Thailand: Wine Market 2024

Wine Market Size in Thailand

The Thai wine market reduced to $X in 2022, leveling off at the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Wine consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Wine Production in Thailand

In value terms, wine production declined to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by X% against the previous year. Wine production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Wine Exports

Exports from Thailand

In 2022, shipments abroad of wine and grape must increased by X% to X litres, rising for the second consecutive year after two years of decline. Over the period under review, exports saw prominent growth. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, wine exports soared to $X in 2022. In general, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Myanmar (X litres) was the main destination for wine exports from Thailand, with a X% share of total exports. Moreover, wine exports to Myanmar exceeded the volume sent to the second major destination, Cambodia (X litres), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Myanmar stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (X% per year) and Lao People's Democratic Republic (X% per year).

In value terms, Myanmar ($X) remains the key foreign market for wine and grape must exports from Thailand, comprising X% of total exports. The second position in the ranking was held by Cambodia ($X), with an X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Myanmar stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cambodia (X% per year) and Lao People's Democratic Republic (X% per year).

Export Prices by Country

In 2022, the average wine export price amounted to $X per litre, surging by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per litre. From 2020 to 2022, the average export prices remained at a lower figure.

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 Lao People's Democratic Republic ($X per litre), while the average price for exports to Cambodia ($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 Lao People's Democratic Republic (X%), while the prices for the other major destinations experienced a decline.

Wine Imports

Imports into Thailand

In 2022, overseas purchases of wine and grape must were finally on the rise to reach X litres for the first time since 2018, thus ending a three-year declining trend. Over the period under review, total imports indicated a notable expansion from 2012 to 2022: its volume 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. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, wine imports skyrocketed to $X in 2022. In general, imports posted a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Australia (X litres), Italy (X litres) and France (X litres) were the main suppliers of wine imports to Thailand, together accounting for X% of total imports. Chile, South Africa, the United States and New Zealand lagged somewhat behind, together comprising a further X%.

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

In value terms, Australia ($X), France ($X) and Italy ($X) constituted the largest wine suppliers to Thailand, with a combined X% share of total imports. The United States, Chile, New Zealand and South Africa lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, New Zealand, with a CAGR of X%, recorded the highest rates of growth with regard to 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 wine import price stood at $X per litre in 2022, remaining constant against the previous year. Over the period under review, the import price recorded a resilient increase. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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 the United States ($X per litre), while the price for South Africa ($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 (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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