Thailand Millets Market: Import Trend Analysis
Thailand import trend for millets in 2024 experienced a notable decline of -37.56% compared to the previous year, while the compound annual growth rate (CAGR) for 2020-2024 stood at 13.89%. This substantial decrease in import momentum in 2024 could be attributed to shifting consumer preferences, changes in trade policies, or market stabilization efforts.
Thailand Millets Market Synopsis
Millet imports into Thailand have been declining slightly over recent years due mainly to increased competition from domestic producers as well as reduced import tariffs among ASEAN members states including Vietnam, Laos and Cambodia. Total millet imports amounted to around 10 thousand metric tons in 2018 valued at $12 million USD compared with 17 thousand metric tons worth $15 million USD imported in 2015. Main origins are India (44%), France (23%) Czech Republic(13%) Germany(9%) Australia( 7 %) USA(2 %). Imports consist mostly of pearl millet accounting for 77% while foxtail millet makes up 14%, fingermillet 8%and barnyard millets 1%.
Drivers of the Market
The Thailand millets market has been driven by a growing interest in alternative grains and gluten-free options. Millets are recognized for their nutritional value, drought resistance, and suitability for sustainable agriculture. As consumers become more health-conscious and seek diverse grains, millets have found their place in various food products, including cereals, snacks, and gluten-free flours.
Challenges of the Market
In the Thailand millets market, the challenge centers on repositioning millets from traditional to contemporary diets. Promoting millets as nutritious, gluten-free options in an era of changing dietary patterns requires innovative culinary applications and consumer awareness campaigns.
Trends & Oppourtunites of the Market
The millets market is gaining traction as a nutritious alternative grain. Entrepreneurs can promote millet-based products, catering to health-conscious consumers seeking diverse and wholesome food choices.
COVID-19 Impact on the Market
The pandemic highlighted the importance of diversifying food sources, leading to an increased interest in millets. However, disruptions in supply chains occasionally affected the availability of millet products.
Key Players in the Market
In the Thailand millets market, companies like CP Group and Betagro Group are involved in cultivating and supplying millets, which are gaining recognition for their nutritional value.
Key Highlights of the Report:
- Thailand Millets Market Outlook
- Market Size of Thailand Millets Market, 2023
- Forecast of Thailand Millets Market, 2030
- Historical Data and Forecast of Thailand Millets Revenues & Volume for the Period 2020-2030
- Thailand Millets Market Trend Evolution
- Thailand Millets Market Drivers and Challenges
- Thailand Millets Price Trends
- Thailand Millets Porter's Five Forces
- Thailand Millets Industry Life Cycle
- Historical Data and Forecast of Thailand Millets Market Revenues & Volume By Type for the Period 2020-2030
- Historical Data and Forecast of Thailand Millets Market Revenues & Volume By Pearl Millet for the Period 2020-2030
- Historical Data and Forecast of Thailand Millets Market Revenues & Volume By Finger Millet for the Period 2020-2030
- Historical Data and Forecast of Thailand Millets Market Revenues & Volume By ProsoMillet for the Period 2020-2030
- Historical Data and Forecast of Thailand Millets Market Revenues & Volume By Others for the Period 2020-2030
- Historical Data and Forecast of Thailand Millets Market Revenues & Volume By Distribution Channel for the Period 2020-2030
- Historical Data and Forecast of Thailand Millets Market Revenues & Volume By Trade Association& Organization for the Period 2020-2030
- Historical Data and Forecast of Thailand Millets Market Revenues & Volume By Traditional Grocery Stores for the Period 2020-2030
- Historical Data and Forecast of Thailand Millets Market Revenues & Volume By Supermarket for the Period 2020-2030
- Historical Data and Forecast of Thailand Millets Market Revenues & Volume By Online Stores for the Period 2020-2030
- Historical Data and Forecast of Thailand Millets Market Revenues & Volume By Others for the Period 2020-2030
- Historical Data and Forecast of Thailand Millets Market Revenues & Volume By Application for the Period 2020-2030
- Historical Data and Forecast of Thailand Millets Market Revenues & Volume By Infant Food for the Period 2020-2030
- Historical Data and Forecast of Thailand Millets Market Revenues & Volume By Bakery Products for the Period 2020-2030
- Historical Data and Forecast of Thailand Millets Market Revenues & Volume By Beverages for the Period 2020-2030
- Thailand Millets Import Export Trade Statistics
- Market Opportunity Assessment By Type
- Market Opportunity Assessment By Distribution Channel
- Market Opportunity Assessment By Application
- Thailand Millets Top Companies Market Share
- Thailand Millets Competitive Benchmarking By Technical and Operational Parameters
- Thailand Millets Company Profiles
- Thailand Millets Key Strategic Recommendations
