Hong Kong SAR, China: Market for Crabs and Crab Meat 2024

Market Size for Crabs and Crab Meat in Hong Kong SAR, China

In 2022, the Hong Kong crab and crab meat market increased by X% to $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption continues to indicate a resilient expansion. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Production of Crabs and Crab Meat in Hong Kong SAR, China

In value terms, crab and crab meat production stood at $X in 2022 estimated in export price. In general, production continues to indicate a deep reduction. The pace of growth was the most pronounced in 2019 with an increase of X%. Crab and crab meat production peaked at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Exports of Crabs and Crab Meat

Exports from Hong Kong SAR, China

In 2022, crab and crab meat exports from Hong Kong SAR contracted remarkably to X tons, dropping by X% against 2021 figures. In general, exports saw a precipitous descent. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, crab and crab meat exports shrank markedly to $X in 2022. Overall, exports saw a deep contraction. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

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

From 2012 to 2022, the average annual growth rate of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (X% per year) and Japan (X% per year).

In value terms, China ($X) remains the key foreign market for crabs and crab meat exports from Hong Kong SAR, comprising X% of total exports. The second position in the ranking was held by Macao SAR ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macao SAR (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the average crab and crab meat export price amounted to $X per ton, jumping by X% against the previous year. In general, the export price showed a pronounced expansion. The growth pace was the most rapid in 2014 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Crabs and Crab Meat

Imports into Hong Kong SAR, China

Crab and crab meat imports into Hong Kong SAR declined dramatically to X tons in 2022, which is down by X% on 2021 figures. Overall, imports saw a noticeable downturn. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, crab and crab meat imports shrank to $X in 2022. In general, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2020 indices. The pace of growth was the most pronounced in 2014 when imports increased by X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

South Korea (X tons), the Philippines (X tons) and Indonesia (X tons) were the main suppliers of crab and crab meat imports to Hong Kong SAR, with a combined X% share of total imports. Bangladesh, China, Myanmar, Japan, Canada, Vietnam and Malaysia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) constituted the largest supplier of crabs and crab meat to Hong Kong SAR, comprising X% of total imports. The second position in the ranking was held by the Philippines ($X), with a X% share of total imports. It was followed by China, with an X% share.

From 2012 to 2022, the average annual growth rate of value from South Korea amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average crab and crab meat import price amounted to $X per ton, growing by X% against the previous year. Over the period under review, import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 when the average import price increased by X%. The import price peaked in 2022 and is likely to see gradual growth in the near future.

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

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

Source: IndexBox Platform

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