The import of crustaceans to Thailand has demonstrated an overall increasing trend over the past decade, rising from $127.03 million in 2013 to $211.16 million in 2023. Notably, this has included periods of both growth and decline. For instance, there was a significant rise in 2016 by 20.53% followed by a sharp decline of 14.19% in 2020. Over the last two years, the year-on-year import values have shown a growth of 8.47% in 2022 and a modest increase of 2.9% in 2023. The compound annual growth rate (CAGR) over the past 5 years remains positive at 2.62%.
Future projections indicate a continued increase, with imports expected to reach $241.62 million by 2028, reflecting a 5-year CAGR of 2.17%. This suggests a relatively stable growth pattern despite potential market fluctuations.
Trends to watch for:
- Impact of global supply chain disruptions and regional political events.
- Fluctuations in consumer demand and preferences within Thailand and key export markets.
- Regulatory changes affecting crustacean imports and sustainable fishing practices.
