The data on milk powder imports to Thailand shows variable growth and fluctuations over the period analyzed. In 2023, the import volume stood at 67.539 million kilograms. Past trends reveal periods of significant growth, such as the 31.86% increase in 2015, and declines, such as the -29.23% shrinkage in 2016. The compound annual growth rate (CAGR) varied widely across different periods, with notable dips and increases. The most recent five-year CAGR up to 2023 was a modest 0.19%.
Future trends (forecasts from 2024 to 2028) predict continuity in minor growth with a forecasted five-year CAGR of 0.32% and an overall growth rate of 1.59%. By 2028, the import volume is expected to reach approximately 68.907 million kilograms.
Future trends to watch for include:
- Potential impacts of global dairy market conditions on import prices.
- Thailand's domestic policies affecting dairy import regulations.
- Consumer demand trends changing with economic shifts and dietary preferences.
- Supply chain disruptions or enhancements due to technological advancements or geopolitical events.
