SADC: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in SADC

In 2023, the SADC frozen crustaceans market decreased by X% to $X, falling for the second consecutive year after two years of growth. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2023, the growth of the market failed to regain momentum.

Frozen Crustaceans Production in SADC

In value terms, frozen crustaceans production reached $X in 2023 estimated in export price. The total production indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2023, production growth remained at a somewhat lower figure.

Frozen Crustaceans Exports

Exports in SADC

After two years of growth, overseas shipments of frozen crustaceans decreased by X% to X tons in 2023. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen crustaceans exports fell slightly to $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then reduced in the following year.

Exports by Country

In 2023, Madagascar (X tons) was the largest exporter of frozen crustaceans, comprising X% of total exports. Namibia (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Mozambique (X%), Angola (X%) and South Africa (X%).

From 2012 to 2023, average annual rates of growth with regard to frozen crustaceans exports from Madagascar stood at X%. At the same time, Namibia (X%) and Angola (X%) displayed positive paces of growth. Moreover, Namibia emerged as the fastest-growing exporter exported in SADC, with a CAGR of X% from 2012-2023. By contrast, Mozambique (X%) and South Africa (X%) illustrated a downward trend over the same period. Madagascar (X p.p.) and Namibia (X p.p.) significantly strengthened its position in terms of the total exports, while South Africa and Mozambique saw its share reduced by X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Madagascar ($X) remains the largest frozen crustaceans supplier in SADC, comprising X% of total exports. The second position in the ranking was taken by South Africa ($X), with a X% share of total exports. It was followed by Angola, with a X% share.

In Madagascar, frozen crustaceans exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: South Africa (X% per year) and Angola (X% per year).

Export Prices by Country

The export price in SADC stood at $X per ton in 2023, approximately reflecting the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2022, and then dropped modestly in the following year.

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

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

Frozen Crustaceans Imports

Imports in SADC

In 2023, after two years of growth, there was significant decline in supplies from abroad of frozen crustaceans, when their volume decreased by X% to X tons. Over the period under review, imports saw a perceptible contraction. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

In value terms, frozen crustaceans imports fell dramatically to $X in 2023. Overall, imports continue to indicate a noticeable decline. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

South Africa was the major importer of frozen crustaceans in SADC, with the volume of imports reaching X tons, which was approx. X% of total imports in 2023. It was distantly followed by Mauritius (X tons), comprising a X% share of total imports. Seychelles (X tons) held a relatively small share of total imports.

Imports into South Africa decreased at an average annual rate of X% from 2012 to 2023. At the same time, Seychelles (X%) and Mauritius (X%) displayed positive paces of growth. Moreover, Seychelles emerged as the fastest-growing importer imported in SADC, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Mauritius and Seychelles increased by X and X percentage points, respectively.

In value terms, South Africa ($X) constitutes the largest market for imported frozen crustaceans in SADC, comprising X% of total imports. The second position in the ranking was taken by Mauritius ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value in South Africa amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Mauritius (X% per year) and Seychelles (X% per year).

Import Prices by Country

In 2023, the import price in SADC amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 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 Seychelles ($X per ton), while South Africa ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform