Thailand: Vinegar-Preserved Vegetable Market 2024

Vinegar-Preserved Vegetable Market Size in Thailand

The Thai vinegar-preserved vegetable market amounted to $X in 2022, with an increase of 2.5% against the previous year. Overall, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.4% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Vinegar-Preserved Vegetable Production in Thailand

In value terms, vinegar-preserved vegetable production shrank to $X in 2022 estimated in export price. Over the period under review, the total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% 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 -3.5% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 33% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Vinegar-Preserved Vegetable Exports

Exports from Thailand

Vinegar-preserved vegetable exports from Thailand fell sharply to X tons in 2022, which is down by -33% compared with the year before. Overall, exports recorded a perceptible downturn. The growth pace was the most rapid in 2018 with an increase of 24% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, vinegar-preserved vegetable exports reduced notably to $X in 2022. In general, exports showed a pronounced reduction. The growth pace was the most rapid in 2014 with an increase of 29%. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for vinegar-preserved vegetable exports from Thailand, accounting for a 34% share of total exports. Moreover, vinegar-preserved vegetable exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was held by Taiwan (Chinese) (X tons), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan stood at -6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+0.2% per year) and Taiwan (Chinese) (+51.6% per year).

In value terms, Japan ($X) remains the key foreign market for vegetables in vinegar other than potatoes exports from Thailand, comprising 40% of total exports. The second position in the ranking was taken by the United States ($X), with a 14% share of total exports. It was followed by Taiwan (Chinese), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan stood at -4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+1.3% per year) and Taiwan (Chinese) (+43.1% per year).

Export Prices by Country

The average vinegar-preserved vegetable export price stood at $X per ton in 2022, rising by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2019 when the average export price increased by 25%. The export price peaked at $X per ton in 2014; afterwards, it flattened through to 2022.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Singapore ($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 Netherlands (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Vinegar-Preserved Vegetable Imports

Imports into Thailand

In 2022, overseas purchases of vegetables in vinegar other than potatoes increased by 37% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by 59%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, vinegar-preserved vegetable imports skyrocketed to $X in 2022. In general, total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Bulgaria (X tons), China (X tons) and Italy (X tons) were the main suppliers of vinegar-preserved vegetable imports to Thailand, with a combined 85% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +42.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Bulgaria ($X), Italy ($X) and China ($X) appeared to be the largest vinegar-preserved vegetable suppliers to Thailand, together comprising 84% of total imports.

Bulgaria, with a CAGR of +48.4%, recorded the highest growth rate of 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

The average vinegar-preserved vegetable import price stood at $X per ton in 2022, jumping by 20% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 31% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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