The import value of coffee extracts, essences, concentrates, and preparations to Thailand stood at $110.54 million in 2023. Analyzing the variations, the import value saw a year-on-year increase of 2.79% from 2022 to 2023. The average annual growth rate (CAGR) over the last five years (2019-2023) was 3.05%, indicating a steady upward trend.
Reviewing the data over a longer period, from 2013 to 2023, the values fluctuated but demonstrated an overall growth pattern, moving from $99.153 million in 2013 to $110.54 million in 2023. This reflects a market with periods of contraction and growth but trending positively in recent years.
Looking ahead, forecasted data shows a continuing increase in import values, reaching $126.2 million by 2028. The forecasted 5-year CAGR is 2.09%, suggesting a moderate but steady growth rate. It is anticipated that by 2028, Thailand will see a 10.87% growth in the import value from 2024.
Future trends to watch for:
- Changes in global coffee prices and supply chain dynamics
- Consumer preferences and shifts towards premium or specialty coffee products
- Economic factors influencing consumer spending power in Thailand