Frozen Crab And Crab Meat Market

The global market for frozen crabs and crab meat is expected to see continued growth in both consumption and value from 2022 to 2030, with a forecasted CAGR of +4.5% and +5.2% respectively. Despite a decrease in consumption in 2022, overall consumption has been on the rise, with countries like the United States, Russia, and Japan leading in consumption volumes. Production and import trends show fluctuations, with Canada and Russia being key exporters. Average prices for imports and exports have shown growth over the past decade, with Russia and Pakistan being key players in export prices.

Market Forecast

Driven by increasing demand for frozen crabs and crabs meat worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +4.5% for the period from 2022 to 2030, which is projected to bring the market volume to 609K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.2% for the period from 2022 to 2030, which is projected to bring the market value to $10.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Frozen Crabs And Crab Meat

In 2022, consumption of frozen crabs and crabs meat decreased by -4.3% to 427K tons for the first time since 2015, thus ending a six-year rising trend. The total consumption volume increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global consumption hit record highs at 446K tons in 2021, and then dropped modestly in the following year.

The value of the market for frozen crabs and crabs meat worldwide dropped to $6.8B in 2022, waning by -9.9% against 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). Overall, consumption, however, saw strong growth. As a result, consumption reached the peak level of $7.5B, and then declined in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (86K tons), Russia (80K tons) and Japan (43K tons), together comprising 49% of global consumption. Mexico, China, South Korea, Thailand, Myanmar, Madagascar and Indonesia lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +27.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Russia ($2.1B), the United States ($1.9B) and Japan ($955M) constituted the countries with the highest levels of market value in 2022, together comprising 73% of the global market.

In terms of the main consuming countries, Russia, with a CAGR of +32.4%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of frozen crab and crab meat per capita consumption in 2022 were Russia (557 kg per 1000 persons), South Korea (540 kg per 1000 persons) and Japan (342 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Mexico (with a CAGR of +26.7%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Frozen Crabs And Crab Meat

In 2022, after three years of growth, there was decline in production of frozen crabs and crabs meat, when its volume decreased by -2.2% to 456K tons. The total output volume increased at an average annual rate of +4.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when the production volume increased by 9.2% against the previous year. As a result, production attained the peak volume of 466K tons, and then contracted slightly in the following year.

In value terms, frozen crab and crab meat production shrank to $6.9B in 2022 estimated in export price. Over the period under review, production, however, posted a buoyant increase. The growth pace was the most rapid in 2021 when the production volume increased by 35% against the previous year. As a result, production reached the peak level of $8B, and then reduced in the following year.

Production By Country

Russia (126K tons) constituted the country with the largest volume of frozen crab and crab meat production, accounting for 28% of total volume. Moreover, frozen crab and crab meat production in Russia exceeded the figures recorded by the second-largest producer, Canada (62K tons), twofold. China (41K tons) ranked third in terms of total production with an 8.9% share.

In Russia, frozen crab and crab meat production expanded at an average annual rate of +9.0% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Canada (+0.0% per year) and China (+3.1% per year).

Imports

World Imports of Frozen Crabs And Crab Meat

In 2022, global imports of frozen crabs and crabs meat fell slightly to 209K tons, leveling off at the year before. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 6.1%. Global imports peaked at 230K tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen crab and crab meat imports fell to $3.7B in 2022. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +75.9% against 2013 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 46% against the previous year. As a result, imports attained the peak of $4.1B, and then shrank in the following year.

Imports By Country

In 2022, the United States (82K tons) was the key importer of frozen crabs and crabs meat, achieving 39% of total imports. Japan (22K tons) held a 10% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (9.8%), China (8.5%), Thailand (6.5%) and Indonesia (4.8%). Vietnam (6.1K tons), France (4.8K tons), Taiwan (Chinese) (4.6K tons), Malaysia (3.9K tons) and Spain (3.4K tons) took a minor share of total imports.

Imports into the United States increased at an average annual rate of +3.6% from 2012 to 2022. At the same time, Thailand (+26.1%), Indonesia (+10.3%), France (+2.1%) and Malaysia (+1.7%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in the world, with a CAGR of +26.1% from 2012-2022. Vietnam experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-1.8%), Spain (-1.9%), China (-5.4%), South Korea (-6.0%) and Japan (-6.5%) illustrated a downward trend over the same period. The United States (+13 p.p.), Thailand (+5.9 p.p.) and Indonesia (+3 p.p.) significantly strengthened its position in terms of the global imports, while China, South Korea and Japan saw its share reduced by -5.7%, -7.8% and -9.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($2.2B) constitutes the largest market for imported frozen crabs and crabs meat worldwide, comprising 58% of global imports. The second position in the ranking was taken by Japan ($544M), with a 15% share of global imports. It was followed by China, with a 7% share.

From 2012 to 2022, the average annual growth rate of value in the United States stood at +12.8%. In the other countries, the average annual rates were as follows: Japan (-1.6% per year) and China (+2.5% per year).

Import Prices By Country

The average import price for frozen crabs and crabs meat stood at $17,661 per ton in 2022, shrinking by -9.2% against the previous year. Overall, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen crab and crab meat import price increased by +84.6% against 2013 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 39% against the previous year. As a result, import price attained the peak level of $19,446 per ton, and then fell in the following year.

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 the United States ($26,504 per ton), while Thailand ($2,949 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Frozen Crabs And Crab Meat

In 2022, approx. 239K tons of frozen crabs and crabs meat were exported worldwide; surging by 2.6% compared with 2021. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 9% against the previous year. The global exports peaked at 241K tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, frozen crab and crab meat exports reduced to $3.9B in 2022. Over the period under review, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +75.3% against 2013 indices. The growth pace was the most rapid in 2021 when exports increased by 43% against the previous year. As a result, the exports reached the peak of $4.2B, and then declined in the following year.

Exports By Country

Canada (60K tons) and Russia (46K tons) represented roughly 45% of total exports in 2022. China (22K tons) ranks next in terms of the total exports with a 9.3% share, followed by Democratic People's Republic of Korea (6.7%) and Bahrain (4.9%). Tunisia (8K tons), Pakistan (7.9K tons), the United States (6.1K tons), Vietnam (5.9K tons), Myanmar (5.7K tons), Norway (5.3K tons), Chile (4.4K tons) and Ireland (4K tons) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Tunisia (with a CAGR of +45.3%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Russia ($1.4B), Canada ($1.4B) and China ($195M) constituted the countries with the highest levels of exports in 2022, with a combined 76% share of global exports. Norway, the United States, Chile, Vietnam, Myanmar, Democratic People's Republic of Korea, Bahrain, Ireland, Tunisia and Pakistan lagged somewhat behind, together accounting for a further 14%.

In terms of the main exporting countries, Tunisia, with a CAGR of +70.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average export price for frozen crabs and crabs meat stood at $16,210 per ton in 2022, declining by -10.8% against the previous year. In general, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen crab and crab meat export price increased by +50.0% against 2014 indices. The most prominent rate of growth was recorded in 2021 an increase of 32%. As a result, the export price reached the peak level of $18,174 per ton, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Russia ($30,361 per ton), while Pakistan ($2,040 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+17.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform