Portugal: Market for Frozen Crabs And Crabs Meat 2024

Market Size for Frozen Crabs And Crabs Meat in Portugal

The Portuguese market for frozen crabs and crabs meat skyrocketed to $X in 2021, jumping by 24% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -22.5% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Frozen Crabs And Crabs Meat

Exports from Portugal

In 2021, overseas shipments of frozen crabs and crabs meat increased by 32% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +9.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 38%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, frozen crab and crab meat exports surged to $X in 2021. Over the period under review, exports posted a strong expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 67% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X tons) was the main destination for frozen crab and crab meat exports from Portugal, with a 84% share of total exports. Moreover, frozen crab and crab meat exports to Spain exceeded the volume sent to the second major destination, Switzerland (X tons), more than tenfold. France (X tons) ranked third in terms of total exports with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain totaled +9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+9.6% per year) and France (+36.4% per year).

In value terms, Spain ($X) remains the key foreign market for frozen crabs and crabs meat exports from Portugal, comprising 89% of total exports. The second position in the ranking was taken by Switzerland ($X), with a 3.6% share of total exports. It was followed by France, with a 1.5% share.

From 2012 to 2021, the average annual growth rate of value to Spain amounted to +13.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+14.1% per year) and France (+36.3% per year).

Export Prices by Country

In 2021, the average export price for frozen crabs and crabs meat amounted to $X per ton, dropping by -11.8% against the previous year. Overall, export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen crab and crab meat export price decreased by -17.0% against 2019 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by 31%. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Germany ($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 South Africa (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Crabs And Crabs Meat

Imports into Portugal

Frozen crab and crab meat imports into Portugal soared to X tons in 2021, growing by 21% on the previous year. The total import volume increased at an average annual rate of +4.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of 39%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, frozen crab and crab meat imports skyrocketed to $X in 2021. In general, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -9.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 44% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, France (X tons) constituted the largest frozen crab and crab meat supplier to Portugal, accounting for a 56% share of total imports. Moreover, frozen crab and crab meat imports from France exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold. The third position in this ranking was held by Ireland (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France totaled +42.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+3.4% per year) and Ireland (-4.4% per year).

In value terms, France ($X) constituted the largest supplier of frozen crabs and crabs meat to Portugal, comprising 56% of total imports. The second position in the ranking was held by Spain ($X), with an 18% share of total imports. It was followed by Ireland, with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France stood at +42.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+7.8% per year) and Ireland (-3.7% per year).

Import Prices by Country

The average import price for frozen crabs and crabs meat stood at $X per ton in 2021, with an increase of 10% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.5%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 23% against the previous year. Over the period under review, average import prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Mozambique ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mauritania (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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