Thailand: Sauce And Seasoning Market 2024

Sauce And Seasoning Market Size in Thailand

In 2023, the Thai sauce and seasoning market decreased by X% to $X, falling for the fourth consecutive year after three years of growth. Over the period under review, consumption continues to indicate a mild decline. As a result, consumption reached the peak level of $X. From 2020 to 2023, the growth of the market failed to regain momentum.

Sauce And Seasoning Production in Thailand

In value terms, sauce and seasoning production stood at $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2023, production growth failed to regain momentum.

Sauce And Seasoning Exports

Exports from Thailand

In 2023, exports of sauces and seasonings from Thailand expanded slightly to X tons, growing by X% compared with the previous year. In general, total exports indicated a strong expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports reached the maximum in 2023 and are expected to retain growth in years to come.

In value terms, sauce and seasoning exports totaled $X in 2023. Over the period under review, total exports indicated resilient growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2014 indices. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The exports peaked in 2023 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons), Cambodia (X tons) and the Philippines (X tons) were the main destinations of sauce and seasoning exports from Thailand, with a combined X% share of total exports. Australia, Lao People's Democratic Republic, Malaysia, Myanmar, the Netherlands, Japan, the UK, Germany, China and South Korea lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Malaysia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Australia ($X) and the Philippines ($X) appeared to be the largest markets for sauce and seasoning exported from Thailand worldwide, with a combined X% share of total exports. Japan, the Netherlands, Malaysia, Cambodia, the UK, Germany, Myanmar, Lao People's Democratic Republic, China and South Korea lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, China, with a CAGR of X%, 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 sauce and seasoning export price stood at $X per ton in 2023, surging by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 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 2020 to 2023, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Sauce And Seasoning Imports

Imports into Thailand

In 2023, supplies from abroad of sauces and seasonings decreased by X% to X tons, falling for the second year in a row after ten years of growth. In general, imports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, sauce and seasoning imports reduced to $X in 2023. Over the period under review, total imports indicated a tangible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The growth pace was the most rapid in 2018 with an increase of X%. Imports peaked at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, China (X tons) constituted the largest supplier of sauce and seasoning to Thailand, with a X% share of total imports. Moreover, sauce and seasoning imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), fourfold. The third position in this ranking was taken by Singapore (X tons), with an X% share.

From 2012 to 2023, the average annual growth rate of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Singapore (X% per year).

In value terms, the largest sauce and seasoning suppliers to Thailand were Japan ($X), China ($X) and Singapore ($X), together accounting for X% of total imports. Malaysia, South Korea, Indonesia, Vietnam and Myanmar lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Myanmar, with a CAGR of X%, recorded 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

In 2023, the average sauce and seasoning import price amounted to $X per ton, rising by X% against the previous year. In general, the import price, however, recorded a abrupt descent. The pace of growth appeared the most rapid in 2022 an increase of X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform