Asia-Pacific: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in Asia-Pacific

In 2022, the Asia-Pacific frozen crustaceans market increased by X% to $X, rising for the second consecutive year 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 relatively stable, 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-Pacific

In value terms, frozen crustaceans production declined modestly to $X in 2022 estimated in export price. Overall, production, however, showed a slight expansion. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. 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-Pacific

In 2022, exports of frozen crustaceans in Asia-Pacific contracted to X tons, falling by X% compared with 2021. 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 most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then contracted in the following year.

In value terms, frozen crustaceans exports contracted slightly to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

India represented the key exporter of frozen crustaceans in Asia-Pacific, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. Vietnam (X tons) took the second position in the ranking, followed by Indonesia (X tons), China (X tons) and Thailand (X tons). All these countries together held near X% share of total exports. Bangladesh (X tons) and Myanmar (X tons) took a relatively small share of total exports.

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-Pacific were India ($X), Vietnam ($X) and Indonesia ($X), together accounting for X% of total exports.

India, with a CAGR of X%, saw the highest rates of growth with regard to 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-Pacific amounted to $X per ton, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a 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 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-Pacific

In 2022, the amount of frozen crustaceans imported in Asia-Pacific soared to X tons, picking up by X% compared with 2021 figures. In general, imports saw a remarkable increase. The most prominent rate of growth was recorded in 2019 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, frozen crustaceans imports soared to $X in 2022. Over the period under review, imports saw a resilient expansion. The pace of growth was the most pronounced in 2019 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) was the key importer of frozen crustaceans, generating X% of total imports. Japan (X tons) held the second position in the ranking, followed by South Korea (X tons). All these countries together took near X% share of total imports. 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 ($X) constitutes the largest market for imported frozen crustaceans in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

In China, frozen crustaceans imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum 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

Frequently Asked Questions (FAQ) :