The butter and ghee market in Thailand exhibited a fluctuating trend from 2014 to 2023. For instance, the market volume stood at 15.0 thousand metric tons both in 2014 and 2023, despite experiencing significant year-on-year variations in the intervening years. Notable fluctuations include a decline of 6.67% in 2015, an increase of 15.38% in 2018, and a 5% drop in 2020. The market volume remained stable at 14.0 thousand metric tons from 2021 to 2023, with a compound annual growth rate (CAGR) of -1.37% from 2019 to 2023.
Looking ahead, the forecasted data predicts a slight but consistent decline in market volume, with the CAGR estimated at -0.29% over the next five years and an overall growth rate of -1.44% by 2028. Key future trends to watch for include potential shifts in consumption patterns due to changing dietary preferences, the impact of economic factors on consumer spending, and the influence of health and wellness trends on demand for butter and ghee products.
