Indonesia totaled +3.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+5.6% per year) and China (-4.7% per year).

Import Prices by Country

The average sweet biscuit import price stood at $X per ton in 2021, reducing by -2.6% against the previous year. Overall, the import price saw a noticeable slump. The pace of growth appeared the most rapid in 2019 when the average import price increased by 20% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+5.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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