Thailand: Soups Market 2024

Soups Market Size in Thailand

The Thai soups market reached $X in 2022, approximately reflecting the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Soups Production in Thailand

In value terms, soups production declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of X%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

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Soups Exports

Exports from Thailand

In 2022, approx. X tons of soups and broths were exported from Thailand; declining by X% compared with the previous year. In general, total exports indicated a perceptible expansion from 2012 to 2022: its volume 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, exports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, soups exports declined to $X in 2022. Over the period under review, total exports indicated prominent 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, exports increased by X% against 2018 indices. 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 attained the peak figure at $X in 2021, and then shrank in the following year.

Exports by Country

Australia (X tons), Japan (X tons) and the United States (X tons) were the main destinations of soups exports from Thailand, together accounting for X% of total exports. The Philippines, Taiwan (Chinese), Malaysia, Myanmar, Hong Kong SAR, Lao People's Democratic Republic, France, the Netherlands, Cambodia and Singapore lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

In terms of the main countries of destination, Myanmar, with a CAGR of X%, saw 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 soups export price amounted to $X per ton, flattening at the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then contracted in the following year.

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 ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Soups Imports

Imports into Thailand

In 2022, the amount of soups and broths imported into Thailand rose rapidly to X tons, picking up by X% on the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, soups imports declined modestly to $X in 2022. In general, total imports indicated pronounced 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, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Canada (X tons) constituted the largest supplier of soups to Thailand, with a X% share of total imports. Moreover, soups imports from Canada exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by Japan (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Canada amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Japan (X% per year).

In value terms, Canada ($X), Japan ($X) and China ($X) constituted the largest soups suppliers to Thailand, with a combined X% share of total imports. Brazil, Australia, the United States, Germany and Malaysia lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Germany, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average soups import price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton, and then fell in the following year.

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 ($X per ton), while the price for Germany ($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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