From 2013 to 2023, Thailand's garlic exports to Japan showed significant fluctuation with considerable growth particularly from 2018 to 2023. In 2023, the exported value stood at $67,000. Between 2022 and 2023 there was a year-on-year increase of 4.69%. Over the last two years, the growth rate was 5.67%. The 5-year Compound Annual Growth Rate (CAGR) from 2019 to 2023 was 14.53%.
The forecast indicates that from 2024 to 2028, the growth in garlic exports to Japan is expected to stabilize with a CAGR of 1.68% and an 8.7% overall growth rate over the five years.
Future trends to watch for:
- Potential impact of changing agricultural policies in Thailand and Japan.
- Emerging consumer trends favoring organic and sustainably-sourced garlic.
- Fluctuations in demand driven by the culinary trends and health benefits associated with garlic intake.
- Trade agreements or constraints that might affect export volumes and values.