Report Update May 1, 2024

Puerto Rico - Frozen Lobster - Market Analysis, Forecast, Size, Trends and Insights

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Puerto Rico: Frozen Lobster Market 2022

Frozen Lobster Market Size in Puerto Rico

The Puerto Rican frozen lobster market totaled less than $X in 2021, flattening at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a relatively flat trend pattern.

Frozen Lobster Exports

Exports by Country

Canada prevails in exports structure, amounting to X tons, which was approx. 81% of total exports in 2021. It was distantly followed by the United States (X tons), achieving a 4.7% share of total exports. The following exporters - Belgium (X tons) and India (X tons) - together made up 2.3% of total exports.

Exports from Canada increased at an average annual rate of +4.9% from 2012 to 2021. At the same time, Belgium (+8.0%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the world, with a CAGR of +8.0% from 2012-2021. The United States experienced a relatively flat trend pattern. By contrast, India (-27.3%) illustrated a downward trend over the same period. Canada (+9.1 p.p.) significantly strengthened its position in terms of the global exports, while the United States and India saw its share reduced by -2.2% and -3.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Canada ($X) remains the largest frozen lobster supplier from Puerto Rico, comprising 87% of global exports. The second position in the ranking was held by the United States ($X), with a 3.9% share of global exports. It was followed by Belgium, with a 1.4% share.

In Canada, frozen lobster exports increased at an average annual rate of +9.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the United States (+1.4% per year) and Belgium (+12.5% per year).

Export Prices by Country

In 2021, the export price in Puerto Rico amounted to less than $X per ton, approximately reflecting the previous year. Overall, the export price recorded a relatively flat trend pattern.

Prices varied noticeably country of origin: the country with the highest price was Canada ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+4.6%), while the other leaders experienced more modest paces of growth.

Frozen Lobster Imports

Imports by Country

The United States prevails in imports structure, finishing at X tons, which was near 55% of total imports in 2021. It was distantly followed by Spain (X tons) and South Korea (X tons), together committing an 11% share of total imports. France (X tons), China (X tons), Belgium (X tons), Italy (X tons), Japan (X tons), Hong Kong SAR (X tons), the UK (X tons), the Netherlands (X tons), Vietnam (X tons) and Australia (X tons) took a little share of total imports.

Imports into the United States increased at an average annual rate of +2.9% from 2012 to 2021. At the same time, South Korea (+22.2%), Italy (+12.0%), the UK (+10.4%), Spain (+10.3%), Belgium (+6.2%), the Netherlands (+3.2%), France (+2.2%) and China (+1.6%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in the world, with a CAGR of +22.2% from 2012-2021. Australia and Japan experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-7.0%) and Vietnam (-31.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Korea, Spain and Italy increased by +3.9, +2.7 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported frozen lobster into Puerto Rico, comprising 72% of global imports. The second position in the ranking was held by South Korea ($X), with a 3.5% share of global imports. It was followed by Spain, with a 3.2% share.

In the United States, frozen lobster imports expanded at an average annual rate of +9.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: South Korea (+18.3% per year) and Spain (+14.3% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, stabilizing at the previous year. Over the period under review, the import price recorded a relatively flat trend pattern.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the United States ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+7.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for frozen lobster in the world?

The countries with the highest volumes of consumption in 2021 were the United States, India and Egypt, together accounting for 65% of global consumption. Spain, South Korea, China, France, Italy, Canada and Japan lagged somewhat behind, together accounting for a further 17%.

What are the largest producers of frozen lobster in the world?

Canada constituted the country with the largest volume of frozen lobster production, accounting for 62% of total volume. Moreover, frozen lobster production in Canada exceeded the figures recorded by the second-largest producer, India, threefold.

What are the leading suppliers of frozen lobster to Puerto Rico?

In value terms, the United States constitutes the largest market for imported frozen lobster into Puerto Rico, comprising 72% of global imports. The second position in the ranking was taken by South Korea, with a 3.5% share of global imports. It was followed by Spain, with a 3.2% share.

What are the leading importers of frozen lobster from Puerto Rico?

In value terms, Canada remains the largest frozen lobster supplier from Puerto Rico, comprising 87% of global exports. The second position in the ranking was taken by the United States, with a 3.9% share of global exports. It was followed by Belgium, with a 1.4% share.

What is the average export price for frozen lobster in Puerto Rico?

The export price in Puerto Rico stood at less than $0.1 per ton in 2021, remaining stable against the previous year.

What is the average import price for frozen lobster in Puerto Rico?

In 2021, the import price in Puerto Rico amounted to less than $0.1 per ton, almost unchanged from the previous year.

This report provides an in-depth analysis of the frozen lobster market in Puerto Rico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Puerto Rico

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Puerto Rico
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023