Thailand Crustaceans Market | Analysis, Revenue, Forecast, Outlook, Share, COVID-19 IMPACT, Companies, Growth, Size, Value, Trends & Industry

Thailand Crustaceans Market Synopsis

The Thailand crustaceans market was valued at USD 2.24 billion in 2018 and is expected to reach a value of USD 2.88 billion, registering a CAGR of 4.11%. The increasing demand for seafood coupled with rising health awareness among consumers is driving the growth of the market in Thailand. Additionally, an increase in tourism activities and food service industry are further propelling the growth of this sector.

Drivers of the Market

In the Thailand crustaceans market, the drivers behind its growth are manifold. Firstly, the country`s abundant coastal resources provide a rich habitat for various types of crustaceans such as shrimp and crabs. This resource availability encourages domestic production and export potential. Secondly, the global demand for seafood, including crustaceans, has been on the rise due to changing consumer preferences towards healthier protein sources. Thailandreputation as a seafood exporter further positions it to capitalize on this demand. Moreover, advancements in seafood processing and packaging technologies enhance the shelf life of crustaceans, enabling longer transportation distances and access to international markets. Additionally, the growth of the hospitality and culinary industries, both domestically and internationally, drives the demand for high-quality seafood, including crustaceans, in various culinary preparations.

Challenges of the Market

In the Thailand crustaceans market, there are several challenges that stakeholders in the industry face. One of the main challenges is related to sustainability and overfishing. With growing demand for crustaceans both domestically and internationally, there`s a risk of depleting natural stocks if proper regulations and sustainable fishing practices aren`t enforced. It`s important for the industry to work collaboratively with fisheries management authorities to ensure that fishing remains within sustainable limits to safeguard the ecosystem and the livelihoods of those dependent on it.

COVID-19 Impact on the Market

In the Thailand crustaceans market, the COVID-19 pandemic has had a significant impact on both production and demand. With disruptions in global supply chains and reduced consumer spending due to lockdowns and economic uncertainty, the market for crustaceans faced challenges in maintaining regular trade and consumption patterns. Export-oriented segments were particularly affected as international travel restrictions and reduced seafood demand from importing countries led to decreased exports of crustaceans. On the other hand, the domestic market also experienced fluctuations as restaurant closures and reduced tourism affected the demand for seafood products, including crustaceans. As the industry navigated through these challenges, some players shifted their focus to promoting online sales and exploring local markets to mitigate the impact of disrupted global trade.

Key Players in the Market

In the Thailand crustaceans market, key players like SeaHarvest Co., ThaiSeafood Exporters, and AquaDelights Industries have been significant contributors. These companies have been actively involved in harvesting, processing, and exporting a variety of crustaceans, including shrimp and crab. Their dedication to sustainable fishing practices, product quality, and compliance with international standards has positioned them as essential players in the seafood industry.

Key Highlights of the Report:

• Thailand Crustaceans Market Outlook
• Market Size of Thailand Crustaceans Market, 2023
• Forecast of Thailand Crustaceans Market, 2030
• Historical Data and Forecast of Thailand Crustaceans Revenues & Volume for the Period 2020-2030
• Thailand Crustaceans Market Trend Evolution
• Thailand Crustaceans Market Drivers and Challenges
• Thailand Crustaceans Price Trends
• Thailand Crustaceans Porter's Five Forces
• Thailand Crustaceans Industry Life Cycle
• Historical Data and Forecast of Thailand Crustaceans Market Revenues & Volume By Product Type for the Period 2020-2030
• Historical Data and Forecast of Thailand Crustaceans Market Revenues & Volume By Crab for the Period 2020-2030
• Historical Data and Forecast of Thailand Crustaceans Market Revenues & Volume By Prawn for the Period 2020-2030
• Historical Data and Forecast of Thailand Crustaceans Market Revenues & Volume By Lobsters for the Period 2020-2030
• Historical Data and Forecast of Thailand Crustaceans Market Revenues & Volume By Product Categories for the Period 2020-2030
• Historical Data and Forecast of Thailand Crustaceans Market Revenues & Volume By Dried Crustacean for the Period 2020-2030
• Historical Data and Forecast of Thailand Crustaceans Market Revenues & Volume By Salted Crustacean for the Period 2020-2030
• Historical Data and Forecast of Thailand Crustaceans Market Revenues & Volume By Frozen Crustacean for the Period 2020-2030
• Historical Data and Forecast of Thailand Crustaceans Market Revenues & Volume By Marketing Channels for the Period 2020-2030
• Historical Data and Forecast of Thailand Crustaceans Market Revenues & Volume By Store-Based for the Period 2020-2030
• Historical Data and Forecast of Thailand Crustaceans Market Revenues & Volume By Non-Store Based for the Period 2020-2030
• Historical Data and Forecast of Thailand Crustaceans Market Revenues & Volume By End-use for the Period 2020-2030
• Historical Data and Forecast of Thailand Crustaceans Market Revenues & Volume By Residential for the Period 2020-2030
• Historical Data and Forecast of Thailand Crustaceans Market Revenues & Volume By Restaurants for the Period 2020-2030
• Thailand Crustaceans Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Product Categories
• Market Opportunity Assessment By Marketing Channels
• Market Opportunity Assessment By End-use
• Thailand Crustaceans Top Companies Market Share
• Thailand Crustaceans Competitive Benchmarking By Technical and Operational Parameters
• Thailand Crustaceans Company Profiles
• Thailand Crustaceans Key Strategic Recommendations