U.S.: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in the U.S.

The U.S. frozen norway lobster market shrank to $X in 2022, which is down by X% against the previous year. Overall, consumption, however, showed a strong increase. Over the period under review, the market hit record highs at $X in 2021, and then dropped in the following year.

Frozen Norway Lobster Production in the U.S.

In value terms, frozen norway lobster production totaled $X in 2022. Overall, production showed a sharp shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Frozen Norway Lobster Exports

Exports from the U.S.

In 2022, overseas shipments of frozen norway lobsters were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports showed a modest expansion. The growth pace was the most rapid in 2013 with an increase of X%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, frozen norway lobster exports surged to $X in 2022. In general, exports recorded noticeable growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The Dominican Republic (X tons), South Korea (X tons) and Saint Maarten (Dutch part) (X tons) were the main destinations of frozen norway lobster exports from the United States, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Dominican Republic (with a CAGR of X.2%), while the other leaders experienced mixed trend patterns.

In value terms, the Dominican Republic ($X) emerged as the key foreign market for frozen norway lobsters exports from the United States, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports. It was followed by Saint Maarten (Dutch part), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Dominican Republic stood at X.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Saint Maarten (Dutch part) (X% per year).

Export Prices by Country

In 2022, the average frozen norway lobster export price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price, however, posted a modest expansion. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then reduced rapidly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cayman Islands ($X per ton), while the average price for exports to South Korea ($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 Canada (X%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Norway Lobster Imports

Imports into the U.S.

In 2022, the amount of frozen norway lobsters imported into the United States reduced notably to X tons, with a decrease of X% against the previous year's figure. In general, imports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then shrank dramatically in the following year.

In value terms, frozen norway lobster imports dropped to $X in 2022. Overall, imports, however, enjoyed significant growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, the UK (X tons) constituted the largest supplier of frozen norway lobster to the United States, with a X% share of total imports. Moreover, frozen norway lobster imports from the UK exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), fivefold. Spain (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from the UK totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and Spain (X% per year).

In value terms, the UK ($X) constituted the largest supplier of frozen norway lobsters to the United States, comprising X% of total imports. The second position in the ranking was taken by New Zealand ($X), with a X% share of total imports. It was followed by Spain, with an X% share.

From 2012 to 2022, the average annual growth rate of value from the UK amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and Spain (X% per year).

Import Prices by Country

The average frozen norway lobster import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price, however, saw a pronounced contraction. The growth pace was the most rapid in 2016 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 New Zealand ($X per ton), while the price for Ecuador ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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