Trade Trends
Global frozen crab exports declined from $2.99B in 2019 to $2.49B in 2023, marking a decrease of 16.72% over the five-year period. The highest export value was recorded in 2021 at $4.37B, followed by a contraction in subsequent years.
This downturn reflects challenges within the frozen crab industry, including fluctuating demand, environmental factors affecting crab populations, and evolving trade policies. While the peak in 2021 suggests a temporary surge in demand, the overall decline highlights the need for adaptive strategies to address market volatility and sustainability concerns.
Top Trading Countries
- Canada led frozen crab exports in 2024 with $1.02B, up from $927.71M in 2023 and $949.15M in 2019. This represents a 10.14% increase from 2023 to 2024, despite a slight decline of 2.26% from 2019 to 2023.
- Russian Federation exported $549.66M in 2023, down from $920.66M in 2019, reflecting a significant 40.30% decrease over the five-year period.
- China recorded $183.59M in 2024, down from $189.96M in 2023 and $241.17M in 2019. This marks a 21.23% decrease from 2019 to 2023 and a further 3.36% decline from 2023 to 2024.
- Norway reached $105.13M in 2024, up from $95.71M in 2023 and $71.79M in 2019. This represents a 33.32% increase from 2019 to 2023 and a 9.85% rise from 2023 to 2024.
- Korea South posted $80.01M in 2024, down from $83.97M in 2023 but up significantly from $26.27M in 2019. This reflects a 219.63% increase from 2019 to 2023, followed by a 4.72% decline from 2023 to 2024.
- Chile exported $82.29M in 2024, up from $73.91M in 2023 and slightly down from $75.61M in 2019. This marks a 2.25% decrease from 2019 to 2023 but an 11.34% rise from 2023 to 2024.
On the Rise
- Netherlands expanded from $10.31M in 2019 to $19.77M in 2023 and $24.76M in 2024. This reflects a 91.75% increase from 2019 to 2023 and a further 25.24% rise from 2023 to 2024.
- Sri Lanka grew from $7.57M in 2019 to $8.07M in 2023 and $9.57M in 2024. This marks a 6.66% increase from 2019 to 2023 and an 18.67% rise from 2023 to 2024.
These countries are showing upward momentum, indicating diversification in export markets and potential opportunities for growth in frozen crab trade.
Disclaimer
These insights are based on available trade data and may not represent the full market reality.
