China's Frozen Crustaceans Imports Decline By 4%, Dropping to $6.4 Billion in 2023 - News and Statistics - IndexBox

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Frozen crustaceans imports into China rose notably to 1.1M tons in 2023, growing by 12% compared with the previous year. In general, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2019 with an increase of 167% against the previous year. Imports peaked in 2023 and are likely to continue growth in years to come.

In value terms, frozen crustaceans imports reduced to $6.4B (IndexBox estimates) in 2023. Overall, imports saw a significant expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 126% against the previous year. Imports peaked at $6.6B in 2022, and then contracted in the following year.

In 2023, Ecuador (697K tons) constituted the largest supplier of frozen crustaceans to China, accounting for a 64% share of total imports. Moreover, frozen crustaceans imports from Ecuador exceeded the figures recorded by the second-largest supplier, India (143K tons), fivefold. Canada (38K tons) ranked third in terms of total imports with a 3.4% share.

From 2013 to 2023, the average annual growth rate of volume from Ecuador totaled +57.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+37.4% per year) and Canada (+0.9% per year).

In value terms, Ecuador ($3.5B) constituted the largest supplier of frozen crustaceans to China, comprising 56% of total imports. The second position in the ranking was held by India ($813M), with a 13% share of total imports. It was followed by Canada, with a 4.5% share.

From 2013 to 2023, the average annual growth rate of value from Ecuador amounted to +51.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+33.0% per year) and Canada (+4.9% per year).

In 2023, the frozen crustaceans price stood at $5,824 per ton (CIF, China), which is down by -14.7% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by 32% against the previous year. As a result, import price attained the peak level of $9,334 per ton. From 2017 to 2023, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Russia ($14,716 per ton), while the price for Saudi Arabia ($4,768 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Russia (+14.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the frozen crustaceans market in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

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