Eastern Asia: Market for Frozen Crabs And Crabs Meat 2024

Market Size for Frozen Crabs And Crabs Meat in Eastern Asia

For the third consecutive year, the East Asian market for frozen crabs and crabs meat recorded decline in sales value, which decreased by -1.1% to $X in 2021. Over the period under review, consumption showed a noticeable decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Frozen Crabs And Crabs Meat in Eastern Asia

In value terms, frozen crab and crab meat production contracted to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by 18% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Exports of Frozen Crabs And Crabs Meat

Exports in Eastern Asia

In 2021, frozen crab and crab meat exports in Eastern Asia expanded sharply to X tons, picking up by 5.6% compared with 2020 figures. The total export volume increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when exports increased by 14%. The volume of export peaked at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen crab and crab meat exports expanded significantly to $X in 2021. Over the period under review, exports, however, continue to indicate a mild downturn. The pace of growth was the most pronounced in 2014 with an increase of 17% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, China (X tons) represented the largest exporter of frozen crabs and crabs meat, comprising 65% of total exports. It was distantly followed by Democratic People's Republic of Korea (X tons), achieving a 29% share of total exports. South Korea (X tons) and Japan (X tons) took a relatively small share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of frozen crabs and crabs meat. At the same time, Democratic People's Republic of Korea (+43.9%) and Japan (+1.7%) displayed positive paces of growth. Moreover, Democratic People's Republic of Korea emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +43.9% from 2012-2021. By contrast, South Korea (-10.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Democratic People's Republic of Korea increased by +28 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest frozen crab and crab meat supplier in Eastern Asia, comprising 77% of total exports. The second position in the ranking was taken by Democratic People's Republic of Korea ($X), with a 12% share of total exports. It was followed by South Korea, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Democratic People's Republic of Korea (+40.0% per year) and South Korea (-9.7% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, growing by 6.2% against the previous year. Overall, the export price, however, continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2014 an increase of 7.6%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while Democratic People's Republic of Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+3.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Frozen Crabs And Crabs Meat

Imports in Eastern Asia

For the fifth year in a row, Eastern Asia recorded decline in purchases abroad of frozen crabs and crabs meat, which decreased by -5.8% to X tons in 2021. In general, imports continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2014 with an increase of 9.5%. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, frozen crab and crab meat imports skyrocketed to $X in 2021. Overall, imports continue to indicate a noticeable decrease. The pace of growth was the most pronounced in 2014 with an increase of 23% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

South Korea (X tons), Japan (X tons) and China (X tons) represented roughly 92% of total imports in 2021. It was distantly followed by Taiwan (Chinese) (X tons), comprising a 5.1% share of total imports. Hong Kong SAR (X tons) held a little share of total imports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of -3.1%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Japan ($X) constitutes the largest market for imported frozen crabs and crabs meat in Eastern Asia, comprising 59% of total imports. The second position in the ranking was held by China ($X), with a 19% share of total imports. It was followed by South Korea, with a 16% share.

In Japan, frozen crab and crab meat imports shrank by an average annual rate of -1.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: China (-1.1% per year) and South Korea (-4.7% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, growing by 30% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+8.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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