Thailand: Vegetable Puree Market 2024

Vegetable Puree Market Size in Thailand

The Thai vegetable puree market totaled $X in 2022, increasing by 14% against the previous year. In general, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +124.4% against 2014 indices. Vegetable puree consumption peaked in 2022 and is likely to see gradual growth in years to come.

Vegetable Puree Production in Thailand

In value terms, vegetable puree production expanded notably to $X in 2022 estimated in export price. Overall, the total production indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.6% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by 29%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Vegetable Puree Exports

Exports from Thailand

Vegetable puree exports from Thailand plummeted to X tons in 2022, which is down by -55.7% on the year before. Overall, exports showed a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of 52%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, vegetable puree exports dropped dramatically to $X in 2022. Over the period under review, exports saw a deep downturn. The growth pace was the most rapid in 2014 when exports increased by 23%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons), Australia (X tons) and Malaysia (X tons) were the main destinations of vegetable puree exports from Thailand, together comprising 71% of total exports. Singapore, Taiwan (Chinese), Israel, the UK, Canada and Hong Kong SAR lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +39.3%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for vegetable puree exports from Thailand, comprising 62% of total exports. The second position in the ranking was held by Australia ($X), with a 19% share of total exports. It was followed by Singapore, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled -3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (-8.4% per year) and Singapore (+14.8% per year).

Export Prices by Country

The average vegetable puree export price stood at $X per ton in 2022, rising by 18% against the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vegetable puree export price increased by +108.7% against 2015 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 32% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

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 Canada ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Hong Kong SAR (+19.3%), while the prices for the other major destinations experienced more modest paces of growth.

Vegetable Puree Imports

Imports into Thailand

Vegetable puree imports into Thailand dropped to X tons in 2022, therefore, remained relatively stable against 2021 figures. Overall, imports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of 212% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, vegetable puree imports skyrocketed to $X in 2022. In general, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2013 when imports increased by 251% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Sweden (X tons) constituted the largest supplier of vegetable puree to Thailand, with a 85% share of total imports. Moreover, vegetable puree imports from Sweden exceeded the figures recorded by the second-largest supplier, Australia (X tons), sevenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Sweden amounted to +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-20.9% per year) and the United States (-21.3% per year).

In value terms, Sweden ($X) constituted the largest supplier of vegetable puree to Thailand, comprising 81% of total imports. The second position in the ranking was taken by Australia ($X), with a 10% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Sweden amounted to +14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (-20.9% per year) and the United States (-13.9% per year).

Import Prices by Country

In 2022, the average vegetable puree import price amounted to $X per ton, increasing by 23% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 211% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform

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