Philippines: Market for Prepared Or Preserved Crab Meat 2024

Market Size for Prepared Or Preserved Crab Meat in the Philippines

In 2022, the Philippine market for prepared or preserved crab meat was finally on the rise to reach $X after three years of decline. Overall, the total consumption indicated a moderate increase 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. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Prepared Or Preserved Crab Meat in the Philippines

In value terms, prepared or preserved crab meat production dropped slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Prepared Or Preserved Crab Meat

Exports from the Philippines

In 2022, overseas shipments of prepared or preserved crab meat decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, total exports indicated a measured increase from 2012 to 2022: its volume 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 2014 with an increase of X% against the previous year. The exports peaked at X tons in 2021, and then reduced dramatically in the following year.

In value terms, prepared or preserved crab meat exports dropped remarkably to $X in 2022. Overall, exports, however, saw a prominent expansion. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then contracted rapidly in the following year.

Exports by Country

The United States (X tons) was the main destination for prepared or preserved crab meat exports from the Philippines, accounting for a X% share of total exports. Moreover, prepared or preserved crab meat exports to the United States exceeded the volume sent to the second major destination, Vietnam (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Hong Kong SAR (X% per year).

In value terms, the United States ($X) remains the key foreign market for prepared or preserved crab meat exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and Vietnam (X% per year).

Export Prices by Country

The average export price for prepared or preserved crab meat stood at $X per ton in 2022, falling by X% against the previous year. Overall, the export price, however, continues to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then contracted markedly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Vietnam ($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 Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prepared Or Preserved Crab Meat

Imports into the Philippines

In 2022, purchases abroad of prepared or preserved crab meat increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, imports posted a resilient expansion. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, prepared or preserved crab meat imports skyrocketed to $X in 2022. In general, imports showed a buoyant increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of prepared or preserved crab meat to the Philippines, accounting for a X% share of total imports. Moreover, prepared or preserved crab meat imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fourfold. The third position in this ranking was held by Hong Kong SAR (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Hong Kong SAR (X% per year).

In value terms, the largest prepared or preserved crab meat suppliers to the Philippines were Taiwan (Chinese) ($X), China ($X) and Thailand ($X), with a combined X% share of total imports.

In terms of the main suppliers, Taiwan (Chinese), with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for prepared or preserved crab meat amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2021, and then fell rapidly in the following year.

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 Taiwan (Chinese) ($X per ton), while the price for Hong Kong SAR ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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