Overview of the Global Market for Frozen Crabs And Crabs Meat

Market Size for Frozen Crabs And Crabs Meat

The global market for frozen crabs and crabs meat rose sharply to $X in 2021, increasing by 9.2% against the previous year. In general, consumption, however, recorded a prominent increase. Over the period under review, the global market reached the maximum level in 2021 and is likely to continue growth in years to come.

Production of Frozen Crabs And Crabs Meat

In value terms, frozen crab and crab meat production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, recorded resilient growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 30% against the previous year. Global production peaked at $X in 2020, and then declined in the following year.

Exports of Frozen Crabs And Crabs Meat

Exports

In 2021, approx. X tons of frozen crabs and crabs meat were exported worldwide; increasing by 9.8% compared with the previous year. The total export volume increased at an average annual rate of +1.0% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 14%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the global exports remained at a somewhat lower figure.

In value terms, frozen crab and crab meat exports skyrocketed to $X in 2021. In general, total exports indicated a strong increase 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, exports increased by +106.4% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Canada (X tons), Russia (X tons) and China (X tons) represented roughly 58% of total exports in 2021. It was distantly followed by Democratic People's Republic of Korea (X tons), mixing up 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) and Namibia (X tons) followed a long way behind the leaders.

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

In value terms, Russia ($X), Canada ($X) and China ($X) were the countries with the highest levels of exports in 2021, with a combined 79% share of global exports. These countries were followed by Norway, the United States, Chile, Myanmar, Democratic People's Republic of Korea, Namibia, Bahrain, Tunisia and Pakistan, which together accounted for a further 13%.

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

Export Prices by Country

The average export price for frozen crabs and crabs meat stood at $X per ton in 2021, rising by 45% against the previous year. Over the period under review, export price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine years. 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 increased by +89.5% against 2015 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 global leaders experienced more modest paces of growth.

Imports of Frozen Crabs And Crabs Meat

Imports

In 2021, approx. X tons of frozen crabs and crabs meat were imported worldwide; increasing by 5.9% against 2020. Overall, imports, however, recorded a relatively flat trend pattern. Over the period under review, global imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports remained at a lower figure.

In value terms, frozen crab and crab meat imports soared to $X in 2021. In general, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +96.4% against 2013 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States represented the main importer of frozen crabs and crabs meat in the world, with the volume of imports amounting to X tons, which was near 44% of total imports in 2021. It was distantly followed by South Korea (X tons), Japan (X tons) and China (X tons), together comprising a 30% share of total imports. Indonesia (X tons), Thailand (X tons), Vietnam (X tons), France (X tons), Malaysia (X tons) and Taiwan (Chinese) (X tons) took a little share of total imports.

Imports into the United States increased at an average annual rate of +5.7% from 2012 to 2021. 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%), Vietnam (-4.2%), Taiwan (Chinese) (-4.8%), China (-7.8%) and Japan (-8.2%) illustrated a downward trend over the same period. The United States (+18 p.p.) and Thailand (+3 p.p.) significantly strengthened its position in terms of the global imports, while South Korea, China and Japan saw its share reduced by -3.9%, -7.2% and -10.3% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported frozen crabs and crabs meat worldwide, comprising 66% of global imports. The second position in the ranking was held by Japan ($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 expanded 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

The average import price for frozen crabs and crabs meat stood at $X per ton in 2021, increasing by 38% against the previous year. In general, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +7.7% 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 import price increased by +102.3% against 2013 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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