Asia-Pacific: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in Asia-Pacific

The Asia-Pacific frozen norway lobster market soared to $X in 2022, rising by X% against the previous year. In general, consumption, however, enjoyed prominent growth. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Frozen Norway Lobster Production in Asia-Pacific

In value terms, frozen norway lobster production rose remarkably to $X in 2022 estimated in export price. In general, production, however, showed a slight descent. The pace of growth appeared the most rapid in 2015 when the production volume increased by X%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Frozen Norway Lobster Exports

Exports in Asia-Pacific

In 2022, shipments abroad of frozen norway lobsters increased by X% to X tons for the first time since 2016, thus ending a five-year declining trend. In general, exports, however, continue to indicate a slight decline. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen norway lobster exports skyrocketed to $X in 2022. Overall, exports recorded modest growth. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam represented the largest exporting country with an export of around X tons, which finished at X% of total exports. It was distantly followed by India (X tons), making up a X% share of total exports. The following exporters - South Korea (X tons), China (X tons) and Thailand (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to frozen norway lobster exports from Vietnam stood at X%. At the same time, South Korea (X%) and India (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, Thailand (X%) and China (X%) illustrated a downward trend over the same period. India (X p.p.) and South Korea (X p.p.) significantly strengthened its position in terms of the total exports, while Vietnam and China saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Vietnam ($X) remains the largest frozen norway lobster supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by India ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

In Vietnam, frozen norway lobster exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, increasing by X% against the previous year. Overall, the export price continues to indicate a notable expansion. The most prominent rate of growth was recorded in 2017 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the export prices remained at a somewhat lower figure.

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

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

Frozen Norway Lobster Imports

Imports in Asia-Pacific

In 2022, approx. X tons of frozen norway lobsters were imported in Asia-Pacific; growing by X% on the previous year. In general, imports, however, saw a perceptible curtailment. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, frozen norway lobster imports surged to $X in 2022. Over the period under review, imports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

China was the main importer of frozen norway lobsters in Asia-Pacific, with the volume of imports reaching X tons, which was near X% of total imports in 2022. Thailand (X tons) ranks second in terms of the total imports with a X% share, followed by Japan (X%), Australia (X%), Singapore (X%) and South Korea (X%). Hong Kong SAR (X tons) held a relatively small share of total imports.

Imports into China decreased at an average annual rate of X% from 2012 to 2022. At the same time, South Korea (X%), Australia (X%), Japan (X%), Singapore (X%), Hong Kong SAR (X%) and Thailand (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Japan, Thailand, Australia, Singapore, South Korea and Hong Kong SAR increased by X, X, X, X, X and X percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported frozen norway lobsters in Asia-Pacific, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by Singapore, with a X% share.

In China, frozen norway lobster imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (X% per year) and Singapore (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, rising by X% against the previous year. In general, the import price saw a prominent expansion. The most prominent rate of growth was recorded in 2013 an increase of X%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Australia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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