Australia: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in Australia

In 2023, after three years of growth, there was significant decline in the Australian frozen crustaceans market, when its value decreased by X% to $X. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then dropped dramatically in the following year.

Frozen Crustaceans Exports

Exports from Australia

In 2023, overseas shipments of frozen crustaceans were finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, recorded a deep slump. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, frozen crustaceans exports skyrocketed to $X in 2023. In general, exports, however, continue to indicate a noticeable decline. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for frozen crustaceans exports from Australia, with a X% share of total exports. Moreover, frozen crustaceans exports to China exceeded the volume sent to the second major destination, Thailand (X tons), fourfold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, China ($X), the United States ($X) and Taiwan (Chinese) ($X) were the largest markets for frozen crustaceans exported from Australia worldwide, together comprising X% of total exports.

Among the main countries of destination, China, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average frozen crustaceans export price stood at $X per ton in 2023, shrinking by X% against the previous year. Over the period under review, the export price, however, continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Thailand ($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 Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Frozen Crustaceans Imports

Imports into Australia

After two years of growth, supplies from abroad of frozen crustaceans decreased by X% to X tons in 2023. Over the period under review, imports continue to indicate a noticeable shrinkage. The growth pace was the most rapid in 2022 when imports increased by X%. Imports peaked at X tons in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

In value terms, frozen crustaceans imports declined dramatically to $X in 2023. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when imports increased by X%. Imports peaked at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Vietnam (X tons) constituted the largest supplier of frozen crustaceans to Australia, with a X% share of total imports. Moreover, frozen crustaceans imports from Vietnam exceeded the figures recorded by the second-largest supplier, Thailand (X tons), sixfold. The third position in this ranking was taken by China (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Vietnam totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and China (X% per year).

In value terms, Vietnam ($X) constituted the largest supplier of frozen crustaceans to Australia, comprising X% of total imports. The second position in the ranking was held by Thailand ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Vietnam totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and China (X% per year).

Import Prices by Country

In 2023, the average frozen crustaceans import price amounted to $X per ton, with a decrease of X% against the previous year. In general, import price indicated measured growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2023, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from Indonesia ($X per ton) and Myanmar ($X per ton), while the price for Malaysia ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform