China: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in China

In 2022, the Chinese frozen crustaceans market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, the total consumption indicated prominent 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, consumption increased by X% against 2020 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Frozen Crustaceans Production in China

In value terms, frozen crustaceans production stood at $X in 2022 estimated in export price. Over the period under review, production, however, showed a abrupt curtailment. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Frozen crustaceans production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Frozen Crustaceans Exports

Exports from China

In 2022, the amount of frozen crustaceans exported from China contracted rapidly to X tons, declining by X% against 2021. Overall, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2016 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, frozen crustaceans exports reduced to $X in 2022. Over the period under review, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons), South Korea (X tons) and Spain (X tons) were the main destinations of frozen crustaceans exports from China, together comprising X% of total exports. Russia, the United States, Portugal, Chile and Malaysia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Chile (with a CAGR of X%), while the other leaders experienced a decline.

In value terms, Japan ($X) remains the key foreign market for frozen crustaceans exports from China, comprising X% of total exports. The second position in the ranking was held by Spain ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the average frozen crustaceans export price amounted to $X per ton, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2017 an increase of X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to South Korea ($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 Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Crustaceans Imports

Imports into China

In 2022, approx. X tons of frozen crustaceans were imported into China; jumping by X% against 2021. Overall, imports saw a significant increase. The growth pace was the most rapid in 2019 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, frozen crustaceans imports skyrocketed to $X in 2022. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Ecuador (X tons) constituted the largest supplier of frozen crustaceans to China, accounting for a X% share of total imports. Moreover, frozen crustaceans imports from Ecuador exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. Canada (X tons) ranked third in terms of total imports with a X% share.

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

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

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

Import Prices by Country

In 2022, the average frozen crustaceans import price 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 2016 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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