Thailand: Frozen Fish Market 2024

Frozen Fish Market Size in Thailand

The Thai frozen fish market rose sharply to $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Frozen Fish Production in Thailand

In value terms, frozen fish production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Frozen Fish Exports

Exports from Thailand

In 2022, approx. X tons of frozen fish were exported from Thailand; with a decrease of X% against 2021. Overall, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, frozen fish exports expanded rapidly to $X in 2022. In general, exports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for frozen fish exports from Thailand, with a X% share of total exports. Moreover, frozen fish exports to Japan exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. The United States (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and the United States (X% per year).

In value terms, Japan ($X) remains the key foreign market for frozen fish exports from Thailand, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Vietnam (X% per year).

Export Prices by Country

The average frozen fish export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Imports

Imports into Thailand

In 2022, the amount of frozen fish imported into Thailand rose significantly to X tons, growing by X% against 2021 figures. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, frozen fish imports surged to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Taiwan (Chinese) (X tons), Japan (X tons) and India (X tons) were the main suppliers of frozen fish imports to Thailand, together comprising X% of total imports. Micronesia, Vietnam, Nauru, China, South Korea, Vanuatu, Russia, Maldives, Kiribati and Marshall Islands lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, 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, Taiwan (Chinese) ($X), India ($X) and Vietnam ($X) appeared to be the largest frozen fish suppliers to Thailand, with a combined X% share of total imports. Micronesia, Japan, Nauru, China, South Korea, Vanuatu, Maldives, Kiribati, Russia and Marshall Islands lagged somewhat behind, together accounting for a further X%.

Nauru, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the average frozen fish import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nauru (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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