Australia: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in Australia

In 2022, the Australian frozen crustaceans market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption continues to indicate tangible growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Frozen Crustaceans Exports

Exports from Australia

In 2022, frozen crustaceans exports from Australia contracted rapidly to X tons, which is down by X% on the year before. In general, exports showed a deep downturn. The growth pace was the most rapid in 2019 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, frozen crustaceans exports declined dramatically to $X in 2022. Overall, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of X%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), the United States (X tons) and Thailand (X tons) were the main destinations of frozen crustaceans exports from Australia, with a combined X% share of total exports. Taiwan (Chinese), New Zealand, Japan, Hong Kong SAR, Greece, Canada, Vietnam, Italy, France and Malaysia lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest markets for frozen crustaceans exported from Australia were the United States ($X), China ($X) and Taiwan (Chinese) ($X), with a combined X% share of total exports. New Zealand, Thailand, Japan, Greece, Italy, France, Hong Kong SAR, Vietnam, Canada and Malaysia lagged somewhat behind, together comprising a further X%.

Italy, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average frozen crustaceans export price stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price recorded strong growth. 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 for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Crustaceans Imports

Imports into Australia

In 2022, overseas purchases of frozen crustaceans increased by X% to X tons, rising for the second year in a row after four years of decline. In general, imports, however, recorded a slight slump. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, frozen crustaceans imports skyrocketed to $X in 2022. Overall, total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest supplier of frozen crustaceans to Australia, with a X% share of total imports. Moreover, frozen crustaceans imports from Vietnam exceeded the figures recorded by the second-largest supplier, Thailand (X tons), sixfold. China (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Vietnam stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and China (X% per year).

In value terms, Vietnam ($X) constituted the largest supplier of frozen crustaceans to Australia, comprising X% of total imports. The second position in the ranking was held by Thailand ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Vietnam totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average frozen crustaceans import price amounted to $X per ton, growing by X% against the previous year. Overall, import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen crustaceans import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Tunisia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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