Asia: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in Asia

In 2022, the Asian frozen crustaceans market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Frozen Crustaceans Production in Asia

In value terms, frozen crustaceans production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Frozen Crustaceans Exports

Exports in Asia

In 2022, the amount of frozen crustaceans exported in Asia declined to X tons, shrinking by X% against the year before. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then shrank in the following year.

In value terms, frozen crustaceans exports reduced modestly to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The level of export peaked at $X in 2021, and then reduced in the following year.

Exports by Country

India represented the key exporting country with an export of about X tons, which accounted for X% of total exports. Vietnam (X tons) ranks second in terms of the total exports with an X% share, followed by Indonesia (X%), China (X%) and Thailand (X%). Bangladesh (X tons) and Myanmar (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the frozen crustaceans exports, with a CAGR of X% from 2012 to 2022. At the same time, Vietnam (X%), Bangladesh (X%), Indonesia (X%) and Myanmar (X%) displayed positive paces of growth. By contrast, China (X%) and Thailand (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India and Vietnam increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest frozen crustaceans supplying countries in Asia were India ($X), Vietnam ($X) and Indonesia ($X), together comprising X% of total exports.

India, with a CAGR of X%, recorded 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 Asia amounted to $X per ton, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Bangladesh ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

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

Frozen Crustaceans Imports

Imports in Asia

In 2022, imports of frozen crustaceans in Asia soared to X tons, with an increase of X% compared with 2021 figures. In general, imports recorded a buoyant increase. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, frozen crustaceans imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China was the major importer of frozen crustaceans in Asia, with the volume of imports recording X tons, which was near X% of total imports in 2022. Japan (X tons) ranks second in terms of the total imports with a X% share, followed by South Korea (X%). Vietnam (X tons), Taiwan (Chinese) (X tons), Thailand (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the frozen crustaceans imports, with a CAGR of X% from 2012 to 2022. At the same time, Thailand (X%) and South Korea (X%) displayed positive paces of growth. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%), Japan (X%) and Vietnam (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (X p.p.), Hong Kong SAR (X p.p.), Taiwan (Chinese) (X p.p.), Vietnam (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported frozen crustaceans in Asia, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China stood at X%. In the other countries, the average annual rates were as follows: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Japan ($X per ton), while Thailand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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