The UK's pet food exports to Thailand demonstrated significant growth and variability from 2013 to 2023, with an occasional dip in values. By 2023, exports stood at 1100 thousand US dollars, reflecting a dynamic upward trend. The last two years saw an increase of 23.04% year-on-year in 2023 and a 31.09% increase in 2022. This indicates a robust growth trajectory. The compound annual growth rate (CAGR) over the past five years (2019-2023) was a substantial 31.66%.
Future trends to watch for:
- The forecast for the next five years (2024-2028) suggests continued growth, with an expected CAGR of 8.45%, and an overall growth rate of 50% by 2028.
- Potential factors influencing future trends include changes in trade policies, fluctuations in demand, and shifts in consumer preferences in Thailand's pet food market.
