The export value of whiskies from Thailand has shown a fluctuating trend over the past decade. From 2013 to 2020, the market experienced various ups and downs, with significant growth in years like 2014 and 2018, where year-on-year increases were 31.36% and 30.19% respectively. However, some years such as 2015 and 2020 saw contractions, with negative year-on-year variations of -9.17% and -1.34% respectively. Notably, from 2021 onwards, a steady positive growth trend is observed, reaching $103.9 million USD in 2023, representing a year-on-year increase of 3.26% that year. The compound annual growth rate (CAGR) from 2019 to 2023 averaged at 2.7%.
Looking ahead, forecast data from 2024 to 2028 suggests moderate but consistent growth. By 2028, the value of whisky exports is anticipated to reach $121.04 million USD, with a forecasted 5-year CAGR of 2.4% from 2023 to 2028, indicating a stable yet gradual increase.
Future trends to watch for:
- Impact of global economic conditions on whisky demand.
- Changes in trade policies and tariffs affecting export dynamics.
- Consumer preferences shifting towards premium and craft whiskies.
- Evolution in competitive landscape with an increase in market entrants.
