Thailand Cassava Market: Import Trend Analysis
Thailand cassava market witnessed an import growth rate of 8.14% from 2023 to 2024, with a compound annual growth rate (CAGR) of 9.62% from 2020 to 2024. The upward import momentum can be attributed to increased international demand for cassava products, reflecting a positive market stability and demand shift towards cassava-based products during this period.
Cassava Market: Thailand vs Top 5 Major Economies in 2027 (Asia)
By 2027, the Cassava market in Thailand is anticipated to reach a growth rate of 0.02%, as part of an increasingly competitive Asia region, where China remains at the forefront, supported by India, Japan, Australia and South Korea, driving innovations and market adoption across sectors.
Thailand Cassava Market Synopsis
The cassava market in Thailand has been growing consistently over the past decade. In 2019, exports of fresh cassava amounted to 489 thousand tons, which is a 6% increase compared to 2018. The main export destinations for Thai cassava are China (58%), Japan (11%), South Korea (10%) and other countries such as Malaysia and India. In terms of imports, Thailand imported 2.7 million tons of dried cassava chips from Vietnam in 2019 with a total value of US$ 643 million, representing 18% growth from the prior year.
Drivers of the Market
The Thailand cassava market is propelled by the widespread utilization of cassava in the production of various food products, including tapioca starch and flour. Cassava`s role as a staple crop and its application in both traditional and processed foods contribute to its market stability.
Challenges of the Market
The Thailand cassava market faces sustainability concerns due to its extensive water requirements and potential environmental impacts. Developing more efficient cultivation and processing methods while considering environmental factors is a challenge.
Trends & Oppourtunites of the Market
A staple with numerous applications, the cassava market boasts stability and adaptability. Businesses can explore innovative cassava-derived products that cater to modern culinary and dietary preferences.
COVID-19 Impact on the Market
The cassava market, a vital agricultural sector in Thailand, faced challenges driven by the pandemic`s impact on both demand and supply. The reduction in fuel consumption due to reduced mobility affected the demand for ethanol produced from cassava. Additionally, supply chain disruptions affected cassava farmers` access to markets, disrupting both processing and exports.
Key Players in the Market
The Thailand cassava market involves key players like Thai Wah Public Co., Ltd., and Thai Ethanolamines Co., Ltd., contributing to the cultivation and processing of cassava, used in various industries including food, feed, and industrial applications.
Key Highlights of the Report:
- Thailand Cassava Market Outlook
- Market Size of Thailand Cassava Market, 2023
- Forecast of Thailand Cassava Market, 2030
- Historical Data and Forecast of Thailand Cassava Revenues & Volume for the Period 2020-2030
- Thailand Cassava Market Trend Evolution
- Thailand Cassava Market Drivers and Challenges
- Thailand Cassava Price Trends
- Thailand Cassava Porter's Five Forces
- Thailand Cassava Industry Life Cycle
- Historical Data and Forecast of Thailand Cassava Market Revenues & Volume By Category for the Period 2020-2030
- Historical Data and Forecast of Thailand Cassava Market Revenues & Volume By Organic for the Period 2020-2030
- Historical Data and Forecast of Thailand Cassava Market Revenues & Volume By Conventional for the Period 2020-2030
- Historical Data and Forecast of Thailand Cassava Market Revenues & Volume By Form for the Period 2020-2030
- Historical Data and Forecast of Thailand Cassava Market Revenues & Volume By Solid for the Period 2020-2030
- Historical Data and Forecast of Thailand Cassava Market Revenues & Volume By Liquid for the Period 2020-2030
- Historical Data and Forecast of Thailand Cassava Market Revenues & Volume By Application for the Period 2020-2030
- Historical Data and Forecast of Thailand Cassava Market Revenues & Volume By Food & Beverages for the Period 2020-2030
- Historical Data and Forecast of Thailand Cassava Market Revenues & Volume By Animal Feed for the Period 2020-2030
- Historical Data and Forecast of Thailand Cassava Market Revenues & Volume By Others for the Period 2020-2030
- Thailand Cassava Import Export Trade Statistics
- Market Opportunity Assessment By Category
- Market Opportunity Assessment By Form
- Market Opportunity Assessment By Application
- Thailand Cassava Top Companies Market Share
- Thailand Cassava Competitive Benchmarking By Technical and Operational Parameters
- Thailand Cassava Company Profiles
- Thailand Cassava Key Strategic Recommendations
