Thailand: Chocolate Market 2024

Chocolate Market Size in Thailand

The Thai chocolate market dropped to $X in 2022, falling by X% against the previous year. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Chocolate Production in Thailand

In value terms, chocolate production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

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Chocolate Exports

Exports from Thailand

In 2022, chocolate exports from Thailand soared to X tons, with an increase of X% compared with 2021 figures. In general, exports saw a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, chocolate exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed prominent growth. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

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

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

In value terms, Japan ($X) remains the key foreign market for chocolate and cocoa products exports from Thailand, comprising X% of total exports. The second position in the ranking was held by Myanmar ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

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

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, picking up by X% against the previous year. Overall, the export price, however, continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 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 Myanmar ($X per ton), while the average price for exports to Japan ($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 Malaysia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Chocolate Imports

Imports into Thailand

In 2022, chocolate imports into Thailand soared to X tons, with an increase of X% on the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, chocolate imports surged to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia (X tons), Singapore (X tons) and Indonesia (X tons) were the main suppliers of chocolate imports to Thailand, with a combined X% share of total imports. China, the United States, Belgium, Australia, the Philippines, Italy, Germany, Chile, Switzerland 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 Chile (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), the United States ($X) and China ($X) constituted the largest chocolate suppliers to Thailand, with a combined X% share of total imports. Indonesia, Singapore, Italy, Australia, Germany, Switzerland, Belgium, France, Chile and the Philippines lagged somewhat behind, together comprising a further X%.

Chile, 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

In 2022, the average chocolate import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue 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 the United States ($X per ton), while the price for the Philippines ($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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