Fish Market: Our Business Plan

This article was written by our expert who is surveying the industry and constantly updating the business plan for a fish market.

Who wrote this content?

The Dojo Business Team

A team of financial experts, consultants, and writers

We're a team of finance experts, consultants, market analysts, and specialized writers dedicated to helping new entrepreneurs launch their businesses. We help you avoid costly mistakes by providing detailed business plans, accurate market studies, and reliable financial forecasts to maximize your chances of success from day one—especially in the fish market industry.

What is the current market size and growth rate for fish markets in Thailand?

Thailand's fish and seafood market is valued at USD 8.89 billion in 2025 and is growing at an annual rate of 3.24% through 2030.

The fresh fish and seafood segment is experiencing particularly strong growth at 10.11% CAGR, while the processed segment (valued at USD 2.05 billion in 2025) grows at 4.35% annually. This dual-track growth creates opportunities for fish markets that can serve both fresh-focused customers and those seeking convenient processed options.

Demand trends show health-conscious consumers increasingly prefer fresh seafood for its nutritional benefits, while convenience-driven buyers favor canned and frozen products. Urban areas demonstrate the strongest growth in premium fresh seafood, with customers willing to pay 10-15% more for certified, traceable products.

Regional markets in coastal provinces maintain consistent demand for both fresh catches and traditional processed items like dried fish and fermented products. This geographic diversity means fish market owners must adapt their product mix based on location—metropolitan areas favor premium fresh and imported species, while provincial markets prioritize local catches and affordable staples.

Who are the main competitors and what are their strategies?

The fish market industry in Thailand features competition from major corporations, regional wholesale markets, and local retail operations.

Thai Union Group dominates with product diversification and direct-to-customer channels, balancing high-volume exports with branded retail products. Companies like Maruha Nichiro, Mowi ASA, Cooke Aquaculture, and Dongwon Industries compete primarily in the export and processed segments.

Regional wholesale markets such as Mahachai and Samut Songkhram represent significant competition for retail fish markets because they offer lower prices through direct sourcing from fishing vessels and aquaculture farms. These markets typically undercut supermarket retail rates by 15-25% on comparable products.

Successful competitors focus on three core strategies: competitive procurement through direct supplier relationships, flexible inventory management that adjusts to seasonal availability, and sustainability certifications that appeal to premium market segments. Large players leverage economies of scale, while smaller fish markets compete through personalized service, specialized species selection, and guaranteed freshness.

Pricing strategies vary significantly—wholesale markets operate on thin margins (3-5%) with high volume, supermarkets mark up 25-40% for convenience and presentation, and premium retailers charge 40-60% premiums for certified organic or traceable seafood. Your fish market's positioning will determine which competitive approach makes sense.

Which fish species offer the highest demand and profit margins?

Marine shrimp leads in both volume and value, representing 392,470 tons and USD 1.65 billion in annual sales from aquaculture alone.

You'll find detailed market insights in our fish market business plan, updated every quarter.

What are the most cost-effective sourcing channels for a fish market?

Direct procurement from regional wholesale markets like Mahachai and Samut Songkhram provides the best cost-effectiveness for fish market operators.

These major coastal markets connect directly with fishing vessels and aquaculture operations, eliminating intermediary markups that typically add 15-25% to costs. Establishing relationships with suppliers at these markets allows fish market owners to select specific quality grades, negotiate volume discounts, and secure consistent supply.

Local fisheries offer fresh catches with minimal transportation costs and time, preserving product quality and extending shelf life. For species not available locally, imports must meet international standards including ISO 22000, HACCP, and Codex certifications.

Quality standards are strictly regulated with specific limits for salt content, histamine levels, mercury, cadmium, and lead. Suppliers undergo frequent inspections to ensure compliance. When sourcing, verify that suppliers provide documentation of these certifications and maintain cold chain integrity from catch to delivery.

Diversifying across multiple suppliers reduces risk from supply disruptions due to weather, seasonal variations, or regulatory issues. A balanced sourcing strategy might include 60% from regional wholesale markets, 30% from local fisheries, and 10% from specialty imports for premium products.

What regulatory requirements must a fish market meet?

Operating a fish market in Thailand requires product licensing from the Ministry of Public Health and compliance with comprehensive food safety regulations.

Mandatory certifications include HACCP (Hazard Analysis and Critical Control Points), GHP (Good Hygiene Practices), and GMP (Good Manufacturing Practices) for any processing, storage, or wholesale operations. Initial certification costs range from THB 50,000 to THB 150,000 depending on facility size and scope.

Food labeling requirements are extensive and must include product name in Thai, country of origin, batch or lot number, complete ingredient list, allergen warnings, manufacturing and expiration dates, storage instructions, and net weight. Import permits and sanitary certificates are required for any imported seafood products.

Cold storage facilities must maintain government-mandated temperature ranges with documented temperature logs. Fresh fish requires storage at 0-4°C, while frozen products must be kept at -18°C or below. Facility inspections occur regularly, and non-compliance can result in fines, license suspension, or closure.

Nutrition labeling is mandatory for certain packaged products. All staff handling seafood must complete food safety training and obtain health certificates renewed annually. Budget THB 3,000-5,000 per employee for initial training and certification.

How should a fish market manage cold chain logistics?

Cold chain management is the single most critical factor in maintaining product quality and minimizing losses in a fish market operation.

Continuous temperature control must begin at the point of catch or harvest and continue through transportation, storage, display, and sale. This requires investment in refrigerated transport vehicles (THB 150,000-400,000 for a suitable truck), commercial-grade refrigeration units (THB 200,000-500,000), and display cases with proper temperature monitoring (THB 80,000-200,000 per unit).

Ice management is essential for fresh fish display and transport. Calculate ice needs at approximately 1:1 ratio with fish weight for short-term storage and display. Refrigerated seawater systems offer advantages for live seafood and premium fresh fish, maintaining optimal temperature and extending product life by 2-3 days compared to ice alone.

Temperature monitoring systems with digital logging provide documentation for regulatory compliance and help identify cold chain breaks. Install sensors in all storage areas, transport vehicles, and display cases with automatic alerts when temperatures exceed safe ranges.

Staff training on proper handling techniques reduces spoilage significantly. This includes minimizing time outside refrigeration, avoiding temperature fluctuations, proper cleaning protocols, and FIFO (First In, First Out) rotation. Small and medium fish markets often experience 8-12% spoilage rates, but robust cold chain practices can reduce this to 3-5%.

This is one of the strategies explained in our fish market business plan.

Who are the target customers for a fish market?

Fish market customers span multiple segments with distinct purchasing behaviors and profitability profiles.

Which sales and marketing channels work best for fish markets?

Fish markets benefit from an omnichannel approach that combines traditional retail with digital platforms.

Physical storefront locations remain dominant, particularly in areas with high foot traffic near residential neighborhoods or traditional markets. Fresh markets capture customers who value seeing and selecting products personally, representing 60-70% of fish market sales in most locations.

Online channels are growing rapidly, with Gen X and younger consumers driving adoption. Develop a user-friendly website with clear product photos, current availability, and pricing. Partner with delivery platforms like GrabFood, Foodpanda, or LINE MAN to expand reach without building proprietary delivery infrastructure. Direct-to-consumer delivery and subscription services appeal to busy professionals and expatriates.

Social media marketing on Facebook, Instagram, and LINE proves highly effective for fish markets. Post daily fresh catch updates, cooking tips, recipes, and promotional offers. User-generated content showing customers' prepared meals creates authentic engagement and drives repeat purchases.

Restaurant partnerships provide steady, high-volume sales. Target mid-range to upscale establishments that prioritize ingredient quality. Offer dedicated account management, flexible delivery schedules, and consistent pricing to build long-term relationships.

Wholesale supply to smaller retailers, food vendors, and institutional buyers diversifies revenue streams. This channel typically operates on lower margins (5-12%) but provides reliable volume and reduces exposure to retail market fluctuations.

What are the typical operating costs for a fish market?

Understanding and managing operating costs determines profitability in the competitive fish market industry.

Rent varies dramatically by location—expect THB 30,000-80,000 monthly for a 50-100 sqm space in provincial areas, or THB 80,000-250,000+ in prime urban locations. Factor in common area charges and utilities when evaluating locations.

Labor costs typically represent 18-25% of revenue. A small fish market requires minimum 3-4 staff members: experienced fish handlers who can fillet and prepare products (THB 15,000-25,000 monthly), sales staff (THB 12,000-18,000 monthly), and delivery drivers if offering that service (THB 13,000-20,000 monthly). Include mandatory social security contributions and potential overtime costs.

Utilities are substantial due to refrigeration demands. Monthly electricity costs range from THB 20,000-60,000 depending on storage capacity and operating hours. Water usage for cleaning and ice production adds THB 3,000-8,000 monthly.

Equipment maintenance and replacement must be budgeted at 8-12% of equipment value annually. Refrigeration systems require regular servicing every 3-6 months (THB 5,000-15,000 per service). Display cases need cleaning and maintenance, and ice machines require descaling and sanitization.

Spoilage typically accounts for 3-12% of inventory value, with proper cold chain management achieving the lower end. This translates to THB 15,000-60,000 monthly losses for a fish market with THB 500,000 in monthly inventory turnover.

Packaging materials, cleaning supplies, and disposables cost THB 8,000-20,000 monthly. Transportation and logistics add THB 10,000-40,000 depending on sourcing distance and delivery services offered.

We cover this exact topic in the fish market business plan.

What pricing strategies ensure profitability for a fish market?

Successful fish market pricing balances competitiveness with sustainable margins while reflecting product positioning.

Cost-plus pricing forms the foundation—calculate total product cost including procurement, transportation, storage, and estimated spoilage, then apply markup percentages. Standard fresh seafood typically carries 35-50% markup, premium species command 50-75% markup, and processed items support 40-60% markup. Adjust based on local competitive pricing.

Market benchmark pricing requires monitoring competitor prices weekly. If local wholesale markets sell standard shrimp at THB 200/kg, your retail price must stay within THB 240-280/kg to remain competitive unless you provide clear value-added services like cleaning, delivery, or superior freshness.

Premium positioning strategies work for certified organic, sustainably caught, or traceable products. Customers willing to pay 10-15% premiums for these attributes require clear communication of the value proposition through signage, staff training, and marketing materials.

Dynamic pricing adjusts to supply and demand fluctuations. Reduce prices 10-20% on high-supply days to move inventory before quality declines. Increase prices modestly (5-10%) when supply constraints occur, but avoid excessive increases that damage customer relationships.

Bundle pricing and promotional offers drive volume—"THB 500 seafood variety pack" or "buy 2kg get 10% off" promotions increase average transaction value. Loyalty programs rewarding repeat customers with points or discounts build steady revenue streams.

How do seasonal fluctuations affect fish market operations?

Seasonal patterns significantly impact supply availability, pricing, and customer demand in the fish market business.

• Monsoon season (May-October) reduces fishing activity, particularly for ocean catches. Wild-caught species become scarce and prices increase 20-40% during peak monsoon months. Shift product mix toward aquaculture species (shrimp, tilapia, catfish) which maintain steadier supply, and increase frozen/processed inventory to maintain sales volume.
• Peak demand periods occur during Thai New Year (Songkran in April), Chinese New Year (January-February), and December holidays. Demand increases 40-60% during these periods. Pre-contract bulk purchases 2-3 weeks before holidays to secure supply at better prices and ensure availability when competitors face shortages.
• Hot season (March-May) creates challenges for cold chain management with higher ambient temperatures stressing refrigeration systems. Increase ice usage by 30-50%, perform preventive maintenance on all cooling equipment, and consider reducing inventory turnover time to minimize spoilage risk.
• Cool season (November-February) provides optimal conditions—better fishing activity, reduced spoilage rates, and stable supply. This is the time to maximize volume sales and build customer relationships for slower periods ahead.
• Buddhist holidays and lent periods when many Thai consumers avoid meat (but often continue eating fish) can increase demand for certain species by 15-25%. Stock accordingly and promote fish as the preferred protein during these periods.

Inventory management must adjust throughout the year. Maintain 3-5 days of inventory during stable periods, but reduce to 1-2 days during hot seasons when spoilage risk increases. Pre-order frozen backup inventory before anticipated supply constraints.

What technology tools optimize fish market operations?

Modern technology dramatically improves efficiency, reduces waste, and increases profitability for fish market businesses.

Inventory management systems track stock levels in real-time, monitor spoilage patterns, and generate automated reorder alerts when products reach minimum thresholds. Cloud-based solutions like Zoho Inventory, TradeGecko (now QuickBooks Commerce), or specialized seafood management software cost THB 1,500-8,000 monthly but reduce inventory holding costs by 15-25% and spoilage by up to 40%.

Point-of-sale (POS) systems integrated with inventory management provide comprehensive sales analytics. Systems like Square, Lightspeed, or local solutions like ThaiBulk cost THB 3,000-15,000 for hardware plus THB 1,000-5,000 monthly subscription fees. Track which species sell best, identify peak sales hours, analyze customer purchasing patterns, and optimize staff scheduling based on data.

Temperature monitoring IoT sensors installed in refrigeration units, storage areas, and transport vehicles provide 24/7 oversight with automatic alerts if temperatures deviate from safe ranges. Investment of THB 15,000-50,000 in monitoring systems prevents costly losses from cold chain failures and provides documentation for regulatory compliance.

E-commerce platforms expand market reach beyond physical location. Build a dedicated website using Shopify, WooCommerce, or LINE OA integration (THB 800-3,000 monthly) to capture online orders. Include real-time inventory updates, product photos, and delivery scheduling functionality.

Traceability systems using QR codes or blockchain technology meet regulatory requirements and appeal to premium customers. Customers scan codes to view catch location, date, handling chain, and certifications. Implementation costs THB 20,000-80,000 but supports 10-15% price premiums on traced products.

It's a key part of what we outline in the fish market business plan.

Conclusion

This article is for informational purposes only and should not be considered financial advice. Readers are encouraged to consult with a qualified professional before making any investment decisions. We accept no liability for any actions taken based on the information provided.

Sources

1. Statista - Thailand Fish & Seafood Market
2. SEAFDEC - Fisheries Country Profile Thailand
3. ESSFEED - Top 10 Seafood Markets in Thailand
4. SEAFDEC - Guidelines on Cold Chain Management
5. Siam Development - Food Quality Standard Certifications in Thailand
6. GSC Online Press - Factors Influencing Fresh Seafood Online Purchase
7. Yamada Spire - Cold Chain Logistics Industry
8. Tilleke & Gibbins - Thailand Food Labeling Requirements
9. Business Events Thailand - Seafood Industry Intelligence
10. Thai Union Group - Risk Factors Report