Kenya: Frozen Lobster Market 2024

Frozen Lobster Market Size in Kenya

The Kenyan frozen lobster market declined sharply to $X in 2022, with a decrease of -47.2% against the previous year. Overall, consumption recorded a abrupt contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Frozen Lobster Production in Kenya

In value terms, frozen lobster production shrank modestly to $X in 2022 estimated in export price. Overall, the total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.5% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 24% against the previous year. Frozen lobster production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Frozen Lobster Exports

Exports from Kenya

Frozen lobster exports from Kenya skyrocketed to X tons in 2022, picking up by 74% against 2021 figures. Over the period under review, exports recorded significant growth. The pace of growth was the most pronounced in 2015 with an increase of 1,962%. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, frozen lobster exports soared to $X in 2022. Overall, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 2,684% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Italy (X tons) was the main destination for frozen lobster exports from Kenya, with a 50% share of total exports. Moreover, frozen lobster exports to Italy exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. Portugal (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Italy amounted to +35.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+59.9% per year) and Portugal (+44.8% per year).

In value terms, Italy ($X) remains the key foreign market for frozen lobster exports from Kenya, comprising 57% of total exports. The second position in the ranking was held by Greece ($X), with a 13% share of total exports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy totaled +34.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+27.7% per year) and the Netherlands (+74.6% per year).

Export Prices by Country

The average frozen lobster export price stood at $X per ton in 2022, reducing by -3.1% against the previous year. Overall, export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen lobster export price increased by +1.5% against 2020 indices. The most prominent rate of growth was recorded in 2014 an increase of 46%. Over the period under review, the average 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 for the major export markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Thailand ($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 France (+18.8%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Lobster Imports

Imports into Kenya

In 2022, approx. X kg of frozen lobster were imported into Kenya; picking up by 5.3% on the previous year's figure. Over the period under review, imports, however, recorded a precipitous decrease. The pace of growth appeared the most rapid in 2015 with an increase of 338% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, frozen lobster imports rose to $X in 2022. Overall, imports, however, saw a significant contraction. The pace of growth was the most pronounced in 2019 when imports increased by 327% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Tanzania (X kg), Somalia (X kg) and the United Arab Emirates (X kg) were the main suppliers of frozen lobster imports to Kenya.

From 2012 to 2022, the biggest increases were recorded for Somalia (with a CAGR of +170.5%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Tanzania ($X) constituted the largest supplier of frozen lobster to Kenya, comprising 82% of total imports. The second position in the ranking was taken by Somalia ($X), with a 17% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Tanzania totaled +37.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Somalia (+180.7% per year) and the United Arab Emirates (-25.9% per year).

Import Prices by Country

The average frozen lobster import price stood at $X per ton in 2022, approximately mirroring the previous year. Overall, import price indicated a tangible expansion 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. Based on 2022 figures, frozen lobster import price decreased by -24.9% against 2019 indices. The pace of growth was the most pronounced in 2019 an increase of 56% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Tanzania ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tanzania (+5.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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