Compared with the huge success in the Chinese seafood market today, almost no one had lobster for more than a decade ago. Lobster is almost never found in restaurants or at home. However, with the rapid development of society today, the situation has undergone an amazing reversal. How much has changed in the end? Import data can tell everything. In 2016, China imported a total of US$529 million worth of frozen and fresh lobster products.
Why is China's demand for lobster so great? The answer lies in social transformation and increasing purchasing power, just as many developing countries are changing with each passing day. It is worth mentioning that China’s middle class is multiplying and they are increasingly buying “daily” luxury goods in order to meet their own needs.
Stephanie Nadeau, owner of an American lobster company in Maine, one of the major seafood exporting states in the United States, agrees with this trend. “This is a luxury that people can afford,” Stephanie Nadeau told the Associated Press. “One of my clients said that our lobster is one of the cheapest things in a fresh water tank.”
In China, 109 million people have entered the middle class and have surpassed the total population of many developed countries. It is estimated that by 2022, more than half of China’s 1.35 billion people will join the ranks of the middle class. By the end of 2017, people’s average annual salary is expected to exceed $10,700. As Asia's largest economy, the number of high-end aquatic seafood consumers in China continues to increase with rising income.
Which lobster suppliers lead sales in China?
The emerging boom in lobster and crustaceans in China means that maintaining sufficient supply in China requires the participation of global suppliers. Although some seafood products, in addition to domestic producers who purchase Chinese crawfish locally, most of the crustacean suppliers in China are from overseas.
In this particular market, New Zealand is a worthy leader. Lobster, especially crawfish, is New Zealand’s most profitable export product. Its 2016 exports to China amounted to US$219 million.
YangQi Foods has focused on top quality seasoning seafood products for over 8 years in China. As a global supplier in the sushi seafood, seasoning seafood products, YangQi foods is to create added value for customers around the world., but now have become one of the leading suppliers in the seasoning seafood industry in China.
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