The import value of Vegetable, Fruit, Nut and Food Preparations to Thailand has shown a consistent upward trend from 2013 to 2023, growing from $296.05 million to $467.28 million. Despite a dip in 2014, the growth has been generally steady with year-on-year variations such as a peak increase of 14.65% in 2017 and smaller yet positive increments in later years, reflecting a slowing growth rate. The Compound Annual Growth Rate (CAGR) from 2018 to 2023 stands at 4.67%, indicating robust but decelerating growth over the recent years.
From 2024 onwards, the forecast suggests continued gradual growth with the value projected to reach $542.58 million by 2028. The forecasted 5-year CAGR of 2.36% implies a slower pace of growth compared to the past 5 years' average.
Future trends to watch for:
-Potential trade policies impacting import tariffs on food preparations.
-Evolving consumer preferences towards organic or specialty food products.
-Fluctuations in global agricultural markets affecting supply chain stability and pricing.