Hong Kong SAR, China - Frozen Crustaceans - Market Analysis, Forecast, Size, Trends And Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingHong Kongs Sees Decline in Frozen Crustaceans Imports to $315M in 2023
Hong Kong Frozen Crustaceans Imports
In 2023, the amount of frozen crustaceans imported into Hong Kong expanded sharply to 33K tons, with an increase of 8.2% compared with 2022. In general, imports, however, continue to indicate a noticeable downturn. The pace of growth was the most pronounced in 2021 with an increase of 13% against the previous year. Imports peaked at 54K tons in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.
In value terms, frozen crustaceans imports fell slightly to $315M (IndexBox estimates) in 2023. Over the period under review, imports, however, continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2021 with an increase of 20%. Over the period under review, imports attained the peak figure at $468M in 2014; however, from 2015 to 2023, imports failed to regain momentum.
| COUNTRY | Import Value of Frozen Crustaceans in Hong Kong (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| China | 236 | 218 | 165 | 185 | 237 | 211 | 164 | 122 | 149 | 104 | 115 |
| Vietnam | 53.4 | 75.4 | 76.6 | 80.9 | 86.1 | 91.0 | 83.2 | 60.8 | 69.1 | 68.2 | 63.5 |
| India | 6.3 | 9.2 | 10.7 | 11.4 | 13.0 | 14.1 | 13.0 | 10.1 | 16.3 | 22.2 | 20.7 |
| Australia | 7.4 | 15.6 | 13.9 | 14.3 | 10.6 | 11.0 | 9.9 | 18.9 | 23.2 | 20.5 | 19.1 |
| Japan | 15.8 | 15.7 | 12.9 | 12.9 | 16.7 | 13.9 | 17.4 | 13.8 | 19.5 | 15.9 | 15.0 |
| Myanmar | 15.7 | 25.0 | 15.1 | 14.8 | 17.0 | 19.5 | 20.2 | 11.8 | 13.6 | 14.8 | 13.8 |
| Canada | 8.8 | 12.1 | 7.6 | 11.7 | 16.5 | 13.5 | 17.0 | 8.5 | 9.6 | 13.2 | 12.3 |
| Indonesia | 20.5 | 25.9 | 15.0 | 10.4 | 10.0 | 11.2 | 12.3 | 9.9 | 10.6 | 11.9 | 11.1 |
| Others | 60.7 | 71.3 | 59.8 | 54.8 | 56.5 | 58.7 | 53.4 | 38.8 | 42.3 | 47.1 | 45.2 |
| Total | 425 | 468 | 376 | 396 | 464 | 444 | 391 | 294 | 353 | 318 | 315 |
Imports by Country
China (12K tons), Vietnam (8.3K tons) and India (3.1K tons) were the main suppliers of frozen crustaceans imports to Hong Kong, together comprising 71% of total imports.
From 2013 to 2023, the biggest increases were recorded for India (with a CAGR of +16.9%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest frozen crustaceans suppliers to Hong Kong were China ($115M), Vietnam ($64M) and India ($21M), with a combined 63% share of total imports.
India, with a CAGR of +12.7%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2023, the frozen crustaceans price stood at $9,608 per ton (CIF, Hong Kong), dropping by -8.4% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 11%. Over the period under review, average import prices reached the maximum at $10,541 per ton in 2019; however, from 2020 to 2023, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Japan ($18,472 per ton), while the price for Ecuador ($5,383 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Japan (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the frozen crustaceans market in Hong Kong SAR, China. 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:
- Prodcom 10203100 - Frozen crustaceans, frozen flours, meals and pellets of crustaceans, fit for human consumption
Country coverage:
- Hong Kong SAR
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Hong Kong SAR, China
- 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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- 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
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- 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- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- 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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- 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- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- 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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
-
LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
