Thailand: Market for Yoghurt and Fermented Milk 2024

Market Size for Yoghurt and Fermented Milk in Thailand

The Thai yoghurt and fermented milk market dropped to $X in 2022, reducing by X% against the previous year. Over the period under review, consumption showed a noticeable contraction. Yoghurt and fermented milk consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Yoghurt and Fermented Milk in Thailand

In value terms, yoghurt and fermented milk production fell to $X in 2022 estimated in export price. In general, production recorded a deep slump. The growth pace was the most rapid in 2021 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Exports of Yoghurt and Fermented Milk

Exports from Thailand

In 2022, approx. X tons of yoghurt and fermented milk were exported from Thailand; picking up by X% compared with the previous year. Over the period under review, exports showed a buoyant expansion. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, yoghurt and fermented milk exports skyrocketed to $X in 2022. Overall, total exports indicated strong 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. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The Philippines (X tons) was the main destination for yoghurt and fermented milk exports from Thailand, accounting for a X% share of total exports. Moreover, yoghurt and fermented milk exports to the Philippines exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), fivefold. The third position in this ranking was held by Cambodia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the Philippines stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (X% per year) and Cambodia (X% per year).

In value terms, the Philippines ($X) remains the key foreign market for yoghurt and fermented milk exports from Thailand, comprising X% of total exports. The second position in the ranking was held by Lao People's Democratic Republic ($X), with a X% share of total exports. It was followed by Cambodia, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Philippines amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (X% per year) and Cambodia (X% per year).

Export Prices by Country

In 2022, the average yoghurt and fermented milk export price amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price continues to indicate a slight setback. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to the Philippines ($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 Singapore (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Yoghurt and Fermented Milk

Imports into Thailand

In 2022, imports of yoghurt and fermented milk into Thailand contracted markedly to X tons, waning by X% on the year before. In general, imports continue to indicate a noticeable decline. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, yoghurt and fermented milk imports reduced to $X in 2022. Overall, imports recorded a slight decrease. The growth pace was the most rapid in 2014 with an increase of X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest supplier of yoghurt and fermented milk to Thailand, with a X% share of total imports. Moreover, yoghurt and fermented milk imports from New Zealand exceeded the figures recorded by the second-largest supplier, Australia (X tons), sevenfold. The third position in this ranking was taken by the United States (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and the United States (X% per year).

In value terms, New Zealand ($X) constituted the largest supplier of yoghurt and fermented milk to Thailand, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total imports. It was followed by Australia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from New Zealand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Australia (X% per year).

Import Prices by Country

The average yoghurt and fermented milk import price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price continues to indicate measured growth. The pace of growth appeared the most rapid in 2020 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were New Zealand ($X per ton) and France ($X per ton), while the price for the United States ($X per ton) and Finland ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :