Australia and Oceania: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in Australia and Oceania

The frozen norway lobster market in Australia and Oceania was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption posted resilient growth. Over the period under review, the market attained the maximum level in 2022 and is likely to continue growth in years to come.

Frozen Norway Lobster Production in Australia and Oceania

In value terms, frozen norway lobster production expanded sharply to $X in 2022 estimated in export price. The total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.0% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 35%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Frozen Norway Lobster Exports

Exports in Australia and Oceania

In 2022, after two years of growth, there was significant decline in overseas shipments of frozen norway lobsters, when their volume decreased by -53.8% to X tons. In general, exports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 659% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, frozen norway lobster exports reduced to $X in 2022. Overall, exports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of 583% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

New Zealand represented the largest exporter of frozen norway lobsters in Australia and Oceania, with the volume of exports accounting for X tons, which was near 65% of total exports in 2022. It was distantly followed by Australia (X tons), creating a 35% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +165.9%).

In value terms, New Zealand ($X) emerged as the largest frozen norway lobster supplier in Australia and Oceania, comprising 79% of total exports. The second position in the ranking was held by Australia ($X), with a 21% share of total exports.

In New Zealand, frozen norway lobster exports increased at an average annual rate of +9.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per ton, growing by 90% against the previous year. Export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export 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 exporting countries. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Australia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+4.2%).

Frozen Norway Lobster Imports

Imports in Australia and Oceania

In 2022, supplies from abroad of frozen norway lobsters was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports saw a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 3,242% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen norway lobster imports soared to $X in 2022. In general, imports saw a significant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 1,395%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Australia dominates imports structure, recording X tons, which was approx. 86% of total imports in 2022. It was distantly followed by New Zealand (X tons), committing a 7.1% share of total imports. French Polynesia (X tons) and New Caledonia (X tons) followed a long way behind the leaders.

Australia was also the fastest-growing in terms of the frozen norway lobsters imports, with a CAGR of +94.1% from 2012 to 2022. At the same time, New Zealand (+56.8%), New Caledonia (+27.0%) and French Polynesia (+21.5%) displayed positive paces of growth. While the share of Australia (+72 p.p.) and New Zealand (+7.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of New Caledonia (-22.6 p.p.) and French Polynesia (-57.8 p.p.) displayed negative dynamics.

In value terms, Australia ($X) constitutes the largest market for imported frozen norway lobsters in Australia and Oceania, comprising 65% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 20% share of total imports. It was followed by French Polynesia, with an 8.6% share.

In Australia, frozen norway lobster imports expanded at an average annual rate of +59.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: New Zealand (+113.8% per year) and French Polynesia (+20.2% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, reducing by -61% against the previous year. Over the period under review, the import price saw a deep setback. The most prominent rate of growth was recorded in 2016 an increase of 52%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was New Zealand ($X per ton), while Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+36.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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