Fish & Seafood - Laos

Laos

Highlights

Revenue in the Fish & Seafood market amounts to US$1.48bn in 2024. The market is expected to grow annually by 6.26% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$97bn in 2024).
In relation to total population figures, per person revenues of US$191.60 are generated in 2024.
In the Fish & Seafood market, volume is expected to amount to 97.25m kg by 2029. The Fish & Seafood market is expected to show a volume growth of 4.2% in 2025.0.
The average volume per person in the Fish & Seafood market is expected to amount to 10.9kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Fish & Seafood market in Laos has shown minimal growth due to factors such as low consumer awareness and limited access to digital technologies. Despite this, the convenience of online services and increasing health awareness may drive future growth in this market.

Customer preferences: With the increasing focus on sustainability and ethical consumption, consumers in Laos are becoming more conscious of the environmental impact of their food choices. This has resulted in a growing demand for sustainably-sourced fish and seafood products in The Food market. Additionally, there has been a shift towards locally-sourced fish and seafood, as consumers prioritize supporting local fishermen and reducing their carbon footprint. This trend is further fueled by the rising popularity of traditional Laotian dishes, which often feature fresh and locally-caught fish and seafood.

Trends in the market: In Laos, the Fish & Seafood Market is experiencing a trend towards sustainable and eco-friendly practices. This is driven by consumer demand for ethically sourced seafood and government initiatives to protect marine resources. As a result, there is a rise in organic and locally sourced seafood products, as well as certifications for sustainable fishing practices. This trend is significant as it promotes environmental conservation and social responsibility, and has potential implications for industry stakeholders to adapt their supply chains and marketing strategies to meet these demands.

Local special circumstances: 'The Fish & Seafood Market in Laos is heavily influenced by the country's geography and culture. Being a landlocked country, Laos relies heavily on imported seafood products, which can be expensive and limited in variety. This has led to a strong demand for locally sourced seafood, such as freshwater fish and prawns, which are staples in Laotian cuisine. Additionally, the traditional fishing practices and close-knit fishing communities in Laos have contributed to the sustainability and quality of the seafood market. However, lack of regulatory oversight and infrastructure challenges have hindered the growth of the market.

Underlying macroeconomic factors: The Fish & Seafood Market in Laos is heavily influenced by macroeconomic factors such as global trade policies, national economic growth, and consumer spending. Due to the country's dependence on fish and seafood exports, any changes in global trade agreements can significantly impact market performance. Additionally, the overall economic health of Laos, including factors such as inflation and exchange rates, can affect the purchasing power of consumers and ultimately impact the demand for fish and seafood products. Fiscal policies and government initiatives also play a crucial role in shaping the market, with investments in infrastructure and regulations directly impacting the efficiency of the supply chain and overall market growth. Furthermore, the increasing demand for healthier food options and the growing middle-class population in Laos have led to a rise in consumer spending on fish and seafood, further driving the market's growth.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.