Australia and Oceania: Frozen Lobster Market 2024

Frozen Lobster Market Size in Australia and Oceania

The frozen lobster market in Australia and Oceania contracted to $X in 2022, declining by -8% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +87.2% against 2020 indices. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Frozen Lobster Production in Australia and Oceania

In value terms, frozen lobster production stood at $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the production volume increased by 19% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Frozen Lobster Exports

Exports in Australia and Oceania

In 2022, overseas shipments of frozen lobster were finally on the rise to reach X tons for the first time since 2016, thus ending a five-year declining trend. In general, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, frozen lobster exports surged to $X in 2022. Over the period under review, exports saw a perceptible increase. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Australia dominates exports structure, recording X tons, which was approx. 97% of total exports in 2022. Papua New Guinea (X kg) followed a long way behind the leaders.

Australia experienced a relatively flat trend pattern with regard to volume of exports of frozen lobster. Papua New Guinea (-9.0%) illustrated a downward trend over the same period. While the share of Australia (+5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Papua New Guinea (-4.8 p.p.) displayed negative dynamics.

In value terms, Australia ($X) remains the largest frozen lobster supplier in Australia and Oceania, comprising 98% of total exports. The second position in the ranking was taken by Papua New Guinea ($X), with a 1.7% share of total exports.

In Australia, frozen lobster exports expanded at an average annual rate of +4.0% over the period from 2012-2022.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, shrinking by -6.5% against the previous year. Export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 an increase of 51%. As a result, the export price reached the peak level of $X per ton. From 2017 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 Australia ($X per ton), while Papua New Guinea amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+3.1%).

Frozen Lobster Imports

Imports in Australia and Oceania

In 2022, the amount of frozen lobster imported in Australia and Oceania reduced dramatically to X tons, dropping by -22.9% against the previous year's figure. Over the period under review, imports saw a mild decrease. The pace of growth appeared the most rapid in 2021 when imports increased by 119%. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, frozen lobster imports stood at $X in 2022. Total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +100.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 100%. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Australia represented the main importer of frozen lobster in Australia and Oceania, with the volume of imports finishing at X tons, which was approx. 81% of total imports in 2022. It was distantly followed by New Zealand (X tons), mixing up a 15% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to frozen lobster imports into Australia stood at -2.6%. At the same time, New Zealand (+10.9%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing importer imported in Australia and Oceania, with a CAGR of +10.9% from 2012-2022. While the share of New Zealand (+10 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Australia (-12.4 p.p.) displayed negative dynamics.

In value terms, Australia ($X) constitutes the largest market for imported frozen lobster in Australia and Oceania, comprising 87% of total imports. The second position in the ranking was held by New Zealand ($X), with an 8.9% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Australia amounted to +4.7%.

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, increasing by 30% against the previous year. Import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($X per ton), while New Zealand amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+7.6%).

Source: IndexBox Platform

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