Thailand dominates global canned tuna industry
24 August 2022
Spire Consultant, Muhammad Shobaruddin, discusses the reasons for Thailand’s dominance of the canned tuna industry.
The global demand for canned tuna is expected to continue to increase, from US$7.74 billion in 2019 to US$9.22 billion in 2027. This means large market opportunities for canned tuna producers.
Both Thailand and Indonesia have been producing canned tuna since the 1970s. In Thailand, the industry grew rapidly, reaching US$2.21 million with a total production of 560,000 tons in 2019. Indonesia, on the other hand, was only able to export 103,000 tons of canned tuna worth US$440,000.
Thailand’s advantage lies in having large production capabilities and can manufacturers as well as related and supporting industries centralized in the Bangkok area, making it easier to import raw tuna and export their canned tuna products.
Indonesia is a maritime country with abundant local tuna fishermen, and has a large workforce at lower wages. However its canned tuna producers are spread across Bali, East Java, Sorong, and Biak, making it difficult for producers to market their products to both domestic and international markets due to longer and more expensive transhipment .
Both countries continue to play an important role in supplying the world’s demand for canned tuna.
Click here to read the full article on TechnoBusiness.
For media enquiries, please contact:
Manager, Group Corporate Communications
Spire Research and Consulting
Phone: (65) 6838 5355