Thailand: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in Thailand

The Thai frozen fish and seafood market contracted to $X in 2023, waning by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. Frozen fish and seafood consumption peaked at $X in 2022, and then fell in the following year.

Production of Frozen Fish and Seafood in Thailand

In value terms, frozen fish and seafood production fell to $X in 2023 estimated in export price. Over the period under review, production, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2014 with an increase of X%. Frozen fish and seafood production peaked at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Exports of Frozen Fish and Seafood

Exports from Thailand

Frozen fish and seafood exports from Thailand contracted to X tons in 2023, shrinking by X% compared with the previous year. Overall, exports showed a abrupt descent. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, frozen fish and seafood exports declined to $X in 2023. Over the period under review, exports continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

China (X tons), Japan (X tons) and the United States (X tons) were the main destinations of frozen fish and seafood exports from Thailand, together accounting for X% of total exports. Vietnam, South Korea, Taiwan (Chinese), Italy, the United Arab Emirates, Qatar, Cambodia, Singapore, Canada and Saudi Arabia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cambodia (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for frozen fish and seafood exported from Thailand were Japan ($X), China ($X) and the United States ($X), with a combined X% share of total exports. South Korea, Italy, Taiwan (Chinese), Canada, Vietnam, Singapore, the United Arab Emirates, Qatar, Cambodia and Saudi Arabia lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Cambodia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average frozen fish and seafood export price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2016 when the average export price increased by X% against the previous year. The export price peaked in 2023 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish and Seafood

Imports into Thailand

In 2023, approx. X tons of frozen fish and seafood were imported into Thailand; waning by X% on 2022 figures. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X%. Imports peaked at X tons in 2022, and then dropped in the following year.

In value terms, frozen fish and seafood imports declined to $X in 2023. Overall, imports, however, showed a mild expansion. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

India (X tons), Taiwan (Chinese) (X tons) and Nauru (X tons) were the main suppliers of frozen fish and seafood imports to Thailand, with a combined X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Nauru (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fish and seafood suppliers to Thailand were India ($X), Taiwan (Chinese) ($X) and China ($X), with a combined X% share of total imports. Vietnam, Nauru, Japan, South Korea, Micronesia, Maldives, Peru, Pakistan, Vanuatu and Russia lagged somewhat behind, together comprising a further X%.

Nauru, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average frozen fish and seafood import price stood at $X per ton in 2023, rising by X% against the previous year. In general, import price indicated modest growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, frozen fish and seafood import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2023, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Peru (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform