Thailand: Battered Fish Fillet Market 2024

Battered Fish Fillet Market Size in Thailand

The Thai battered fish fillet market expanded slightly to $X in 2021, surging by 4.9% against the previous year. The market value increased at an average annual rate of +5.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Battered Fish Fillet Production in Thailand

In value terms, battered fish fillet production rose significantly to $X in 2021 estimated in export price. Overall, the total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -5.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 18% against the previous year. Battered fish fillet production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Battered Fish Fillet Exports

Exports from Thailand

In 2021, the amount of fish fillets in batter or breadcrumbs exported from Thailand expanded to X tons, with an increase of 3.5% compared with the year before. In general, exports posted noticeable growth. The pace of growth appeared the most rapid in 2017 when exports increased by 59%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, battered fish fillet exports stood at $X in 2021. Overall, exports showed a prominent increase. The pace of growth appeared the most rapid in 2017 when exports increased by 47% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Japan (X tons), Jamaica (X tons) and the United States (X tons) were the main destinations of battered fish fillet exports from Thailand, together comprising 59% of total exports. These countries were followed by Lao People's Democratic Republic, Cambodia, Australia, Spain, Myanmar, Taiwan (Chinese), Vietnam and Congo, which together accounted for a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (with a CAGR of +330.1%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for fish fillets in batter or breadcrumbs exports from Thailand, comprising 41% of total exports. The second position in the ranking was held by the United States ($X), with a 15% share of total exports. It was followed by Australia, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan amounted to +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+51.3% per year) and Australia (+17.4% per year).

Export Prices by Country

The average battered fish fillet export price stood at $X per ton in 2021, with a decrease of -2.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2013 an increase of 21% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+22.7%), while the prices for the other major destinations experienced more modest paces of growth.

Battered Fish Fillet Imports

Imports into Thailand

In 2021, imports of fish fillets in batter or breadcrumbs into Thailand surged to X tons, rising by 70% compared with the previous year. Over the period under review, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 847% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, battered fish fillet imports soared to $X in 2021. Overall, imports posted a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 616% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest battered fish fillet supplier to Thailand, accounting for a 53% share of total imports. Moreover, battered fish fillet imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), twofold. Myanmar (X tons) ranked third in terms of total imports with a 19% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+162.0% per year) and Myanmar (0.0% per year).

In value terms, the largest battered fish fillet suppliers to Thailand were Vietnam ($X), China ($X) and Myanmar ($X), with a combined 89% share of total imports.

Vietnam, with a CAGR of +162.1%, saw 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 battered fish fillet import price stood at $X per ton in 2021, shrinking by -24.5% against the previous year. In general, the import price showed a abrupt decrease. The pace of growth was the most pronounced in 2017 an increase of 42%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-5.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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