Report Update Nov 1, 2024

Hong Kong SAR, China - Frozen Lobster - Market Analysis, Forecast, Size, Trends and Insights

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Hong Kong SAR, China: Frozen Lobster Market 2024

Frozen Lobster Market Size in Hong Kong SAR, China

In 2022, the Hong Kong frozen lobster market increased by 14% to $X, rising for the second year in a row after three years of decline. In general, consumption, however, continues to indicate a relatively flat trend pattern. Frozen lobster consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Frozen Lobster Exports

Exports from Hong Kong SAR, China

In 2022, the amount of frozen lobster exported from Hong Kong SAR fell to X tons, declining by -6.4% on the previous year's figure. In general, exports saw a abrupt setback. The pace of growth appeared the most rapid in 2018 with an increase of 105% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen lobster exports expanded significantly to $X in 2022. Overall, exports recorded a deep setback. The growth pace was the most rapid in 2018 with an increase of 92% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Macao SAR (X tons) was the main destination for frozen lobster exports from Hong Kong SAR, with a 96% share of total exports. Moreover, frozen lobster exports to Macao SAR exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Macao SAR stood at +2.6%.

In value terms, Macao SAR ($X) remains the key foreign market for frozen lobster exports from Hong Kong SAR, comprising 98% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 1.5% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Macao SAR totaled +14.3%.

Export Prices by Country

The average frozen lobster export price stood at $X per ton in 2022, rising by 16% against the previous year. Over the last decade, it increased at an average annual rate of +5.8%. The most prominent rate of growth was recorded in 2013 an increase of 49%. Over the period under review, the average export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Macao SAR ($X per ton), while the average price for exports to Taiwan (Chinese) stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Macao SAR (+11.4%), while the prices for the other major destinations experienced mixed trend patterns.

Frozen Lobster Imports

Imports into Hong Kong SAR, China

In 2022, approx. X tons of frozen lobster were imported into Hong Kong SAR; declining by -6.3% compared with the previous year's figure. In general, imports saw a abrupt contraction. The growth pace was the most rapid in 2021 when imports increased by 41%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, frozen lobster imports skyrocketed to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 38%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Canada (X tons) constituted the largest frozen lobster supplier to Hong Kong SAR, with a 48% share of total imports. Moreover, frozen lobster imports from Canada exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold. The third position in this ranking was taken by Australia (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Canada stood at -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-13.7% per year) and Australia (+15.3% per year).

In value terms, the largest frozen lobster suppliers to Hong Kong SAR were Canada ($X), the United States ($X) and Australia ($X), together accounting for 69% of total imports. The United Arab Emirates, China, France and India lagged somewhat behind, together comprising a further 26%.

France, with a CAGR of +21.9%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average frozen lobster import price stood at $X per ton in 2022, growing by 29% against the previous year. In general, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen lobster import price increased by +80.4% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for frozen lobster in the world?

The United States remains the largest frozen lobster consuming country worldwide, comprising approx. 45% of total volume. Moreover, frozen lobster consumption in the United States exceeded the figures recorded by the second-largest consumer, Canada, threefold. China ranked third in terms of total consumption with a 5.6% share.

What are the largest producers of frozen lobster in the world?

The country with the largest volume of frozen lobster production was Canada, comprising approx. 89% of total volume. It was followed by India, with a 2.3% share of total production.

What are the leading suppliers of frozen lobster to Hong Kong SAR, China?

In value terms, Canada constituted the largest supplier of frozen lobster to Hong Kong SAR, comprising 83% of total imports. The second position in the ranking was occupied by the United States, with a 17% share of total imports.

What are the leading importers of frozen lobster from Hong Kong SAR, China?

In value terms, Macao SAR remains the key foreign market for frozen lobster exports from Hong Kong SAR, comprising 89% of total exports. The second position in the ranking was occupied by Vietnam, with a 10% share of total exports.

What is the average export price for frozen lobster in Hong Kong SAR, China?

The average frozen lobster export price stood at $14,697 per ton in 2021, remaining constant against the previous year.

What is the average import price for frozen lobster in Hong Kong SAR, China?

The average frozen lobster import price stood at $19,396 per ton in 2021, increasing by 38% against the previous year.

This report provides an in-depth analysis of the frozen lobster market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Hong Kong SAR

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hong Kong SAR, China
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

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While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023