The imported volume of crustaceans in Australia has exhibited varying trends over the past decade. In 2023, the import volume stood at 89.63 thousand metric tons. A notable increase of 0.96% was seen in 2023, continuing a steady growth pattern observed in the last two years. Between 2019 and 2023, the compound annual growth rate (CAGR) was 0.74%. In comparison, from 2014 to 2019, the CAGR was 2.31%, showcasing a deceleration in growth rate over time. A significant downturn of 16.12% in 2020 was notable, which was reversed by a 15.63% rise in 2021. Future projections indicate a continued modest growth with a forecasted CAGR of 0.78% over the next five years, reaching 93.85 thousand metric tons by 2028.
Future trends to watch include potential impacts of climate change on crustacean populations, import regulations, and variations in consumer demand influenced by health and sustainability concerns. Additionally, advancements in aquaculture technology could impact the balance of imports versus domestically sourced crustaceans.
