Thailand: Malt Market 2024

Malt Market Size in Thailand

The Thai malt market was finally on the rise to reach $X in 2023, after two years of decline. In general, consumption, however, showed a relatively flat trend pattern. Malt consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Malt Production in Thailand

In value terms, malt production declined slightly to $X in 2023 estimated in export price. Overall, production showed a mild contraction. The growth pace was the most rapid in 2014 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Malt Exports

Exports from Thailand

In 2023, overseas shipments of malt (not roasted) decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by X,300%. Over the period under review, the exports hit record highs at X tons in 2022, and then dropped sharply in the following year.

In value terms, malt exports reduced rapidly to $X in 2023. Over the period under review, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2014 with an increase of X,667%. The exports peaked at $X in 2022, and then declined rapidly in the following year.

Exports by Country

Bahrain (X tons) and Lao People's Democratic Republic (X tons) were the main destinations of malt exports from Thailand.

From 2013 to 2023, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of X%).

In value terms, Lao People's Democratic Republic ($X) emerged as the key foreign market for malt (not roasted) exports from Thailand, comprising X% of total exports. The second position in the ranking was taken by Bahrain ($X), with a X% share of total exports.

From 2013 to 2023, the average annual rate of growth in terms of value to Lao People's Democratic Republic stood at X%.

Export Prices by Country

In 2023, the average malt export price amounted to $X per ton, waning by X% against the previous year. Overall, the export price faced a dramatic curtailment. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined remarkably in the following year.

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

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Lao People's Democratic Republic (X%).

Malt Imports

Imports into Thailand

In 2023, malt imports into Thailand soared to X tons, rising by X% against the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Imports peaked at X tons in 2017; however, from 2018 to 2023, imports failed to regain momentum.

In value terms, malt imports skyrocketed to $X in 2023. Overall, total imports indicated perceptible growth 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 increased by X% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Australia (X tons) and Germany (X tons) were the main suppliers of malt imports to Thailand, together comprising X% of total imports. The Netherlands, the UK, France, Belgium and Denmark lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for the Netherlands (with a CAGR of X.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Australia ($X) and Germany ($X) were the largest malt suppliers to Thailand, together accounting for X% of total imports. The UK, the Netherlands, France, Belgium and Denmark lagged somewhat behind, together comprising a further X%.

The Netherlands, with a CAGR of X.3%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average malt import price stood at $X per ton in 2023, rising by X% against the previous year. In general, import price indicated a temperate increase from 2012 to 2023: its price 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, malt import price increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2022 an increase of X%. Over the period under review, average import prices reached the peak figure in 2023 and is likely to see steady growth in the near future.

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 the UK ($X per ton), while the price for Denmark ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform