ASEAN: Frozen Lobster Market 2025

Frozen Lobster Market Size in ASEAN

In 2022, the ASEAN frozen lobster market increased by 51% to $X, rising for the second year in a row after four years of decline. Over the period under review, consumption, however, showed a slight setback. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Frozen Lobster Production in ASEAN

In value terms, frozen lobster production declined slightly to $X in 2022 estimated in export price. Overall, production showed a perceptible slump. The pace of growth appeared the most rapid in 2018 when the production volume increased by 63%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Frozen Lobster Exports

Exports in ASEAN

After five years of decline, shipments abroad of frozen lobster increased by 21% to X tons in 2022. In general, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 60% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen lobster exports soared to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 49%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Indonesia (X tons), distantly followed by Malaysia (X tons), Singapore (X tons) and Myanmar (X tons) were the largest exporters of frozen lobster, together constituting 99% of total exports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +17.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Indonesia ($X) and Malaysia ($X) were the countries with the highest levels of exports in 2022, together accounting for 90% of total exports.

Malaysia, with a CAGR of +20.2%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, remaining constant against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by 44% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+4.5%), while the other leaders experienced more modest paces of growth.

Frozen Lobster Imports

Imports in ASEAN

In 2022, after five years of decline, there was significant growth in supplies from abroad of frozen lobster, when their volume increased by 109% to X tons. Over the period under review, imports, however, recorded a mild reduction. The most prominent rate of growth was recorded in 2013 with an increase of 184% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, frozen lobster imports surged to $X in 2022. In general, imports enjoyed a noticeable expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 208% against the previous year. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Singapore (X tons) represented the largest importer of frozen lobster, creating 58% of total imports. Malaysia (X tons) ranks second in terms of the total imports with a 19% share, followed by Thailand (16%) and Vietnam (5.3%). The Philippines (X tons) took a relatively small share of total imports.

Imports into Singapore increased at an average annual rate of +12.3% from 2012 to 2022. At the same time, the Philippines (+24.1%), Thailand (+14.7%) and Malaysia (+4.3%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in ASEAN, with a CAGR of +24.1% from 2012-2022. By contrast, Vietnam (-23.7%) illustrated a downward trend over the same period. Singapore (+42 p.p.), Thailand (+12 p.p.), Malaysia (+8 p.p.) and the Philippines (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Vietnam saw its share reduced by -63.3% from 2012 to 2022, respectively.

In value terms, Singapore ($X) constitutes the largest market for imported frozen lobster in ASEAN, comprising 64% of total imports. The second position in the ranking was taken by Thailand ($X), with a 20% share of total imports. It was followed by Malaysia, with an 8.5% share.

From 2012 to 2022, the average annual growth rate of value in Singapore stood at +16.1%. In the other countries, the average annual rates were as follows: Thailand (+12.5% per year) and Malaysia (+1.3% per year).

Import Prices by Country

In 2022, the import price in ASEAN amounted to $X per ton, with an increase of 19% against the previous year. Import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen lobster import price increased by +80.7% against 2014 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+13.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform