Vietnam: Market for Prepared Or Preserved Crab Meat 2024

Market Size for Prepared Or Preserved Crab Meat in Vietnam

The Vietnamese market for prepared or preserved crab meat surged to $X in 2023, rising by X% against the previous year. In general, consumption, however, recorded a deep setback. Prepared or preserved crab meat consumption peaked at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Production of Prepared Or Preserved Crab Meat in Vietnam

In value terms, prepared or preserved crab meat production rose rapidly to $X in 2023 estimated in export price. In general, production, however, showed a pronounced setback. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. Prepared or preserved crab meat production peaked at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Exports of Prepared Or Preserved Crab Meat

Exports from Vietnam

After three years of growth, overseas shipments of prepared or preserved crab meat decreased by X% to X tons in 2023. Overall, exports continue to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, prepared or preserved crab meat exports contracted to $X in 2023. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2022, and then reduced in the following year.

Exports by Country

The United States (X tons), Japan (X tons) and Canada (X tons) were the main destinations of prepared or preserved crab meat exports from Vietnam, with a combined X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Japan (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for prepared or preserved crab meat exported from Vietnam were the United States ($X), Japan ($X) and Australia ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Japan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2023, the average export price for prepared or preserved crab meat amounted to $X per ton, approximately reflecting the previous year. Overall, export price indicated a pronounced expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, prepared or preserved crab meat export price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2023, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Australia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prepared Or Preserved Crab Meat

Imports into Vietnam

In 2023, overseas purchases of prepared or preserved crab meat decreased by X% to X tons for the first time since 2016, thus ending a six-year rising trend. Overall, imports, however, showed a significant increase. The pace of growth was the most pronounced in 2022 when imports increased by X%. As a result, imports reached the peak of X tons, and then fell markedly in the following year.

In value terms, prepared or preserved crab meat imports reduced dramatically to $X in 2023. Over the period under review, imports, however, enjoyed a significant increase. The growth pace was the most rapid in 2022 when imports increased by X%. As a result, imports attained the peak of $X, and then contracted remarkably in the following year.

Imports by Country

South Korea (X tons) and Japan (X tons) were the main suppliers of prepared or preserved crab meat imports to Vietnam.

From 2012 to 2023, the biggest increases were recorded for South Korea (with a CAGR of X%).

In value terms, the largest prepared or preserved crab meat suppliers to Vietnam were South Korea ($X) and Japan ($X).

Among the main suppliers, South Korea, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

In 2023, the average import price for prepared or preserved crab meat amounted to $X per ton, stabilizing at the previous year. Overall, the import price showed noticeable growth. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2022 to 2023, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for South Korea totaled $X per ton.

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

Source: IndexBox Platform