The sweeteners market in Thailand has experienced modest growth over the past decade. As of 2023, the market size stood at 2.81 million metric tons. The CAGR over the last five years is 0.33%, with a year-on-year increase of 0.43% from 2022 to 2023. Historical data shows fluctuations, including a notable decline in 2020 by -4.59%, followed by a strong recovery in 2021 with a growth of 5.72%. The forecast for the next five years predicts a steady average annual growth rate of 0.34%, leading to a market size of 2.87 million metric tons by 2028.
Future trends to watch for include shifts in consumer preferences towards low-calorie and natural sweeteners, potential regulatory changes affecting the production and import of sweeteners, and the impact of health trends on sweetener consumption. Additionally, innovations in sweetener technologies and the introduction of new products can significantly influence market dynamics.
