Asia: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in Asia

The Asian frozen norway lobster market surged to $X in 2022, picking up by X% against the previous year. Over the period under review, consumption, however, saw a buoyant expansion. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Frozen Norway Lobster Production in Asia

In value terms, frozen norway lobster production expanded sharply to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Frozen Norway Lobster Exports

Exports in Asia

After five years of decline, shipments abroad of frozen norway lobsters increased by X% to X tons in 2022. Over the period under review, exports, however, continue to indicate a mild decline. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, frozen norway lobster exports surged to $X in 2022. In general, exports showed modest growth. The pace of growth was the most pronounced in 2014 when exports increased by X%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam represented the major exporting country with an export of around X tons, which resulted at X% of total exports. It was distantly followed by India (X tons), committing a X% share of total exports. The following exporters - South Korea (X tons), China (X tons) and Thailand (X tons) - together made up X% of total exports.

Exports from Vietnam decreased at an average annual rate of X% from 2012 to 2022. At the same time, South Korea (X%) and India (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. By contrast, Thailand (X%) and China (X%) illustrated a downward trend over the same period. While the share of India (X p.p.) and South Korea (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Vietnam (X p.p.) and China (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest frozen norway lobster supplier in Asia, comprising X% of total exports. The second position in the ranking was held by India ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Vietnam stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: India (X% per year) and South Korea (X% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price enjoyed perceptible growth. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Frozen Norway Lobster Imports

Imports in Asia

In 2022, approx. X tons of frozen norway lobsters were imported in Asia; increasing by X% on the previous year. In general, imports, however, saw a noticeable descent. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, frozen norway lobster imports skyrocketed to $X in 2022. Overall, imports recorded a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

China represented the main importer of frozen norway lobsters in Asia, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. It was distantly followed by Thailand (X tons), Japan (X tons), the United Arab Emirates (X tons), Singapore (X tons) and South Korea (X tons), together committing a X% share of total imports. Hong Kong SAR (X tons) followed a long way behind the leaders.

Imports into China decreased at an average annual rate of X% from 2012 to 2022. At the same time, South Korea (X%), Japan (X%), Singapore (X%), the United Arab Emirates (X%), Hong Kong SAR (X%) and Thailand (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. While the share of Japan (X p.p.), the United Arab Emirates (X p.p.), Thailand (X p.p.), Singapore (X p.p.), South Korea (X p.p.) and Hong Kong SAR (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of China (X p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported frozen norway lobsters in Asia, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Japan (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price saw a strong expansion. The pace of growth was the most pronounced in 2013 when the import price increased by X%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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