Thai ice cream licks Asian rivals with 7.3% export growth
Thai ice cream exports rose for the seventh consecutive year, to US$148.21 million in 2023, according to the Trade Policy and Strategy Office.
TPSO director-general Poonpong Naiyanapakorn said ice cream products still have a bright future for Thai exporters with export value rising 7.3% year on year for a
compound annual growth rate of 12.43% per year.
He added that Thailand is now the No 1 ice cream exporter in Asia and ranked 11th in the world.
Poonpong said exports were still growing, with Thailand shipping $9.91 million worth of ice cream in January this year – 10.1% up from the same month last year.
Thailand’s top five foreign ice cream markets are Malaysia with a 29.5% share, South Korea (11.3%), Vietnam (9.5%), Singapore (6.5%), and Cambodia (6.3%).
Poonpong said Thailand had an advantage with domestic ingredients that produced outstanding flavours, including durian ice cream.
He also noted growing global demand, citing a Euromonitor International study showing the world ice cream market expanded 8.8% to $86.719 billion in 2023 from a year earlier.
