Bangladesh: Market for Crabs and Crab Meat 2024

Market Size for Crabs and Crab Meat in Bangladesh

The Bangladeshi crab and crab meat market expanded notably to $X in 2021, surging by 5.1% against the previous year. Over the period under review, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.1% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Production of Crabs and Crab Meat in Bangladesh

In value terms, crab and crab meat production rose rapidly to $X in 2021 estimated in export price. Over the period under review, the total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -9.7% against 2019 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 38%. Crab and crab meat production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Crabs and Crab Meat

Exports from Bangladesh

In 2021, overseas shipments of crabs and crab meat increased by 59% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, total exports indicated slight growth from 2012 to 2021: its volume increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -13.9% against 2017 indices. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, crab and crab meat exports surged to $X in 2021. Overall, total exports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -25.4% against 2018 indices. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X tons), Thailand (X tons) and Malaysia (X tons) were the main destinations of crab and crab meat exports from Bangladesh, with a combined 60% share of total exports. These countries were followed by China, the United States and Taiwan (Chinese), which together accounted for a further 11%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +62.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for crab and crab meat exported from Bangladesh were Hong Kong SAR ($X), Thailand ($X) and the United States ($X), with a combined 54% share of total exports.

Among the main countries of destination, the United States, with a CAGR of +72.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average crab and crab meat export price amounted to $X per ton, reducing by -10.3% against the previous year. In general, export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, crab and crab meat export price decreased by -16.7% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 54%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, 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 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crabs and Crab Meat

Imports into Bangladesh

After two years of growth, supplies from abroad of crabs and crab meat decreased by -43.7% to X tons in 2021. Over the period under review, imports, however, enjoyed a resilient increase. The growth pace was the most rapid in 2020 with an increase of 193%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, crab and crab meat imports surged to $X in 2021. In general, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2016 when imports increased by 409% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Pakistan (X tons) constituted the largest crab and crab meat supplier to Bangladesh, with a 88% share of total imports. Moreover, crab and crab meat imports from Pakistan exceeded the figures recorded by the second-largest supplier, Myanmar (X kg), tenfold.

From 2012 to 2021, the average annual growth rate of volume from Pakistan amounted to -30.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Myanmar (-15.0% per year) and Malaysia (+11.6% per year).

In value terms, Pakistan ($X) constituted the largest supplier of crabs and crab meat to Bangladesh, comprising 64% of total imports. The second position in the ranking was taken by Myanmar ($X), with an 18% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Pakistan totaled +24.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Myanmar (-3.5% per year) and Malaysia (+42.4% per year).

Import Prices by Country

In 2021, the average crab and crab meat import price amounted to $X per ton, rising by 111% against the previous year. In general, the import price recorded a buoyant increase. Over the period under review, average import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Pakistan (+79.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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