The import volume of sweeteners in Thailand has shown notable fluctuations over the past decade, reaching 190 thousand metric tons in 2023. From 2014 to 2018, it experienced substantial growth, with the highest year-on-year increase observed in 2018 at 14.94%. However, from 2019 to 2020, there was a decline in volumes, followed by a recovery in 2021. The year-on-year variation for 2022 and 2023 was relatively stable around 2.2% and 2.15% respectively, indicating a more moderate growth rate. The CAGR from 2019 to 2023 was 1.43%, illustrating an overall slower growth trend.
Future trends to watch for: The forecast for the next five years projects a steady increase in import volumes, with an average annual growth rate (CAGR) of 1.65% and a cumulative growth rate of 8.54% by 2028. Factors such as changes in consumer preferences, trade regulations, and the emergence of alternative sweeteners could significantly influence these projections.
