Thailand: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Thailand

The Thai seafood meals and pellets market skyrocketed to $X in 2021, with an increase of 47% against the previous year. Overall, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +95.2% against 2015 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Thailand

In value terms, seafood meals and pellets production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, recorded noticeable growth. The growth pace was the most rapid in 2013 with an increase of 81% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from Thailand

In 2021, the amount of flours, meals and pellets of fish or of crustaceans and molluscs exported from Thailand dropped markedly to X tons, with a decrease of -19.3% on the previous year's figure. Over the period under review, exports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of 99% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, seafood meals and pellets exports shrank to $X in 2021. In general, exports, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2013 with an increase of 129% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for seafood meals and pellets exports from Thailand, accounting for a 72% share of total exports. Moreover, seafood meals and pellets exports to China exceeded the volume sent to the second major destination, Japan (X tons), sixfold. Bangladesh (X tons) ranked third in terms of total exports with a 4.4% share.

From 2012 to 2021, the average annual growth rate of volume to China stood at +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+9.7% per year) and Bangladesh (+17.1% per year).

In value terms, China ($X) remains the key foreign market for flours, meals and pellets of fish or of crustaceans and molluscs exports from Thailand, comprising 73% of total exports. The second position in the ranking was taken by Japan ($X), with an 11% share of total exports. It was followed by Vietnam, with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+11.5% per year) and Vietnam (-10.1% per year).

Export Prices by Country

The average seafood meals and pellets export price stood at $X per ton in 2021, increasing by 5.4% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the average export price increased by 15% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, the highest price was recorded for prices to Malaysia ($X per ton) and Vietnam ($X per ton), while the average price for exports to Japan ($X per ton) and Bangladesh ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+1.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into Thailand

In 2021, approx. X tons of flours, meals and pellets of fish or of crustaceans and molluscs were imported into Thailand; surging by 39% on 2020 figures. Over the period under review, imports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2014 when imports increased by 179%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, seafood meals and pellets imports surged to $X in 2021. In general, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2014 when imports increased by 166% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

Vietnam (X tons), Myanmar (X tons) and Chile (X tons) were the main suppliers of seafood meals and pellets imports to Thailand, together comprising 71% of total imports. These countries were followed by the Philippines, the United States, China, Norway and India, which together accounted for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Philippines (with a CAGR of +433.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest seafood meals and pellets suppliers to Thailand were Myanmar ($X), Vietnam ($X) and Chile ($X), with a combined 69% share of total imports. The Philippines, the United States, Norway, China and India lagged somewhat behind, together comprising a further 22%.

In terms of the main suppliers, the Philippines, with a CAGR of +451.5%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average seafood meals and pellets import price stood at $X per ton in 2021, picking up by 7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The pace of growth was the most pronounced in 2019 an increase of 15%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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