Thailand Intensifies Efforts to Boost Ornamental Fish Industry

Strategic Insights -

Thailand is positioning itself to become a major player in the global ornamental fish market, with the aim of increasing income for local farmers and enhancing the country's global market presence. The Department of Fisheries has set a target, with the global market valued at 10 billion baht (US$307 million) in 2024, where Thailand is expected to hold 11% of the market share. Bancha Sukkaew, Director General of the Department of Fisheries, emphasizes Thailand's favourable climate, diverse species, and advanced breeding methods as the key factors contributing to the country's success in the industry. Thailand's ornamental fish are renowned worldwide for their quality and distinctiveness, with betta fish being a notable example. Exports of betta fish alone contribute 400 million baht (US$12.3 million) to the total exports, accounting for 40%.

Key Takeaways:

  • Thailand's ornamental fish industry is projected to be valued at 10 billion baht (US$307 million) in 2024, with the country expected to hold 11% of the global market share.
  • The country's unique climate, diverse species, and advanced breeding methods provide a strong competitive edge in the industry.
  • Thailand is a leading exporter of ornamental fish, with exports exceeding 1 billion baht (US$30 million).
  • Betta fish, or Siamese fighting fish, are a significant contributor to the country's ornamental fish exports, accounting for 40% of the total.
  • The Department of Fisheries has devised the 2023 to 2027 Ornamental Aquatic Animal Development Action Plan, which includes four strategies and 13 initiatives to promote the industry.
  • Efforts are underway to simplify trade conditions, enhance adherence to import regulations, and boost competitiveness through innovation.
  • The plan also includes the establishment of an export logistics system for ornamental fish in collaboration with Thailand Post to enable farmers and small to medium enterprises to access international markets directly.
  • Thailand Post is also testing live aquatic animal transport through the postal system to expand the list of species suitable for shipment beyond the existing seven species.
  • Discussions are ongoing to explore export possibilities for ornamental aquatic animals through Thailand Post, including drafting a supplementary memorandum of understanding outlining the scope of cooperation for overseas shipments.

Statistics:

  • The global ornamental fish market is projected to be valued at 10 billion baht (US$307 million) in 2024.
  • Thailand's ornamental fish exports are expected to exceed 1 billion baht (US$30 million).
  • Betta fish, or Siamese fighting fish, account for 400 million baht (US$12.3 million) or 40% of total exports.
  • The 2023 to 2027 Ornamental Aquatic Animal Development Action Plan includes four strategies and 13 initiatives to promote the industry.
  • Thailand Post is testing live aquatic animal transport through the postal system, with seven species currently approved for shipment.
  • Three additional species, sea grapes, sea lettuce algae, and sea mushrooms, have been approved for transport and will be added to the memorandum of understanding's appendix.

Sources:

  • Bangkok Post
  • Department of Fisheries, Thailand
  • Bancha Sukkaew, Director General of the Department of Fisheries