U.S.: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in the U.S.

The U.S. frozen norway lobster market contracted to $X in 2022, shrinking by -8.2% against the previous year. Overall, consumption, however, recorded a strong increase. Frozen norway lobster consumption peaked at $X in 2021, and then declined in the following year.

Frozen Norway Lobster Production in the U.S.

In value terms, frozen norway lobster production amounted to $X in 2022. Over the period under review, production continues to indicate a dramatic curtailment. The most prominent rate of growth was recorded in 2013 when the production volume increased by 41%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Frozen Norway Lobster Exports

Exports from the U.S.

In 2022, shipments abroad of frozen norway lobsters was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports showed a modest expansion. The most prominent rate of growth was recorded in 2013 with an increase of 807%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen norway lobster exports soared to $X in 2022. Over the period under review, exports enjoyed moderate growth. The pace of growth was the most pronounced in 2013 when exports increased by 615%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Dominican Republic (X tons), South Korea (X tons) and Saint Maarten (Dutch part) (X tons) were the main destinations of frozen norway lobster exports from the United States, together comprising 98% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Dominican Republic (with a CAGR of +2,791.2%), while the other leaders experienced mixed trend patterns.

In value terms, the Dominican Republic ($X) emerged as the key foreign market for frozen norway lobsters exports from the United States, comprising 62% of total exports. The second position in the ranking was held by South Korea ($X), with a 23% share of total exports. It was followed by Saint Maarten (Dutch part), with an 11% share.

From 2012 to 2022, the average annual growth rate of value to the Dominican Republic totaled +2,599.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-24.5% per year) and Saint Maarten (Dutch part) (+17.5% per year).

Export Prices by Country

In 2022, the average frozen norway lobster export price amounted to $X per ton, reducing by -44.4% against the previous year. Over the period under review, the export price, however, showed a modest increase. The pace of growth was the most pronounced in 2015 when the average export price increased by 101%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then reduced notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cayman Islands ($X per ton), while the average price for exports to South Korea ($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 Canada (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Norway Lobster Imports

Imports into the U.S.

In 2022, the amount of frozen norway lobsters imported into the United States shrank dramatically to X tons, with a decrease of -25.1% against 2021. Overall, imports, however, posted a significant increase. The growth pace was the most rapid in 2013 when imports increased by 15,200%. Imports peaked at X tons in 2021, and then reduced remarkably in the following year.

In value terms, frozen norway lobster imports declined to $X in 2022. In general, imports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 when imports increased by 6,804%. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, the UK (X tons) constituted the largest frozen norway lobster supplier to the United States, accounting for a 64% share of total imports. Moreover, frozen norway lobster imports from the UK exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), fivefold. Spain (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK stood at +97.2%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+92.9% per year) and Spain (+78.7% per year).

In value terms, the UK ($X) constituted the largest supplier of frozen norway lobsters to the United States, comprising 58% of total imports. The second position in the ranking was held by New Zealand ($X), with a 23% share of total imports. It was followed by Spain, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from the UK stood at +96.8%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+103.7% per year) and Spain (+74.5% per year).

Import Prices by Country

The average frozen norway lobster import price stood at $X per ton in 2022, picking up by 26% against the previous year. In general, the import price, however, saw a noticeable setback. The growth pace was the most rapid in 2016 an increase of 36%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+12.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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