Vietnam: Market for Crabs and Crab Meat 2024

Market Size for Crabs and Crab Meat in Vietnam

The Vietnamese crab and crab meat market amounted to $X in 2023, with an increase of X% against the previous year. Overall, the total consumption indicated a resilient increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Crab and crab meat consumption peaked at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.

Production of Crabs and Crab Meat in Vietnam

In value terms, crab and crab meat production expanded modestly to $X in 2023 estimated in export price. Over the period under review, production enjoyed a strong increase. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Crab and crab meat production peaked at $X in 2015; however, from 2016 to 2023, production stood at a somewhat lower figure.

Exports of Crabs and Crab Meat

Exports from Vietnam

In 2023, approx. X tons of crabs and crab meat were exported from Vietnam; with a decrease of X% on the previous year. Overall, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

In value terms, crab and crab meat exports dropped remarkably to $X in 2023. Over the period under review, exports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The exports peaked at $X in 2022, and then fell dramatically in the following year.

Exports by Country

China (X tons) was the main destination for crab and crab meat exports from Vietnam, accounting for a X% share of total exports. Moreover, crab and crab meat exports to China exceeded the volume sent to the second major destination, Japan (X tons), twofold. Hong Kong SAR (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Hong Kong SAR (X% per year).

In value terms, the largest markets for crab and crab meat exported from Vietnam were China ($X), Japan ($X) and the United States ($X), together comprising X% of total exports.

Among the main countries of destination, China, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average crab and crab meat export price amounted to $X per ton, declining by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 an increase of X%. The export price peaked at $X per ton in 2022, and then dropped in the following year.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Hong Kong SAR ($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 Vietnam

In 2023, approx. X tons of crabs and crab meat were imported into Vietnam; which is down by X% on the previous year's figure. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, crab and crab meat imports reduced notably to $X in 2023. Overall, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Imports peaked at $X in 2022, and then shrank sharply in the following year.

Imports by Country

Canada (X tons), Russia (X tons) and Norway (X tons) were the main suppliers of crab and crab meat imports to Vietnam, together comprising X% of total imports. The United States, Tunisia, Ireland and Myanmar lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest crab and crab meat suppliers to Vietnam were Canada ($X), Russia ($X) and Norway ($X), with a combined X% share of total imports. The United States, Tunisia, Ireland and Myanmar lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Tunisia, with a CAGR of X%, 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, remaining relatively unchanged against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2020; however, from 2021 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 highest price was recorded for prices from Myanmar ($X per ton) and the United States ($X per ton), while the price for Tunisia ($X per ton) and Canada ($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