Philippines: Market for Crabs and Crab Meat 2024

Market Size for Crabs and Crab Meat in the Philippines

The Philippine crab and crab meat market expanded remarkably to $X in 2023, surging by X% against the previous year. Over the period under review, consumption saw resilient growth. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Production of Crabs and Crab Meat in the Philippines

In value terms, crab and crab meat production skyrocketed to $X in 2023 estimated in export price. Over the period under review, production saw a strong increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Exports of Crabs and Crab Meat

Exports from the Philippines

In 2023, shipments abroad of crabs and crab meat increased by X% to X tons, rising for the third consecutive year after three years of decline. Overall, exports, however, saw a pronounced setback. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, crab and crab meat exports totaled $X in 2023. In general, exports, however, saw a perceptible setback. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons) were the main destinations of crab and crab meat exports from the Philippines, together accounting for X% of total exports.

From 2012 to 2023, the biggest increases were recorded for China (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, China ($X), Hong Kong SAR ($X) and Taiwan (Chinese) ($X) constituted the largest markets for crab and crab meat exported from the Philippines worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, China, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average crab and crab meat export price stood at $X per ton in 2023, with an increase of X% against the previous year. Overall, the export price posted moderate growth. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2022 to 2023, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Macao SAR ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crabs and Crab Meat

Imports into the Philippines

In 2023, the amount of crabs and crab meat imported into the Philippines fell sharply to X tons, with a decrease of X% against 2022 figures. In general, imports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2016; however, from 2017 to 2023, imports failed to regain momentum.

In value terms, crab and crab meat imports fell significantly to $X in 2023. Overall, imports, however, enjoyed a pronounced expansion. The growth pace was the most rapid in 2022 when imports increased by X%. Imports peaked at $X in 2017; however, from 2018 to 2023, imports remained at a lower figure.

Imports by Country

Myanmar (X tons), the United States (X tons) and Vietnam (X tons) were the main suppliers of crab and crab meat imports to the Philippines, together comprising X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of X.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Myanmar ($X), the United States ($X) and Vietnam ($X) appeared to be the largest crab and crab meat suppliers to the Philippines, with a combined X% share of total imports.

In terms of the main suppliers, Vietnam, with a CAGR of X.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average crab and crab meat import price amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price, however, saw prominent growth. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2021; however, from 2022 to 2023, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were Thailand ($X per ton) and South Korea ($X per ton), while the price for Singapore ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Tunisia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform