Thailand Tuna Fish Market- Trend Analysis & Forecast to 2030

Tuna fish production in Thailand reached XX million tonnes in 2023 and is projected to grow at a CAGR of XX% from 2020 to 2030. Thailand is a global leader in the tuna fish market, significantly influencing supply and demand dynamics worldwide. With robust processing facilities and trade networks, Thailand plays a pivotal role in tuna exports. The country's strategic position makes it a key hub for tuna production and distribution.

Market Overview

Thailand has established itself as one of the most prominent exporters of processed tuna globally, with canned and frozen products making up the bulk of its exports. The tuna industry is vital to Thailand's economy, contributing significantly to its seafood sector. Thai tuna producers benefit from abundant raw materials sourced locally and internationally, ensuring a steady supply to meet global demand. With advancements in processing technologies and sustainable fishing practices, Thailand has maintained its competitiveness. However, increasing competition from other Asian countries and shifting consumer preferences toward sustainable seafood products are influencing market dynamics. As a result, innovation in value-added products and supply chain efficiency is becoming essential to sustain Thailand’s dominant position.

Thailand Significance in the Global Tuna Fish Supply

Thailand serves as a major tuna processing and exporting hub in the global seafood market. Its extensive processing capacity, skilled labor, and well-established infrastructure make the country crucial for the global supply chain. Tuna from various oceans is imported for processing, after which it is re-exported worldwide, making Thailand a global distribution center.

Thailand Tuna Fish Supply & Demand Trend

Tuna production in Thailand has remained steady due to a combination of domestic catch and substantial imports of raw tuna for processing. Demand for tuna, particularly canned tuna, has been strong both domestically and internationally, driven by health-conscious consumers and growing popularity in ready-to-eat meals. However, fluctuations in raw tuna supply and stricter fishing regulations present challenges to meeting future demand growth.

Thailand Tuna Fish Market Growth Factors

Thailand's strategic geographic location, well-developed processing industry, and cost-effective labor are key drivers of growth in its tuna fish market. The global demand for processed seafood products, particularly canned tuna, has been growing steadily, supported by increased consumption in regions like the U.S., Europe, and Japan. The market also benefits from Thailand’s ability to source raw materials from neighboring regions, ensuring a stable supply for processing and export. Additionally, government initiatives to promote the fishing industry and improve sustainability practices contribute to the market’s expansion. Investments in cold chain logistics and improvements in product innovation also strengthen Thailand’s role in the international tuna market.

Thailand Tuna Fish Market Restraints & Challenges

Thailand faces several challenges in maintaining its dominance in the global tuna market. Overfishing and stricter environmental regulations globally are limiting tuna supply, leading to potential shortages and higher costs. Moreover, increased competition from emerging tuna processing countries in Southeast Asia, such as Vietnam and Indonesia, presents a competitive threat. Consumer demand is also shifting towards more sustainably sourced products, putting pressure on Thailand’s tuna industry to adopt better traceability and sustainability measures. Currency fluctuations and trade tariffs further exacerbate the market's unpredictability.

Thailand Tuna Fish Supply/ Value Chain Bottlenecks/ Challenges

The Thai tuna fish supply chain faces bottlenecks primarily due to fluctuating raw material availability and international trade regulations. Over-reliance on imported raw tuna increases vulnerability to global supply chain disruptions. The lack of consistent, sustainable tuna supplies due to overfishing and environmental regulations in source countries can cause processing delays. Additionally, logistical challenges, such as maintaining the cold chain for fresh and frozen products, contribute to inefficiencies. The increasing complexity of meeting international food safety and sustainability standards adds further pressure on Thailand's tuna processors, necessitating investments in technology and process optimization.

Tuna Fish Price Setting Power of Thailand

Thailand holds significant influence over global tuna pricing due to its large processing capacity and export volume. However, its price-setting power is affected by the availability of raw tuna, international market conditions, and competition from other exporters. Prices are also influenced by changes in fuel costs, environmental regulations, and fluctuating demand in key importing regions.

Tuna Fish End-use Industries

The end-use industries for tuna fish from Thailand primarily include the canned tuna industry, where the bulk of production is directed. Other significant sectors include the frozen tuna segment for sashimi and sushi production and the pet food industry, where lower-grade tuna products are repurposed for animal consumption.

Thailand Tuna Fish Trade (Export & Import) Trend

Thailand is a net exporter of tuna, with exports predominantly comprising canned and processed tuna products. Key export markets include the United States, Japan, and the European Union, which collectively account for a large share of Thailand’s tuna shipments. Imports primarily consist of raw tuna from the Pacific, Indian, and Atlantic Oceans, which are processed locally before re-export. In recent years, Thailand’s tuna export volumes have faced competition from other countries, but it remains a top global supplier. Ongoing trade negotiations and tariff adjustments with major trading partners will play a critical role in shaping future export trends.

Thailand is world largest exporter of tuna fish and accounts for 24% share in global exports. Thailand exported 444.66 thousand tonnes of tuna fish valued USD 2.07 billion in 2023. The USA and Middle East countries are major importers of tuna fish from Thailand, accounted for 22% and 21% respectively in 2023.

Thailand Tuna Fish Market Competitive Analysis

Thailand’s tuna market is highly competitive, with numerous established companies vying for market share in processing and exporting. The industry is dominated by large, vertically integrated corporations that have streamlined their operations across the entire value chain, from sourcing raw tuna to processing and distribution. These companies face competition from emerging players in other Southeast Asian countries, driving continuous improvement in operational efficiencies.

List of Key Companies (Suppliers/ Processor/ Exporters),

■ Thai Union Group
■ Pataya Food Group
■ Sea Value Co., Ltd.
■ Asian Alliance International
■ Unicord Public Co., Ltd.
■ Seafresh Industry
■ Tropical Canning Co., Ltd.
■ Pacific Tuna Co., Ltd.
■ Narong Seafood Co., Ltd.
■ Kingfisher Holdings
■ Chotiwat Manufacturing Co., Ltd.
■ Pakfood Public Co., Ltd.
■ Chotiwat Manufacturing Co., Ltd.
■ Diamond Food Product Co., Ltd.
■ Maruha Nichiro Corporation
■ Bangkok Seafood Co., Ltd.

Future Outlook

The future of the Thailand tuna fish market looks positive, but it will require continuous adaptation to global market demands and sustainability trends. The push for eco-friendly and traceable seafood products is likely to shape the direction of the industry. Investment in sustainable fishing practices and innovation in value-added tuna products will become critical. With its established infrastructure and market expertise, Thailand is well-positioned to maintain its leading role in the global tuna market, although competition from other countries will continue to intensify.