Report Update Apr 1, 2024

Thailand - Olive Oil (Virgin) - Market Analysis, Forecast, Size, Trends and Insights

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Thailand: Virgin Olive Oil Market 2024

Virgin Olive Oil Market Size in Thailand

The Thai virgin olive oil market reduced sharply to $X in 2022, which is down by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a dramatic descent. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Virgin Olive Oil Exports

Exports from Thailand

In 2022, approx. X tons of virgin olive oil were exported from Thailand; rising by X% on 2021 figures. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2019 with an increase of X%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, virgin olive oil exports soared to $X in 2022. Overall, exports recorded a significant expansion. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons) was the main destination for virgin olive oil exports from Thailand, accounting for a X% share of total exports. Moreover, virgin olive oil exports to Vietnam exceeded the volume sent to the second major destination, Bangladesh (X tons), twofold. Hong Kong SAR (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Vietnam stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (X% per year) and Hong Kong SAR (X% per year).

In value terms, Vietnam ($X) emerged as the key foreign market for virgin olive oil exports from Thailand, comprising X% of total exports. The second position in the ranking was held by Bangladesh ($X), with a X% share of total exports. It was followed by Myanmar, with an X% share.

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

Export Prices by Country

In 2022, the average virgin olive oil export price amounted to $X per ton, waning by X% against the previous year. Overall, the export price recorded a mild slump. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

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 Myanmar ($X per ton), while the average price for exports to Bangladesh ($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 Maldives (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Virgin Olive Oil Imports

Imports into Thailand

In 2022, purchases abroad of virgin olive oil decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports continue to indicate a sharp reduction. The most prominent rate of growth was recorded in 2019 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, virgin olive oil imports shrank sharply to $X in 2022. In general, imports faced a sharp shrinkage. The pace of growth was the most pronounced in 2013 when imports increased by X%. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Greece (X tons) and Spain (X tons) were the main suppliers of virgin olive oil imports to Thailand.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Greece (with a CAGR of X%).

In value terms, the largest virgin olive oil suppliers to Thailand were Greece ($X) and Spain ($X).

Among the main suppliers, Greece, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

The average virgin olive oil import price stood at $X per ton in 2022, falling by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 an increase of X%. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Greece ($X per ton), while the price for Spain amounted to $X per ton.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for virgin olive oil in the world?

The countries with the highest volumes of consumption in 2023 were Spain, Italy and Turkey, with a combined 47% share of global consumption.

What are the largest producers of virgin olive oil in the world?

The country with the largest volume of virgin olive oil production was Spain, accounting for 39% of total volume. Moreover, virgin olive oil production in Spain exceeded the figures recorded by the second-largest producer, Tunisia, fourfold. The third position in this ranking was taken by Italy, with a 9.9% share.

What are the leading suppliers of virgin olive oil to Thailand?

In value terms, Greece and Spain appeared to be the largest virgin olive oil suppliers to Thailand.

What are the leading importers of virgin olive oil from Thailand?

In value terms, Vietnam emerged as the key foreign market for virgin olive oil exports from Thailand, comprising 52% of total exports. The second position in the ranking was taken by Bangladesh, with a 17% share of total exports. It was followed by Myanmar, with an 11% share.

What is the average export price for virgin olive oil in Thailand?

The average virgin olive oil export price stood at $3,396 per ton in 2022, reducing by -16.5% against the previous year.

What is the average import price for virgin olive oil in Thailand?

The average virgin olive oil import price stood at $4,299 per ton in 2022, shrinking by -6.3% against the previous year.

This report provides an in-depth analysis of the virgin olive oil market in Thailand. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 261 - Oil of Olives, Virgin

Country coverage:

Thailand

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Thailand
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023