ASEAN: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in ASEAN

The ASEAN frozen norway lobster market reduced slightly to $X in 2023, almost unchanged from the previous year. Overall, consumption, however, continues to indicate a remarkable increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Frozen Norway Lobster Production in ASEAN

In value terms, frozen norway lobster production soared to $X in 2023 estimated in export price. In general, production saw a measured expansion. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2023, production growth failed to regain momentum.

Frozen Norway Lobster Exports

Exports in ASEAN

Frozen norway lobster exports rose markedly to X tons in 2023, increasing by X% against 2022 figures. Overall, exports, however, showed a mild reduction. The pace of growth appeared the most rapid in 2020 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

In value terms, frozen norway lobster exports soared to $X in 2023. In general, exports continue to indicate pronounced growth. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2023 and are expected to retain growth in the immediate term.

Exports by Country

Vietnam prevails in exports structure, amounting to X tons, which was near X% of total exports in 2023. It was distantly followed by Malaysia (X tons), mixing up a X% share of total exports. The following exporters - Thailand (X tons) and Indonesia (X tons) - each accounted for a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to frozen norway lobster exports from Vietnam stood at X%. At the same time, Malaysia (X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of X% from 2012-2023. Thailand experienced a relatively flat trend pattern. By contrast, Indonesia (X%) illustrated a downward trend over the same period. Malaysia (X p.p.) significantly strengthened its position in terms of the total exports, while Vietnam saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest frozen norway lobster supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

In Vietnam, frozen norway lobster exports remained relatively stable over the period from 2012-2023. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2023, the export price in ASEAN amounted to $X per ton, increasing by X% against the previous year. In general, the export price continues to indicate a perceptible expansion. The pace of growth appeared the most rapid in 2017 an increase of X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2023, 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 Thailand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Thailand (X%), while the other leaders experienced more modest paces of growth.

Frozen Norway Lobster Imports

Imports in ASEAN

In 2023, imports of frozen norway lobsters in ASEAN fell sharply to X tons, declining by X% against 2022 figures. In general, imports, however, showed a notable increase. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then fell notably in the following year.

In value terms, frozen norway lobster imports shrank to $X in 2023. Overall, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

Thailand was the key importer of frozen norway lobsters in ASEAN, with the volume of imports resulting at X tons, which was near X% of total imports in 2023. It was distantly followed by Singapore (X tons) and Vietnam (X tons), together achieving a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Singapore (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen norway lobster importing markets in ASEAN were Singapore ($X), Thailand ($X) and Vietnam ($X), with a combined X% share of total imports.

Singapore, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in ASEAN amounted to $X per ton, increasing by X% against the previous year. In general, the import price posted resilient growth. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. The level of import peaked at $X per ton in 2021; however, from 2022 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Singapore ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform