Eastern Asia: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in Eastern Asia

In 2022, the East Asian 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% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Frozen Crustaceans Production in Eastern Asia

In value terms, frozen crustaceans production expanded slightly to $X in 2022 estimated in export price. In general, production, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2020 with an increase of X%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Frozen Crustaceans Exports

Exports in Eastern Asia

In 2022, frozen crustaceans exports in Eastern Asia declined rapidly to X tons, waning by X% against the year before. Overall, exports showed a deep setback. The pace of growth was the most pronounced in 2016 with an increase of X%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, frozen crustaceans exports reduced to $X in 2022. Over the period under review, exports showed a drastic downturn. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China dominates exports structure, recording X tons, which was approx. X% of total exports in 2022. It was distantly followed by South Korea (X tons), generating a X% share of total exports. The following exporters - Japan (X tons) and Hong Kong SAR (X tons) - each finished at a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to frozen crustaceans exports from China stood at X%. At the same time, Japan (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. South Korea (X p.p.) and Japan (X p.p.) significantly strengthened its position in terms of the total exports, while China and Hong Kong SAR saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, China ($X) remains the largest frozen crustaceans supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to X%. In the other countries, the average annual rates were as follows: South Korea (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Japan ($X per ton) and South Korea ($X per ton), while China ($X per ton) and Hong Kong SAR ($X per ton) were 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.

Frozen Crustaceans Imports

Imports in Eastern Asia

In 2022, approx. X tons of frozen crustaceans were imported in Eastern Asia; increasing by X% against the previous year's figure. In general, imports saw a prominent increase. The growth pace was the most rapid in 2019 with an increase of X%. The volume of import peaked in 2022 and is likely to continue growth in the near future.

In value terms, frozen crustaceans imports skyrocketed to $X in 2022. Overall, imports posted a resilient increase. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

China represented the largest importer of frozen crustaceans in Eastern Asia, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. Japan (X tons) held the second position in the ranking, followed by South Korea (X tons). All these countries together held approx. X% share of total imports. The following importers - Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) - together made up X% of total imports.

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, South Korea (X%) displayed positive paces of growth. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%) and Japan (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.) and Japan (X p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported frozen crustaceans in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by South Korea, with an X% share.

In China, frozen crustaceans imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, surging by X% against the previous year. In general, the import price, however, showed a slight setback. The growth pace was the most rapid in 2016 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 ($X per ton), while China ($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

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