Thailand: Chocolate Market 2024

Chocolate Market Size in Thailand

The Thai chocolate market declined to $X in 2022, reducing by X% against the previous year. The market value 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. Chocolate consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Chocolate Production in Thailand

In value terms, chocolate production reduced to $X in 2022 estimated in export price. The total output value 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 in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Chocolate Exports

Exports from Thailand

In 2022, overseas shipments of chocolate and other food preparations containing cocoa increased by X% to X tons, rising for the third year in a row after two years of decline. In general, exports saw a significant expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, chocolate exports surged to $X in 2022. Overall, exports saw prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Japan (X tons), China (X tons) and Myanmar (X tons) were the main destinations of chocolate exports from Thailand, with a combined X% share 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 Japan (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chocolate exported from Thailand were Myanmar ($X), Japan ($X) and China ($X), together comprising X% of total exports.

In terms of the main countries of destination, Japan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, 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 chocolate export price amounted to $X per ton, declining by X% against the previous year. In general, the export price saw a deep setback. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, the average export prices hit record highs 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 Singapore ($X per ton), while the average price for exports to the United Arab Emirates ($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 Myanmar (X%), while the prices for the other major destinations experienced a decline.

Chocolate Imports

Imports into Thailand

In 2022, the amount of chocolate and other food preparations containing cocoa imported into Thailand expanded markedly to X tons, surging by X% compared with 2021 figures. 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 in certain years. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, chocolate imports surged to $X in 2022. Overall, total imports indicated a pronounced 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 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Singapore (X tons), Malaysia (X tons) and Indonesia (X tons) were the main suppliers of chocolate imports to Thailand, with a combined X% share of total imports.

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

In value terms, the largest chocolate suppliers to Thailand were Singapore ($X), Malaysia ($X) and Belgium ($X), with a combined X% share of total imports.

Malaysia, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of 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, jumping by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Indonesia ($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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