Thailand: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in Thailand

The Thai fresh fish fillet market was estimated at $X in 2021, rising by 12% against the previous year. The market value increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market reached the peak level in 2021 and is likely to continue growth in years to come.

Fresh Fish Fillet Production in Thailand

In value terms, fresh fish fillet production rose rapidly to $X in 2021 estimated in export price. In general, production recorded a slight contraction. The pace of growth was the most pronounced in 2019 with an increase of 19%. Fresh fish fillet production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Fresh Fish Fillet Exports

Exports from Thailand

In 2021, shipments abroad of fresh or chilled fish fillets decreased by -45% to X tons, falling for the second year in a row after two years of growth. In general, exports faced a sharp curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 51% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, fresh fish fillet exports plummeted to $X in 2021. Over the period under review, exports faced a precipitous descent. The most prominent rate of growth was recorded in 2019 when exports increased by 31%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Malaysia (X tons), Singapore (X tons) and the United Arab Emirates (X tons) were the main destinations of fresh fish fillet exports from Thailand, together accounting for 98% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +99.4%), while shipments for the other leaders experienced a decline.

In value terms, Singapore ($X), the United Arab Emirates ($X) and Malaysia ($X) appeared to be the largest markets for fresh fish fillet exported from Thailand worldwide, together accounting for 92% of total exports.

The United Arab Emirates, with a CAGR of +57.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average fresh fish fillet export price amounted to $X per ton, which is down by -38.2% against the previous year. Over the period under review, the export price saw a abrupt contraction. The most prominent rate of growth was recorded in 2017 an increase of 21% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 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 the United States ($X per ton), while the average price for exports to Malaysia ($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 France (+14.3%), while the prices for the other major destinations experienced mixed trend patterns.

Fresh Fish Fillet Imports

Imports into Thailand

In 2021, imports of fresh or chilled fish fillets into Thailand surged to X tons, growing by 129% against the year before. Over the period under review, imports posted a resilient increase. The pace of growth appeared the most rapid in 2018 when imports increased by 188%. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, fresh fish fillet imports rose rapidly to $X in 2021. Overall, imports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2018 with an increase of 42%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Myanmar (X tons) constituted the largest fresh fish fillet supplier to Thailand, accounting for a 71% share of total imports. Moreover, fresh fish fillet imports from Myanmar exceeded the figures recorded by the second-largest supplier, Norway (X tons), fourfold. The third position in this ranking was held by Cambodia (X tons), with a 5.1% share.

From 2012 to 2021, the average annual growth rate of volume from Myanmar stood at +121.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+9.5% per year) and Cambodia (+65.2% per year).

In value terms, Norway ($X) constituted the largest supplier of fresh or chilled fish fillets to Thailand, comprising 48% of total imports. The second position in the ranking was taken by Myanmar ($X), with a 21% share of total imports. It was followed by Japan, with an 18% share.

From 2012 to 2021, the average annual growth rate of value from Norway totaled +17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Myanmar (+89.7% per year) and Japan (+20.6% per year).

Import Prices by Country

The average fresh fish fillet import price stood at $X per ton in 2021, falling by -51.1% against the previous year. Overall, the import price, however, showed a pronounced increase. The most prominent rate of growth was recorded in 2019 an increase of 170%. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, 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 Japan ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+17.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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