Updated Jan 10, 2023 21:44

Preserved Frozen Potato Market in Thailand

Market Overview
The Thai preserved frozen potato market stood at $ in , surging by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Preserved frozen potato consumption peaked at $ in 2012; however, from 2013 to , consumption stood at a somewhat lower figure.

In value terms, preserved frozen potato production amounted to $ in estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 when the production volume increased by %. Over the period under review, production attained the peak level at $ in 2011; however, from 2012 to , production stood at a somewhat lower figure.


Consumption
In , consumption of frozen potatoes (prepared or preserved) in Thailand expanded to tons, surging by % compared with the year before. The total consumption volume increased at an average annual rate of +% from 2007 to ; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Preserved frozen potato consumption peaked at tons in ; however, from to , consumption stood at a somewhat lower figure.

The value of the preserved frozen potato market in Thailand rose modestly to $ in , with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2007 to ; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $ in 2012; however, from 2013 to , consumption failed to regain momentum.


Market Forecast
Driven by increasing demand for preserved frozen potato in Thailand, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Driven by a growing demand, the share of imports in total supply in Thailand increased significantly over the last fifteen years (from % to %). In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports increased moderately ( percentage point) over the period under review.


Trade Balance
Thailand remains a net importer of preserved frozen potato; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.