Thailand: Market for Spirits, Liqueurs And Other Spirituous Beverages 2024

Market Size for Spirits, Liqueurs And Other Spirituous Beverages in Thailand

The Thai market for spirits, liqueurs and other spirituous beverages rose to $X in 2022, growing by 2.8% against the previous year. In general, consumption, however, showed a remarkable increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Spirits, Liqueurs And Other Spirituous Beverages in Thailand

In value terms, production of spirits, liqueurs and other spirituous beverages rose to $X in 2022 estimated in export price. Overall, production, however, recorded prominent growth. The pace of growth appeared the most rapid in 2018 with an increase of 29%. Production of peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Spirits, Liqueurs And Other Spirituous Beverages

Exports from Thailand

In 2022, the amount of spirits, liqueurs and other spirituous beverages exported from Thailand totaled X litres, increasing by 5.2% on the previous year. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 39%. As a result, the exports attained the peak of X litres. From 2020 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of spirits, liqueurs and other spirituous beverages soared to $X in 2022. Over the period under review, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 when exports increased by 79%. Over the period under review, the exports of attained the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X litres) was the main destination for exports of spirits, liqueurs and other spirituous beverages from Thailand, with a 43% share of total exports. Moreover, exports of spirits, liqueurs and other spirituous beverages to Japan exceeded the volume sent to the second major destination, Myanmar (X litres), twofold. The third position in this ranking was taken by Singapore (X litres), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to -4.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+255.6% per year) and Singapore (+25.1% per year).

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for spirits, liqueurs and other spirituous beverages exports from Thailand, comprising 37% of total exports. The second position in the ranking was held by Myanmar ($X), with a 15% share of total exports. It was followed by Singapore, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR totaled +83.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+352.8% per year) and Singapore (+31.6% per year).

Export Prices by Country

In 2022, the average export price for spirits, liqueurs and other spirituous beverages amounted to $X per litre, jumping by 37% against the previous year. Overall, the export price showed a buoyant expansion. The growth pace was the most rapid in 2017 an increase of 60% against the previous year. Over the period under review, the average export prices reached the maximum at $X per litre in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per litre), while the average price for exports to Japan ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+27.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Spirits, Liqueurs And Other Spirituous Beverages

Imports into Thailand

After three years of decline, purchases abroad of spirits, liqueurs and other spirituous beverages increased by 21% to X litres in 2022. Overall, total imports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 47% against the previous year. As a result, imports attained the peak of X litres. From 2015 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of spirits, liqueurs and other spirituous beverages surged to $X in 2022. In general, imports recorded buoyant growth. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

South Korea (X litres), Vietnam (X litres) and China (X litres) were the main suppliers of imports of spirits, liqueurs and other spirituous beverages to Thailand, with a combined 49% share of total imports. These countries were followed by Japan, the UK, India, Australia, Germany, Sweden, the United States, Belgium, Italy and France, which together accounted for a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +32.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of spirits, liqueurs and other spirituous beverages to Thailand, comprising 53% of total imports. The second position in the ranking was taken by Germany ($X), with a 6.1% share of total imports. It was followed by South Korea, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +19.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+21.3% per year) and South Korea (+18.7% per year).

Import Prices by Country

In 2022, the average import price for spirits, liqueurs and other spirituous beverages amounted to $X per litre, picking up by 28% against the previous year. Overall, import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +7.0% 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 2019 an increase of 31%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

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 China ($X per litre), while the price for India ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform