Hong Kong SAR, China: Crabs, Not Frozen Market 2024

Crabs, Not Frozen Market Size in Hong Kong SAR, China

The Hong Kong crabs, not frozen market was finally on the rise to reach $X in 2022, after five years of decline. Overall, consumption, however, showed a abrupt contraction. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Crabs, Not Frozen Exports

Exports from Hong Kong SAR, China

In 2022, after eight years of decline, there was significant growth in shipments abroad of crabs, not frozen, when their volume increased by 5.8% to X tons. Over the period under review, exports, however, continue to indicate a significant contraction. The pace of growth appeared the most rapid in 2013 when exports increased by 279%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, crabs, not frozen exports stood at $X in 2022. In general, exports, however, showed a deep reduction. The pace of growth was the most pronounced in 2013 with an increase of 221% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for crabs, not frozen exports from Hong Kong SAR, accounting for a 58% share of total exports. Moreover, crabs, not frozen exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. Canada (X kg) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to -30.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-0.5% per year) and Canada (+2.4% per year).

In value terms, China ($X) remains the key foreign market for crabs, not frozen exports from Hong Kong SAR, comprising 54% of total exports. The second position in the ranking was held by Macao SAR ($X), with a 16% share of total exports. It was followed by Vietnam, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at -19.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (-15.7% per year) and Vietnam (+4.5% per year).

Export Prices by Country

The average crabs, not frozen export price stood at $X per ton in 2022, declining by -4.3% against the previous year. In general, the export price, however, saw a prominent increase. The growth pace was the most rapid in 2017 an increase of 85% against the previous year. The export price peaked at $X per ton in 2021, and then dropped slightly in the following year.

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 Singapore ($X per ton), while the average price for exports to Vietnam ($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 Singapore (+17.3%), while the prices for the other major destinations experienced more modest paces of growth.

Crabs, Not Frozen Imports

Imports into Hong Kong SAR, China

In 2022, overseas purchases of crabs, not frozen were finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. Overall, imports, however, saw a noticeable curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by 38% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, crabs, not frozen imports rose slightly to $X in 2022. In general, imports, however, saw a abrupt curtailment. The growth pace was the most rapid in 2014 when imports increased by 36% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, the Philippines (X tons) constituted the largest crabs, not frozen supplier to Hong Kong SAR, with a 33% share of total imports. Moreover, crabs, not frozen imports from the Philippines exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. China (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from the Philippines totaled -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+17.0% per year) and China (-8.4% per year).

In value terms, South Korea ($X), the Philippines ($X) and China ($X) appeared to be the largest crabs, not frozen suppliers to Hong Kong SAR, with a combined 86% share of total imports.

Among the main suppliers, South Korea, with a CAGR of +7.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average crabs, not frozen import price stood at $X per ton in 2022, almost unchanged from the previous year. Over the period under review, the import price, however, showed a drastic downturn. The pace of growth appeared the most rapid in 2013 when the average import price increased by 31% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, 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 South Korea ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (-2.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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