Thailand: Vegetable Product Market 2025

Vegetable Product Market Size in Thailand

The Thai vegetable product market declined to $X in 2022, dropping by -7.4% against the previous year. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Vegetable Product Production in Thailand

In value terms, vegetable product production reduced to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 53%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

The average yield of vegetable products in Thailand fell to X tons per ha in 2022, shrinking by -4.3% compared with 2021 figures. Overall, the yield saw a deep contraction. The most prominent rate of growth was recorded in 2018 when the yield increased by 14% against the previous year. Over the period under review, the average vegetable product yield hit record highs at X tons per ha in 2012; however, from 2013 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of vegetable products in Thailand rose rapidly to X ha, growing by 11% against 2021. The harvested area increased at an average annual rate of +2.6% 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 with an increase of 28%. The vegetable product harvested area peaked at X ha in 2019; however, from 2020 to 2022, the harvested area stood at a somewhat lower figure.

Vegetable Product Exports

Exports from Thailand

In 2022, approx. X tons of vegetable products were exported from Thailand; which is down by -16.3% against the previous year. Overall, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 230% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, vegetable product exports surged to $X in 2022. Over the period under review, total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 +84.1% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Myanmar (X tons) was the main destination for vegetable product exports from Thailand, accounting for a 52% share of total exports. Moreover, vegetable product exports to Myanmar exceeded the volume sent to the second major destination, China (X tons), twofold. Japan (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to Myanmar stood at +92.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+4.4% per year) and Japan (+31.0% per year).

In value terms, Japan ($X) remains the key foreign market for vegetable products exports from Thailand, comprising 53% of total exports. The second position in the ranking was held by Myanmar ($X), with a 25% share of total exports. It was followed by China, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan stood at +20.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+51.4% per year) and China (+1.5% per year).

Export Prices by Country

The average vegetable product export price stood at $X per ton in 2022, picking up by 65% against the previous year. Over the period under review, the export price, however, recorded a deep downturn. The pace of growth was the most pronounced in 2020 an increase of 94%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to China ($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 Lao People's Democratic Republic (+10.1%), while the prices for the other major destinations experienced a decline.

Vegetable Product Imports

Imports into Thailand

In 2022, after two years of growth, there was significant decline in purchases abroad of vegetable products, when their volume decreased by -13.7% to X tons. Overall, imports continue to indicate a noticeable contraction. The pace of growth was the most pronounced in 2020 when imports increased by 39%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, vegetable product imports dropped rapidly to $X in 2022. In general, imports showed a slight slump. The most prominent rate of growth was recorded in 2014 when imports increased by 31% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Lao People's Democratic Republic (X tons) constituted the largest supplier of vegetable product to Thailand, accounting for a 58% share of total imports. Moreover, vegetable product imports from Lao People's Democratic Republic exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Italy (X tons) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume from Lao People's Democratic Republic amounted to +3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-8.7% per year) and Italy (+26.1% per year).

In value terms, China ($X) constituted the largest supplier of vegetable products to Thailand, comprising 55% of total imports. The second position in the ranking was held by Vietnam ($X), with a 16% share of total imports. It was followed by Lao People's Democratic Republic, with a 16% share.

From 2012 to 2022, the average annual growth rate of value from China totaled -2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+48.3% per year) and Lao People's Democratic Republic (+3.8% per year).

Import Prices by Country

In 2022, the average vegetable product import price amounted to $X per ton, declining by -2.8% against the previous year. Overall, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable product import price decreased by -26.3% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the average import price increased by 50% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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