Thailand: Preserved Salmon Market 2024

Preserved Salmon Market Size in Thailand

In 2021, the Thai preserved salmon market decreased by -39.2% to $X, falling for the sixth consecutive year after two years of growth. In general, consumption continues to indicate a abrupt decline. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Preserved Salmon Production in Thailand

In value terms, preserved salmon production rose modestly to $X in 2021 estimated in export price. Overall, production showed a mild reduction. The pace of growth appeared the most rapid in 2019 with an increase of 12%. Preserved salmon production peaked at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Preserved Salmon Exports

Exports from Thailand

For the third consecutive year, Thailand recorded growth in shipments abroad of salmon (prepared or preserved), which increased by 3.4% to X tons in 2021. In general, total exports indicated slight growth from 2012 to 2021: its volume increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +41.5% against 2018 indices. The growth pace was the most rapid in 2013 with an increase of 42%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, preserved salmon exports rose to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 21%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for preserved salmon exports from Thailand, accounting for a 51% share of total exports. Moreover, preserved salmon exports to the United States exceeded the volume sent to the second major destination, Japan (X tons), threefold. Australia (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +8.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-7.9% per year) and Australia (+0.3% per year).

In value terms, the United States ($X) remains the key foreign market for salmon (prepared or preserved) exports from Thailand, comprising 49% of total exports. The second position in the ranking was taken by Japan ($X), with a 24% share of total exports. It was followed by Australia, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (-7.7% per year) and Australia (-0.8% per year).

Export Prices by Country

The average preserved salmon export price stood at $X per ton in 2021, leveling off at the previous year. Overall, the export price, however, showed a mild reduction. The most prominent rate of growth was recorded in 2019 an increase of 20% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the Netherlands ($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 the United States (+0.9%), while the prices for the other major destinations experienced mixed trend patterns.

Preserved Salmon Imports

Imports into Thailand

In 2021, overseas purchases of salmon (prepared or preserved) were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, imports enjoyed a slight expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 71%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, preserved salmon imports skyrocketed to $X in 2021. Overall, imports posted temperate growth. The most prominent rate of growth was recorded in 2013 when imports increased by 191% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Vietnam (X tons), Poland (X tons) and Japan (X tons) were the main suppliers of preserved salmon imports to Thailand, together accounting for 57% of total imports. Australia, New Zealand, Taiwan (Chinese), South Korea and the UK lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +225.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved salmon suppliers to Thailand were Australia ($X), New Zealand ($X) and Vietnam ($X), together comprising 52% of total imports. Poland, Japan, South Korea, Taiwan (Chinese) and the UK lagged somewhat behind, together accounting for a further 42%.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +216.2%, recorded the highest growth rate of 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 preserved salmon import price stood at $X per ton in 2021, increasing by 24% against the previous year. In general, the import price continues to indicate slight growth. The pace of growth appeared the most rapid in 2013 when the average import price increased by 70% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was South Korea ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+51.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :