Thailand: Canned Vegetable Market 2024

Canned Vegetable Market Size in Thailand

The Thai canned vegetable market skyrocketed to $X in 2022, rising by 46% against the previous year. Overall, consumption, however, showed a perceptible setback. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Canned Vegetable Production in Thailand

In value terms, canned vegetable production shrank slightly to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 13%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

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Canned Vegetable Exports

Exports from Thailand

In 2022, the amount of canned vegetables exported from Thailand declined to X tons, reducing by -6% on the previous year. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when exports increased by 11% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, canned vegetable exports shrank to $X in 2022. The total export value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when exports increased by 9.7%. The exports peaked at $X in 2021, and then shrank slightly in the following year.

Exports by Country

Japan (X tons), South Korea (X tons) and the United States (X tons) were the main destinations of canned vegetable exports from Thailand, together comprising 44% of total exports. The Philippines, Taiwan (Chinese), Australia, the UK, Hong Kong SAR, Malaysia, Saudi Arabia, Singapore, the Netherlands and Canada lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +9.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for canned vegetable exported from Thailand were Japan ($X), the United States ($X) and South Korea ($X), together accounting for 44% of total exports. Australia, the Philippines, Taiwan (Chinese), the UK, Hong Kong SAR, Malaysia, Saudi Arabia, Canada, the Netherlands and Singapore lagged somewhat behind, together accounting for a further 35%.

Among the main countries of destination, the Philippines, with a CAGR of +9.3%, saw the highest growth rate of 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

The average canned vegetable export price stood at $X per ton in 2022, picking up by 2.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2019 when the average export price increased by 14% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to South Korea ($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 (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Canned Vegetable Imports

Imports into Thailand

After two years of growth, supplies from abroad of canned vegetables decreased by -9.2% to X tons in 2022. The total import volume increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 22%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, canned vegetable imports shrank to $X in 2022. In general, imports showed a deep reduction. The growth pace was the most rapid in 2021 with an increase of 33%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of canned vegetable to Thailand, with a 35% share of total imports. Moreover, canned vegetable imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The Netherlands (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+14.2% per year) and the Netherlands (-4.5% per year).

In value terms, China ($X) constituted the largest supplier of canned vegetables to Thailand, comprising 27% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 12% share of total imports. It was followed by Vietnam, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +18.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-1.6% per year) and Vietnam (+198.2% per year).

Import Prices by Country

The average canned vegetable import price stood at $X per ton in 2022, dropping by -4.7% against the previous year. Overall, the import price recorded a drastic downturn. The growth pace was the most rapid in 2021 an increase of 18% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 Australia ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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