Prepared Or Preserved Crab Meat Market

The market for prepared or preserved crab meat is expected to see growth in both volume and value terms from 2022 to 2030, with an anticipated CAGR of +1.3% and +3.4% respectively. Consumption, production, imports, and exports of crab meat are analyzed, with countries like China, the US, and India leading in consumption and production. The United States is the largest importer and consumer of crab meat, while China is the largest producer and exporter. Prices for crab meat show fluctuations over the period analyzed, with Indonesia having the highest export price and the Netherlands having the lowest.

Market Forecast

Driven by rising demand for prepared or preserved crab meat worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.3% for the period from 2022 to 2030, which is projected to bring the market volume to 370K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.4% for the period from 2022 to 2030, which is projected to bring the market value to $5.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Prepared Or Preserved Crab Meat

In 2022, consumption of prepared or preserved crab meat increased by 0.3% to 333K tons, rising for the second year in a row after three years of decline. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Global consumption peaked at 375K tons in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

The revenue of the market for prepared or preserved crab meat worldwide reached $4.3B in 2022, stabilizing at 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). In general, consumption saw a relatively flat trend pattern. Global consumption peaked at $4.6B in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (61K tons), the United States (35K tons) and India (23K tons), with a combined 36% share of global consumption. Pakistan, Nigeria, Russia, Bangladesh, Indonesia, Japan, Germany, Brazil, Mexico and France lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Nigeria (with a CAGR of +11.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($852M), China ($463M) and India ($424M) appeared to be the countries with the highest levels of market value in 2022, with a combined 41% share of the global market. Japan, Russia, Germany, Brazil, Bangladesh, Indonesia, Pakistan, Nigeria, France and Mexico lagged somewhat behind, together comprising a further 31%.

Nigeria, with a CAGR of +12.3%, saw the highest rates of growth with regard to market size in terms of the main consuming countries 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 prepared or preserved crab meat per capita consumption in 2022 were Germany (114 kg per 1000 persons), France (104 kg per 1000 persons) and the United States (103 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +8.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Prepared Or Preserved Crab Meat

Global prepared or preserved crab meat production shrank modestly to 335K tons in 2022, standing approx. at the previous year. Over the period under review, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 9.8%. As a result, production reached the peak volume of 405K tons. From 2017 to 2022, global production growth failed to regain momentum.

In value terms, prepared or preserved crab meat production reduced to $4B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 18% against the previous year. Over the period under review, global production attained the peak level at $4.3B in 2018; however, from 2019 to 2022, production failed to regain momentum.

Production By Country

China (76K tons) constituted the country with the largest volume of prepared or preserved crab meat production, comprising approx. 23% of total volume. Moreover, prepared or preserved crab meat production in China exceeded the figures recorded by the second-largest producer, India (27K tons), threefold. The third position in this ranking was held by Indonesia (24K tons), with a 7.2% share.

From 2012 to 2022, the average annual growth rate of volume in China stood at -2.9%. In the other countries, the average annual rates were as follows: India (+0.2% per year) and Indonesia (+2.2% per year).

Imports

World Imports of Prepared Or Preserved Crab Meat

In 2022, overseas purchases of prepared or preserved crab meat increased by 2.2% to 61K tons, rising for the second year in a row after two years of decline. In general, imports, however, continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2021 with an increase of 14% against the previous year. Over the period under review, global imports attained the peak figure at 82K tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, prepared or preserved crab meat imports dropped to $1.3B in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 47%. Over the period under review, global imports reached the maximum at $1.4B in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports By Country

The United States was the largest importer of prepared or preserved crab meat in the world, with the volume of imports resulting at 34K tons, which was near 56% of total imports in 2022. It was distantly followed by Japan (7.1K tons) and France (3.3K tons), together creating a 17% share of total imports. Hong Kong SAR (1.8K tons), Malaysia (1.7K tons) and Canada (1.4K tons) took a relatively small share of total imports.

The United States experienced a relatively flat trend pattern with regard to volume of imports of prepared or preserved crab meat. At the same time, Malaysia (+11.1%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in the world, with a CAGR of +11.1% from 2012-2022. Canada experienced a relatively flat trend pattern. By contrast, France (-1.5%), Japan (-7.4%) and Hong Kong SAR (-14.9%) illustrated a downward trend over the same period. The United States (+11 p.p.) and Malaysia (+2.1 p.p.) significantly strengthened its position in terms of the global imports, while Japan and Hong Kong SAR saw its share reduced by -7% and -8.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($910M) constitutes the largest market for imported prepared or preserved crab meat worldwide, comprising 69% of global imports. The second position in the ranking was taken by Japan ($170M), with a 13% share of global imports. It was followed by France, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value in the United States stood at +2.7%. In the other countries, the average annual rates were as follows: Japan (-5.4% per year) and France (-0.8% per year).

Import Prices By Country

The average import price for prepared or preserved crab meat stood at $21,902 per ton in 2022, shrinking by -2.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2021 an increase of 29% against the previous year. As a result, import price attained the peak level of $22,512 per ton, and then fell modestly 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 ($26,677 per ton), while Malaysia ($1,527 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+7.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Prepared Or Preserved Crab Meat

In 2022, global prepared or preserved crab meat exports dropped to 62K tons, which is down by -5% against the previous year's figure. Overall, exports recorded a noticeable descent. The pace of growth appeared the most rapid in 2016 when exports increased by 30%. As a result, the exports reached the peak of 110K tons. From 2017 to 2022, the growth of the global exports remained at a somewhat lower figure.

In value terms, prepared or preserved crab meat exports dropped notably to $1.3B in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 53% against the previous year. The global exports peaked at $1.6B in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

China (15K tons) and Indonesia (14K tons) represented roughly 46% of total exports in 2022. Vietnam (5.4K tons) held an 8.7% share (based on physical terms) of total exports, which put it in second place, followed by Venezuela (6%), South Korea (5.8%) and India (5.5%). The following exporters - the Philippines (2.6K tons), Canada (1.5K tons), the United States (1.5K tons), Belgium (1.3K tons), the Netherlands (1.3K tons), the UK (1.2K tons) and Thailand (1.2K tons) - together made up 17% of total exports.

From 2012 to 2022, the biggest increases were recorded for Venezuela (with a CAGR of +9.9%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the largest prepared or preserved crab meat supplying countries worldwide were Indonesia ($370M), China ($364M) and Vietnam ($105M), with a combined 63% share of global exports. Venezuela, the Philippines, India, South Korea, Canada, the UK, Belgium, Thailand, the United States and the Netherlands lagged somewhat behind, together comprising a further 28%.

Venezuela, with a CAGR of +15.7%, saw the highest growth rate of the value of exports, in terms of the main exporting countries 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 prepared or preserved crab meat stood at $21,446 per ton in 2022, shrinking by -10.7% against the previous year. In general, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, prepared or preserved crab meat export price increased by +21.1% against 2020 indices. The growth pace was the most rapid in 2017 when the average export price increased by 37% against the previous year. The global export price peaked at $24,023 per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($27,152 per ton), while the Netherlands ($8,940 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+7.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform