The import of cocoa and cocoa preparations to Thailand has demonstrated fluctuating trends over the past decade. The period from 2013 to 2016 saw a decline, culminating in a significant drop of about 12% in 2016 compared to the previous year. However, from 2017 onwards, imports have generally increased, albeit at a moderate pace. By 2023, the value stood at $215.79 million. The past two years saw a year-on-year increase of 1.96% in 2022 and 1.88% in 2023. The compound annual growth rate (CAGR) over the last five years is 1.9%, indicating moderate growth.
Looking ahead, imports are forecasted to grow steadily through 2028, projected to reach $234.57 million. The forecasted five-year CAGR is 1.32%, with an overall growth rate of 6.77% anticipated. These trends suggest a stable and modest increase in import volumes.
Future trends to watch for include changes in global cocoa production, shifts in consumer preferences toward cocoa-based products, and potential tariff or trade policy changes affecting cocoa imports. Monitoring these factors will be crucial for accurate future projections and market strategies.
