Eastern Asia: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in Eastern Asia

The East Asian frozen norway lobster market shrank to $X in 2022, waning by X% against the previous year. Overall, consumption, however, posted prominent growth. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Frozen Norway Lobster Production in Eastern Asia

In value terms, frozen norway lobster production amounted to $X in 2022 estimated in export price. In general, production faced a dramatic slump. The pace of growth appeared the most rapid in 2015 when the production volume increased by X,600%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Frozen Norway Lobster Exports

Exports in Eastern Asia

In 2022, shipments abroad of frozen norway lobsters was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, exports, however, showed a deep slump. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, frozen norway lobster exports soared to $X in 2022. In general, exports, however, continue to indicate a noticeable curtailment. The pace of growth appeared the most rapid in 2014 with an increase of X%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, South Korea (X tons) and China (X tons) was the main exporter of frozen norway lobsters in Eastern Asia, achieving X% of total export.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%).

In value terms, South Korea ($X) emerged as the largest frozen norway lobster supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports.

In South Korea, frozen norway lobster exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, declining by X% against the previous year. Over the period under review, the export price, however, posted a buoyant expansion. The growth pace was the most rapid in 2013 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2021, and then dropped significantly in the following year.

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 China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%).

Frozen Norway Lobster Imports

Imports in Eastern Asia

Frozen norway lobster imports fell to X tons in 2022, dropping by X% on the previous year's figure. Overall, imports saw a deep slump. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, frozen norway lobster imports rose sharply to $X in 2022. In general, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

China was the key importer of frozen norway lobsters in Eastern Asia, with the volume of imports resulting at X tons, which was near X% of total imports in 2022. Japan (X tons) held the second position in the ranking, distantly followed by South Korea (X tons). All these countries together took near X% share of total imports. Hong Kong SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to frozen norway lobster imports into China stood at X%. At the same time, South Korea (X%), Japan (X%) and Hong Kong SAR (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2022. While the share of Japan (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 ($X) constitutes the largest market for imported frozen norway lobsters in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and Hong Kong SAR (X% per year).

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price saw a prominent increase. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. Over the period under review, import prices reached 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 ($X per ton), while China ($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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