Eastern Asia: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in Eastern Asia

In 2023, after two years of growth, there was significant decline in the East Asian frozen crustaceans market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X, and then fell in the following year.

Frozen Crustaceans Production in Eastern Asia

In value terms, frozen crustaceans production fell modestly to $X in 2023 estimated in export price. Overall, production saw a abrupt decline. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2023, production failed to regain momentum.

Frozen Crustaceans Exports

Exports in Eastern Asia

In 2023, exports of frozen crustaceans in Eastern Asia dropped to X tons, waning by X% against the previous year's figure. In general, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen crustaceans exports fell modestly to $X in 2023. Overall, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

China dominates exports structure, reaching X tons, which was near X% of total exports in 2023. It was distantly followed by South Korea (X tons), constituting a X% share of total exports. The following exporters - Hong Kong SAR (X tons) and Japan (X tons) - together made up X% of total exports.

From 2012 to 2023, average annual rates of growth with regard to frozen crustaceans exports from China stood at X%. At the same time, Japan (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, South Korea (X%) and Hong Kong SAR (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) and South Korea (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Hong Kong SAR (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest frozen crustaceans supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2023, the average annual growth rate of value in China amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2023, approximately mirroring the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the export price increased by X%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2023, the export prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced more modest paces of growth.

Frozen Crustaceans Imports

Imports in Eastern Asia

For the third year in a row, Eastern Asia recorded growth in supplies from abroad of frozen crustaceans, which increased by X% to X tons in 2023. In general, imports saw a remarkable increase. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The volume of import peaked in 2023 and is likely to see gradual growth in the near future.

In value terms, frozen crustaceans imports fell to $X in 2023. Overall, imports posted buoyant growth. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2022, and then declined in the following year.

Imports by Country

In 2023, China (X tons) represented the main importer of frozen crustaceans, creating X% of total imports. Japan (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (X%). Taiwan (Chinese) (X tons) and Hong Kong SAR (X tons) took a minor share of total imports.

China was also the fastest-growing in terms of the frozen crustaceans imports, with a CAGR of X% from 2012 to 2023. At the same time, Taiwan (Chinese) (X%) and South Korea (X%) displayed positive paces of growth. By contrast, Hong Kong SAR (X%) and Japan (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of China increased by X percentage points.

In value terms, China ($X) constitutes the largest market for imported frozen crustaceans in Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with an X% share of total imports. It was followed by South Korea, with an X% share.

From 2012 to 2023, the average annual growth rate of value in China totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2023, dropping by X% against the previous year. In general, the import price recorded a perceptible decline. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform