The crustaceans market size volume in Thailand displayed varied trends from 2014 to 2023. In 2023, the market stood at 172.08 Thousand Metric Tons, showing a 1.8% year-on-year increase from 2022. Historical data reveals significant fluctuations, such as a notable 28.12% rise in 2016 followed by a decline in 2020 by 15.33%. Over the five years leading up to 2023, the compound annual growth rate (CAGR) was approximately 2%. Looking to the future, from 2024 onwards, a modest growth is projected with a forecasted CAGR of 1.4%, suggesting a steady, albeit slow, increase in market size volume, culminating in a 7.22% overall rise by 2028.
Future trends to watch for in the Thai crustaceans market include the impact of technological advancements in aquaculture, potential shifts in consumer preferences towards sustainable seafood, and the effects of environmental regulations on production capacities. Additionally, fluctuations in global trade dynamics and labor market changes might influence market stability and growth trajectories.
