Philippines: Market for Crabs and Crab Meat 2024

Market Size for Crabs and Crab Meat in the Philippines

In 2021, after three years of growth, there was significant decline in the Philippine crab and crab meat market, when its value decreased by -10.4% to $X. In general, consumption, however, recorded a strong increase. Crab and crab meat consumption peaked at $X in 2020, and then declined in the following year.

Production of Crabs and Crab Meat in the Philippines

In value terms, crab and crab meat production fell to $X in 2021 estimated in export price. Over the period under review, production, however, recorded prominent growth. The pace of growth was the most pronounced in 2014 when the production volume increased by 64%. Crab and crab meat production peaked at $X in 2020, and then declined in the following year.

Exports of Crabs and Crab Meat

Exports from the Philippines

In 2021, shipments abroad of crabs and crab meat increased by 3.2% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of 36% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, crab and crab meat exports skyrocketed to $X in 2021. Overall, exports, however, saw a perceptible downturn. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main destinations of crab and crab meat exports from the Philippines, with a combined 93% share of total exports. Singapore, Guam, Macao SAR and the United States lagged somewhat behind, together accounting for a further 6.7%.

From 2012 to 2021, the biggest increases were recorded for Guam (with a CAGR of +8.2%), while shipments for the other leaders experienced a decline.

In value terms, Hong Kong SAR ($X), China ($X) and Taiwan (Chinese) ($X) appeared to be the largest markets for crab and crab meat exported from the Philippines worldwide, together comprising 93% of total exports. Singapore, Guam, Macao SAR and the United States lagged somewhat behind, together comprising a further 5.6%.

In terms of the main countries of destination, Guam, with a CAGR of +23.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average crab and crab meat export price stood at $X per ton in 2021, rising by 71% against the previous year. In general, the export price recorded a remarkable increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Guam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Guam (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crabs and Crab Meat

Imports into the Philippines

For the fifth year in a row, the Philippines recorded decline in supplies from abroad of crabs and crab meat, which decreased by -93.5% to X kg in 2021. Overall, imports continue to indicate a precipitous descent. The pace of growth appeared the most rapid in 2016 when imports increased by 730%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, crab and crab meat imports shrank sharply to $X in 2021. Over the period under review, imports faced a sharp decrease. The most prominent rate of growth was recorded in 2016 with an increase of 394%. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Thailand (X kg), Taiwan (Chinese) (X kg) and Japan (X kg) were the main suppliers of crab and crab meat imports to the Philippines, with a combined 84% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +29.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Thailand ($X), Taiwan (Chinese) ($X) and Japan ($X) appeared to be the largest crab and crab meat suppliers to the Philippines, together accounting for 84% of total imports.

Taiwan (Chinese), with a CAGR of +33.2%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average crab and crab meat import price stood at $X per ton in 2021, growing by 36% against the previous year. Overall, the import price continues to indicate prominent growth. The pace of growth was the most pronounced in 2019 when the average import price increased by 89%. Over the period under review, average import prices hit record highs in 2021 and is likely to see gradual growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Canada ($X per ton) and Japan ($X per ton), while the price for Taiwan (Chinese) ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+22.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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