Thailand: Tomato Ketchup Market 2024

Tomato Ketchup Market Size in Thailand

The Thai tomato ketchup market expanded modestly to $X in 2022, picking up by 2.4% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Tomato Ketchup Production in Thailand

In value terms, tomato ketchup production rose modestly to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 24%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Tomato Ketchup Exports

Exports from Thailand

In 2022, approx. X tons of tomato ketchup and tomato sauces were exported from Thailand; growing by 17% against 2021 figures. Over the period under review, total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -2.2% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 34% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, tomato ketchup exports amounted to $X in 2022. Overall, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +7.9% against 2017 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 38% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Japan (X tons), Cambodia (X tons) and Vietnam (X tons) were the main destinations of tomato ketchup exports from Thailand, with a combined 62% share of total exports. Lao People's Democratic Republic, Myanmar, Singapore, Taiwan (Chinese), Malaysia, Russia and the United States lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +36.1%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Cambodia ($X) and Vietnam ($X) were the largest markets for tomato ketchup exported from Thailand worldwide, with a combined 62% share of total exports. Myanmar, Lao People's Democratic Republic, Singapore, Taiwan (Chinese), the United States, Russia and Malaysia lagged somewhat behind, together accounting for a further 27%.

Russia, with a CAGR of +31.8%, 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

The average tomato ketchup export price stood at $X per ton in 2022, with a decrease of -8% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 30% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained 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 the United States ($X per ton), while the average price for exports to Lao People's Democratic Republic ($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 the United States (+7.3%), while the prices for the other major destinations experienced more modest paces of growth.

Tomato Ketchup Imports

Imports into Thailand

In 2022, purchases abroad of tomato ketchup and tomato sauces was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, showed a deep setback. The growth pace was the most rapid in 2015 when imports increased by 38% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, tomato ketchup imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +1.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 with an increase of 31% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Italy (X tons) and Australia (X tons) were the main suppliers of tomato ketchup imports to Thailand, together comprising 58% of total imports. Malaysia, Japan, the United States and India lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +37.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Australia ($X) and Italy ($X) constituted the largest tomato ketchup suppliers to Thailand, together comprising 58% of total imports. China, the United States, Japan and India lagged somewhat behind, together accounting for a further 25%.

India, with a CAGR of +26.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tomato ketchup import price amounted to $X per ton, surging by 10% against the previous year. In general, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tomato ketchup import price increased by +67.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 27% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

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 Malaysia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :