Thailand: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in Thailand

The Thai inedible fish products market plummeted to $X in 2022, with a decrease of -31.9% against the previous year. In general, consumption saw a pronounced curtailment. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Inedible Fish Products Production in Thailand

In value terms, inedible fish products production shrank markedly to $X in 2022 estimated in export price. Overall, production showed a noticeable decrease. The most prominent rate of growth was recorded in 2014 with an increase of 104%. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Inedible Fish Products Exports

Exports from Thailand

In 2022, after six years of growth, there was significant decline in shipments abroad of inedible fish products, when their volume decreased by -8.1% to X tons. In general, exports, however, posted a remarkable increase. The growth pace was the most rapid in 2019 with an increase of 58%. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced in the following year.

In value terms, inedible fish products exports expanded rapidly to $X in 2022. Over the period under review, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 428%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for inedible fish products exports from Thailand, accounting for a 40% share of total exports. Moreover, inedible fish products exports to Japan exceeded the volume sent to the second major destination, China (X tons), threefold. The third position in this ranking was held by Vietnam (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Japan stood at +1.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+129.5% per year) and Vietnam (+11.8% per year).

In value terms, the largest markets for inedible fish products exported from Thailand were Vietnam ($X), Indonesia ($X) and China ($X), together comprising 60% of total exports.

Indonesia, with a CAGR of +144.1%, recorded 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 more modest paces of growth.

Export Prices by Country

The average inedible fish products export price stood at $X per ton in 2022, growing by 21% against the previous year. Overall, the export price recorded temperate growth. The growth pace was the most rapid in 2014 when the average export price increased by 316%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, 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 Indonesia ($X per ton), while the average price for exports to Japan ($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 Vietnam (-0.9%), while the prices for the other major destinations experienced a decline.

Inedible Fish Products Imports

Imports into Thailand

In 2022, imports of inedible fish products into Thailand dropped remarkably to X tons, reducing by -72.3% on 2021 figures. Over the period under review, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 378%. As a result, imports attained the peak of X tons, and then fell markedly in the following year.

In value terms, inedible fish products imports rose slightly to $X in 2022. In general, imports saw a perceptible reduction. The pace of growth was the most pronounced in 2014 when imports increased by 60% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Myanmar (X tons) constituted the largest supplier of inedible fish products to Thailand, accounting for a 48% share of total imports. Moreover, inedible fish products imports from Myanmar exceeded the figures recorded by the second-largest supplier, Cambodia (X tons), fourfold. Spain (X tons) ranked third in terms of total imports with a 6.5% share.

From 2012 to 2022, the average annual growth rate of volume from Myanmar amounted to +390.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Cambodia (+41.5% per year) and Spain (+624.8% per year).

In value terms, the largest inedible fish products suppliers to Thailand were Russia ($X), China ($X) and Myanmar ($X), with a combined 58% share of total imports.

Myanmar, with a CAGR of +397.7%, 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 inedible fish products import price stood at $X per ton in 2022, growing by 270% against the previous year. Overall, the import price, however, recorded a deep contraction. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, 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 Russia ($X per ton), while the price for Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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