The freshwater fish market in Thailand has shown fluctuations over the past decade, peaking in certain years and dropping significantly in others. In 2023, the market stood at 630.48 thousand metric tons, with a modest year-on-year variation of 0.22% and a CAGR of 0.2% over the last five years. A significant decline occurred in 2020, with a drop of 16.8%, but the market rebounded by 14.72% in 2021. From 2019 to 2023, the market displayed a positive trend, albeit with minor fluctuations, demonstrating resilience and gradual recovery.
In the coming years, forecasts suggest the market will continue its slow growth trajectory with a 5-year CAGR of 0.19%, reaching 635.83 thousand metric tons by 2028. This trend is indicative of a stable yet cautious growth outlook.
Future trends to watch for:
- Impact of environmental factors and regulatory changes on fish farming practices.
- Technological advancements in aquaculture and their potential to boost production efficiency.
- Shifts in consumer preferences towards sustainably sourced seafood.
- Economic recovery post-pandemic influencing market demand and growth.
- Expansion of export markets for Thailand’s freshwater fish production.