Puerto Rico: Market for Frozen Crabs And Crabs Meat 2024

Market Size for Frozen Crabs And Crabs Meat in Puerto Rico

The Puerto Rican market for frozen crabs and crabs meat amounted to less than $X in 2021, flattening at 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). In general, consumption saw a relatively flat trend pattern.

Exports of Frozen Crabs And Crabs Meat

Exports from Puerto Rico

In 2021, exports of frozen crabs and crabs meat from Puerto Rico amounted to less than X kg, remaining constant against the previous year. Over the period under review, exports continue to indicate a relatively flat trend pattern.

In value terms, frozen crab and crab meat exports totaled less than $X in 2021. In general, exports saw a relatively flat trend pattern.

Exports by Country

In 2021, Canada (X tons), Russia (X tons) and China (X tons) represented the key exporter of frozen crabs and crabs meat in the world, constituting 58% of total export. It was distantly followed by Democratic People's Republic of Korea (X tons), constituting a 5.8% share of total exports. Bahrain (X tons), the United States (X tons), Tunisia (X tons), Pakistan (X tons), Norway (X tons), Myanmar (X tons), Chile (X tons), Namibia (X tons) and Hong Kong SAR (X tons) took a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for Tunisia (with a CAGR of +72.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen crab and crab meat supplying countries from Puerto Rico were Russia ($X), Canada ($X) and China ($X), together accounting for 79% of total exports. These countries were followed by Norway, the United States, Chile, Myanmar, Democratic People's Republic of Korea, Namibia, Bahrain, Tunisia, Pakistan and Hong Kong SAR, which together accounted for a further 13%.

In terms of the main exporting countries, Tunisia, with a CAGR of +77.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, approximately mirroring the previous year. Overall, the export price continues to indicate a relatively flat trend pattern.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Russia ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+11.0%), while the other leaders experienced more modest paces of growth.

Imports of Frozen Crabs And Crabs Meat

Imports into Puerto Rico

In 2021, imports of frozen crabs and crabs meat into Puerto Rico was estimated at less than X kg, remaining relatively unchanged against 2020 figures. In general, imports continue to indicate a relatively flat trend pattern.

In value terms, frozen crab and crab meat imports stood at less than $X in 2021. Overall, imports saw a relatively flat trend pattern.

Imports by Country

The United States represented the largest importer of frozen crabs and crabs meat in the world, with the volume of imports accounting for X tons, which was approx. 44% of total imports in 2021. South Korea (X tons) ranks second in terms of the total imports with a 14% share, followed by Japan (9.3%) and China (7%). Indonesia (X tons), Thailand (X tons), Vietnam (X tons), France (X tons), Malaysia (X tons), Taiwan (Chinese) (X tons), Spain (X tons) and Hong Kong SAR (X tons) held a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to frozen crab and crab meat imports into the United States stood at +5.7%. At the same time, Thailand (+21.3%), Malaysia (+12.2%), Indonesia (+4.9%) and France (+1.2%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in the world, with a CAGR of +21.3% from 2012-2021. By contrast, South Korea (-3.1%), Spain (-3.3%), Vietnam (-4.2%), Taiwan (Chinese) (-4.8%), Hong Kong SAR (-7.1%), China (-7.8%) and Japan (-8.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United States and Thailand increased by +18 and +3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported frozen crabs and crabs meat into Puerto Rico, comprising 66% of global imports. The second position in the ranking was taken by Japan ($X), with a 13% share of global imports. It was followed by China, with a 4.4% share.

In the United States, frozen crab and crab meat imports increased at an average annual rate of +17.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Japan (-1.5% per year) and China (-1.1% per year).

Import Prices by Country

In 2021, the import price in Puerto Rico amounted to less than $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price showed a relatively flat trend pattern.

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 the United States ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+10.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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