The Thai grape market has shown varying growth trends over the years. From 2014 to 2017, the market experienced a steady increase, peaking at 245.0k metric tons. However, a significant dip occurred in 2018, with a sharp decline by 12.24% followed by slight recoveries. Notably, the market size in 2023 stood at 243.0k metric tons, reflecting a modest year-on-year growth of 1.25%. Over the last five years, the compound annual growth rate (CAGR) was 2.48%.
Looking ahead to 2028, the forecasted 5-year CAGR is 1.04%, suggesting a slower yet steady growth trajectory. The market size is expected to reach 259.0k metric tons by 2028, representing a total growth rate of 5.28% from 2023.
Future trends to watch for:
- Increased adoption of innovative farming techniques to enhance yield and quality.
- Consumer demand for organic and sustainably grown grapes.
- Impact of climate change on grape production and quality.
- The expansion of export markets in the ASEAN region and beyond.