Thailand: Vinegar Market 2024

Vinegar Market Size in Thailand

The Thai vinegar market shrank slightly to $X in 2022, standing approx. at the previous year. In general, consumption, however, saw a relatively flat trend pattern. Vinegar consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Vinegar Production in Thailand

In value terms, vinegar production reduced modestly to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X%. Vinegar production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Vinegar Exports

Exports from Thailand

For the third consecutive year, Thailand recorded growth in shipments abroad of vinegar, which increased by X% to X tons in 2022. Overall, exports posted significant growth. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, vinegar exports fell to $X in 2022. Over the period under review, exports showed a prominent increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The exports peaked at $X in 2021, and then declined in the following year.

Exports by Country

Myanmar (X tons), Cambodia (X tons) and Lao People's Democratic Republic (X tons) were the main destinations of vinegar exports from Thailand, together accounting for X% of total exports.

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

In value terms, Myanmar ($X), Cambodia ($X) and Lao People's Democratic Republic ($X) were the largest markets for vinegar exported from Thailand worldwide, with a combined X% share of total exports.

Myanmar, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the average vinegar export price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2019 an increase of X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Myanmar ($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 Australia (X%), while the prices for the other major destinations experienced a decline.

Vinegar Imports

Imports into Thailand

In 2022, purchases abroad of vinegar was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports showed a perceptible increase. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, vinegar imports rose remarkably to $X in 2022. Overall, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Japan (X tons) constituted the largest supplier of vinegar to Thailand, accounting for a X% share of total imports. Moreover, vinegar imports from Japan exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. The United States (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Japan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (X% per year) and the United States (X% per year).

In value terms, Japan ($X), the United States ($X) and Spain ($X) constituted the largest vinegar suppliers to Thailand, with a combined X% share of total imports.

Among the main suppliers, Spain, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average vinegar import price stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, vinegar import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Japan ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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