The import of frozen shrimps and prawns to China is projected to increase steadily from 289 million kilograms in 2024 to 339.77 million kilograms by 2028. In 2023, the volume was positioned at 275 million kilograms. The forecast depicts a consistent year-on-year growth, with percentages demonstrating a healthy increase as the market demand and supply dynamics evolve. Over this forecast period, the compound annual growth rate (CAGR) is anticipated to reflect a stable upward trend, showcasing China's growing appetite for imported seafood products.
Future trends to watch for include:
- China's domestic policy changes and potential tariff adjustments impacting import volumes.
- Environmental sustainability concerns affecting the supply chain of shrimp and prawns globally.
- Fluctuations in consumer preferences towards alternative protein sources that may alter demand.