The import of milk and cream to Thailand has shown a fluctuating trend over the past decade, with values moving from $4.9379 million in 2013 to $12.655 million in 2023. Notably, 2023 saw a modest year-on-year increase of 4.77%, a slower growth compared to the 11.06% of 2021. The average annual growth rate (CAGR) over the last five years stood at 3.85%. For the future, a CAGR of 3.08% is forecasted from 2023 to 2028, resulting in a projected import value of $15.376 million by 2028, indicating sustained albeit slower growth.
Future Trends to Watch For:
- Potential policy changes affecting dairy imports in Thailand.
- Impact of domestic dairy production on import levels.
- Shifts in consumer preferences and dietary trends towards non-dairy alternatives.
- Economic factors affecting spending power and dairy consumption.
