Thailand: Sugary Soft Drink Market 2024

Sugary Soft Drink Market Size in Thailand

The Thai sugary soft drink market shrank to $X in 2022, waning by -3.3% against the previous year. Overall, consumption, however, recorded a slight shrinkage. Sugary soft drink consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Sugary Soft Drink Production in Thailand

In value terms, sugary soft drink production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 43%. Sugary soft drink production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Sugary Soft Drink Exports

Exports from Thailand

In 2022, shipments abroad of sugary soft drinks decreased by -20.2% to X litres, falling for the second consecutive year after three years of growth. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 90% against the previous year. The exports peaked at X litres in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, sugary soft drink exports expanded significantly to $X in 2022. Over the period under review, exports saw a mild downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 33% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cambodia (X litres), Vietnam (X litres) and Myanmar (X litres) were the main destinations of sugary soft drink exports from Thailand, together comprising 78% of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +76.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) emerged as the key foreign market for sugary soft drinks exports from Thailand, comprising 48% of total exports. The second position in the ranking was taken by Cambodia ($X), with a 21% share of total exports. It was followed by Myanmar, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Vietnam totaled +56.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (-9.0% per year) and Myanmar (+49.0% per year).

Export Prices by Country

The average sugary soft drink export price stood at $X per litre in 2022, growing by 32% against the previous year. In general, the export price, however, showed a slight setback. Over the period under review, the average export prices hit record highs at $X per litre in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per litre), while the average price for exports to China ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+2.5%), while the prices for the other major destinations experienced a decline.

Sugary Soft Drink Imports

Imports into Thailand

In 2022, overseas purchases of sugary soft drinks decreased by -41.4% to X litres, falling for the second year in a row after six years of growth. Overall, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 185%. Imports peaked at X litres in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, sugary soft drink imports contracted remarkably to $X in 2022. In general, imports, however, recorded a prominent increase. The growth pace was the most rapid in 2016 with an increase of 298%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Lao People's Democratic Republic (X litres) constituted the largest sugary soft drink supplier to Thailand, with a 75% share of total imports. Moreover, sugary soft drink imports from Lao People's Democratic Republic exceeded the figures recorded by the second-largest supplier, China (X litres), tenfold. The third position in this ranking was held by South Korea (X litres), with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Lao People's Democratic Republic totaled +325.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+148.0% per year) and South Korea (+8.6% per year).

In value terms, Lao People's Democratic Republic ($X) constituted the largest supplier of sugary soft drinks to Thailand, comprising 48% of total imports. The second position in the ranking was held by South Korea ($X), with a 15% share of total imports. It was followed by France, with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Lao People's Democratic Republic stood at +191.5%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+11.8% per year) and France (+16.0% per year).

Import Prices by Country

In 2022, the average sugary soft drink import price amounted to $X per litre, picking up by 39% against the previous year. Over the period under review, the import price, however, recorded a noticeable downturn. The most prominent rate of growth was recorded in 2016 when the average import price increased by 40%. Over the period under review, average import prices hit record highs at $X per litre in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 France ($X per litre), while the price for Lao People's Democratic Republic ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :