Thailand: Cheese Market 2024

Cheese Market Size in Thailand

For the third year in a row, the Thai cheese market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, the total consumption indicated strong growth 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, consumption increased by X% against 2019 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Cheese Production in Thailand

In value terms, cheese production reached $X in 2022 estimated in export price. Overall, production showed a perceptible descent. The growth pace was the most rapid in 2015 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Cheese Exports

Exports from Thailand

In 2022, approx. X tons of cheese were exported from Thailand; increasing by X% compared with the previous year. Over the period under review, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cheese exports surged to $X in 2022. In general, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Cambodia (X tons) was the main destination for cheese exports from Thailand, accounting for a X% share of total exports. Moreover, cheese exports to Cambodia exceeded the volume sent to the second major destination, China (X tons), sevenfold. The third position in this ranking was held by Japan (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Cambodia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Japan (X% per year).

In value terms, Cambodia ($X) remains the key foreign market for cheese exports from Thailand, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Cambodia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and China (X% per year).

Export Prices by Country

The average cheese export price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average export price increased by X%. The export price peaked at $X per ton in 2015; however, from 2016 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 Japan ($X per ton), while the average price for exports to Singapore ($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 Japan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Cheese Imports

Imports into Thailand

In 2022, approx. X tons of cheese were imported into Thailand; picking up by X% compared with 2021 figures. Over the period under review, imports enjoyed a resilient expansion. The growth pace was the most rapid in 2016 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, cheese imports skyrocketed to $X in 2022. In general, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

New Zealand (X tons), Australia (X tons) and the United States (X tons) were the main suppliers of cheese imports to Thailand, with a combined X% share of total imports. Belgium, Italy, Germany and France lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest cheese suppliers to Thailand were New Zealand ($X), Australia ($X) and the United States ($X), together accounting for X% of total imports. Italy, France, Belgium and Germany lagged somewhat behind, together comprising a further X%.

Belgium, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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 cheese import price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a 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 France ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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