SADC: Frozen Lobster Market 2024

Frozen Lobster Market Size in SADC

The SADC frozen lobster market skyrocketed to $X in 2022, with an increase of 19% against the previous year. The market value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Frozen Lobster Production in SADC

In value terms, frozen lobster production stood at $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 18%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Frozen Lobster Exports

Exports in SADC

Frozen lobster exports surged to X tons in 2022, jumping by 186% on the year before. Over the period under review, exports, however, continue to indicate a perceptible setback. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, frozen lobster exports soared to $X in 2022. In general, exports, however, continue to indicate a abrupt descent. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Tanzania (X tons) represented the major exporter of frozen lobster, achieving 54% of total exports. It was distantly followed by South Africa (X tons), Seychelles (X tons), Mozambique (X tons), Madagascar (X tons) and Namibia (X tons), together achieving a 46% share of total exports.

Exports from Tanzania increased at an average annual rate of +8.9% from 2012 to 2022. At the same time, Namibia (+18.2%), Seychelles (+12.3%), South Africa (+7.7%) and Madagascar (+3.7%) displayed positive paces of growth. Moreover, Namibia emerged as the fastest-growing exporter exported in SADC, with a CAGR of +18.2% from 2012-2022. By contrast, Mozambique (-19.9%) illustrated a downward trend over the same period. While the share of Tanzania (+38 p.p.), South Africa (+14 p.p.), Seychelles (+7.1 p.p.), Namibia (+4.1 p.p.) and Madagascar (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mozambique (-32 p.p.) displayed negative dynamics.

In value terms, Tanzania ($X), South Africa ($X) and Seychelles ($X) constituted the countries with the highest levels of exports in 2022, with a combined 78% share of total exports. Mozambique, Namibia and Madagascar lagged somewhat behind, together comprising a further 22%.

Among the main exporting countries, Namibia, with a CAGR of +13.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in SADC stood at $X per ton in 2022, declining by -37.1% against the previous year. In general, the export price showed a perceptible setback. The pace of growth appeared the most rapid in 2021 when the export price increased by 64% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Seychelles ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Seychelles (-0.9%), while the other leaders experienced a decline in the export price figures.

Frozen Lobster Imports

Imports in SADC

In 2022, overseas purchases of frozen lobster increased by 283% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports continue to indicate a relatively flat trend pattern. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, frozen lobster imports soared to $X in 2022. In general, imports, however, showed a slight reduction. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Mauritius was the largest importer of frozen lobster in SADC, with the volume of imports resulting at X tons, which was near 64% of total imports in 2022. Tanzania (X tons) took the second position in the ranking, distantly followed by Seychelles (X tons). All these countries together took approx. 31% share of total imports. Angola (X tons) took a relatively small share of total imports.

Imports into Mauritius decreased at an average annual rate of -1.3% from 2012 to 2022. At the same time, Tanzania (+116.2%) and Angola (+14.6%) displayed positive paces of growth. Moreover, Tanzania emerged as the fastest-growing importer imported in SADC, with a CAGR of +116.2% from 2012-2022. By contrast, Seychelles (-5.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Tanzania and Angola increased by +23 and +1.9 percentage points, respectively.

In value terms, Mauritius ($X) constitutes the largest market for imported frozen lobster in SADC, comprising 75% of total imports. The second position in the ranking was held by Seychelles ($X), with a 16% share of total imports. It was followed by Angola, with a 1.8% share.

From 2012 to 2022, the average annual growth rate of value in Mauritius totaled -1.8%. The remaining importing countries recorded the following average annual rates of imports growth: Seychelles (+2.2% per year) and Angola (+4.5% per year).

Import Prices by Country

In 2022, the import price in SADC amounted to $X per ton, which is down by -32.6% against the previous year. Overall, the import price showed a mild curtailment. The pace of growth appeared the most rapid in 2013 an increase of 38% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Seychelles ($X per ton), while Tanzania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Seychelles (+8.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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