Vietnam: Crabs, Not Frozen Market 2024

Crabs, Not Frozen Market Size in Vietnam

The Vietnamese crabs, not frozen market was estimated at $X in 2022, approximately reflecting the previous year. Overall, consumption, however, recorded prominent growth. Crabs, not frozen consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Crabs, Not Frozen Production in Vietnam

In value terms, crabs, not frozen production rose modestly to $X in 2022 estimated in export price. In general, production showed a resilient increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 33%. Crabs, not frozen production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Crabs, Not Frozen Exports

Exports from Vietnam

After five years of decline, shipments abroad of crabs, not frozen increased by 10% to X tons in 2022. Overall, exports, however, showed a sharp descent. The pace of growth appeared the most rapid in 2013 with an increase of 60% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, crabs, not frozen exports amounted to $X in 2022. Over the period under review, exports, however, saw a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of 51% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for crabs, not frozen exports from Vietnam, with a 58% share of total exports. Moreover, crabs, not frozen exports to China exceeded the volume sent to the second major destination, Singapore (X tons), fourfold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to -18.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-15.5% per year) and Taiwan (Chinese) (+23.4% per year).

In value terms, China ($X) remains the key foreign market for crabs, not frozen exports from Vietnam, comprising 60% of total exports. The second position in the ranking was taken by the United States ($X), with a 9.2% share of total exports. It was followed by Hong Kong SAR, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China amounted to -11.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-19.1% per year) and Hong Kong SAR (-15.4% per year).

Export Prices by Country

The average crabs, not frozen export price stood at $X per ton in 2022, shrinking by -5.8% against the previous year. Over the period under review, the export price, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2017 when the average export price increased by 38%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while the average price for exports to Singapore ($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 Thailand (+32.6%), while the prices for the other major destinations experienced more modest paces of growth.

Crabs, Not Frozen Imports

Imports into Vietnam

In 2022, after five years of growth, there was significant decline in purchases abroad of crabs, not frozen, when their volume decreased by -6.6% to X tons. Over the period under review, imports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2017 when imports increased by 3,962%. Imports peaked at X tons in 2021, and then declined in the following year.

In value terms, crabs, not frozen imports contracted to $X in 2022. In general, imports, however, posted significant growth. The pace of growth appeared the most rapid in 2017 when imports increased by 4,133% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then fell in the following year.

Imports by Country

Thailand (X tons), Hong Kong SAR (X tons) and Canada (X tons) were the main suppliers of crabs, not frozen imports to Vietnam, together accounting for 95% of total imports. The United States and Norway lagged somewhat behind, together accounting for a further 4%.

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +106.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Norway ($X) constituted the largest supplier of crabs, not frozen to Vietnam, comprising 48% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a 17% share of total imports. It was followed by Thailand, with a 14% share.

From 2012 to 2022, the average annual growth rate of value from Norway totaled +176.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+71.8% per year) and Thailand (+30.8% per year).

Import Prices by Country

In 2022, the average crabs, not frozen import price amounted to $X per ton, which is down by -1.9% against the previous year. Overall, the import price, however, saw a strong increase. The most prominent rate of growth was recorded in 2013 an increase of 148%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+34.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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