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Global Crab Market Navigates Shifting Supply, Tariff Headwinds, and Divergent Price Trends Despite Higher Quotas

Crab prices likely to come down this year due to higher quotas

The demand for crab has surged in recent years, driven by rising consumer interest in high-value, premium seafood. In the United States of America, for example, crabs are among the top seafood imports, alongside shrimp and salmon. Representing about 3 percent of the total trade value of world fisheries and aquaculture products per year, the crab market was valued at USD 7 million in 2022, going down to USD 6.3 million in 2023. This compares to USD 31 million registered for shrimp trade in the same year. In 2024, prices increased for the main species, with king crab from the Russian Federation hit by the ongoing embargo in the US market.

Crab Supply

Crab relies mainly on capture fisheries for supply as compared to shrimp, which largely depends on aquaculture production. The Kamchatka crab (also known as the king crab) is the most important species traded and is highly valued, especially in premium markets in Asia and North America. Other significant species include the snow crab, blue crab and mud crab, each catering to different regional preferences.

The king crab market in the United States is experiencing significant shifts in 2025. Alaska has reclaimed its position as the top supplier of red and golden king crab, surpassing other sources. In fact, the Alaska king crab fisheries has made a strong comeback after reopening, with the species having now overtaken lobster as the top luxury shellfish in the United States despite record-breaking prices. The Bering Sea red king crab fishery produced over 900 tonnes in the 2024–2025 season, while the golden king crab fishery along the Aleutian Islands has a quota of 2 200 tonnes.

The Dungeness crab market in the United States in 2025 is facing some challenges due to lower projected landings compared to previous years. In 2023, total landings from Alaska to California reached 108 million pounds, but estimates for 2024 suggest a decline to 75–80 million pounds. The commercial fishing season has seen delays, particularly in California, where concerns over whale entanglements and marine heat waves have impacted operations. The Oregon Department of Fish and Wildlife has reported a slow start to the season due to stormy weather, with over 4.2 million pounds landed so far at an average dock price of USD 5 per pound.

The Bering Sea snow crab fishery in Alaska has reopened in 2025 after being closed for two years due to a sharp decline in crab populations. The fishery had suffered significant losses, with an estimated 10 billion snow crabs disappearing between 2018 and 2021 due to a marine heatwave and ecological shifts. This year, the industry is working with National Oceanic and Atmospheric Administration (NOAA) Fisheries to help the fishery operate smoothly using regulatory flexibilities, though the crab population remains at low abundance. This fishery is an important economic driver, historically generating an average of USD 150 million annually from 2012 to 2021. The commercial snow crab season kicked off in January 2025, with the first catch delivered on 15 January. Fishermen were allotted about 4.72 million pounds of snow crab this season, which is relatively low compared to historic catch limits. Reports indicate that the best fishing spots are in the far northern portions of the grounds, where larger snow crabs are being found.

The Canadian snow crab industry is facing significant challenges in 2025, largely due to the 25 percent tariff imposed by the United States on Canadian imports. This tariff has created major concerns for snow crab producers, particularly in New Brunswick, where the US market is seen as a dominant buyer. Industry leaders fear that the tariff will lead to lower demand from US buyers, as retailers may either pass the cost increase onto consumers or demand lower prices from Canadian suppliers. This could result in financial strain for both fishermen and processors, especially since the industry is already dealing with a 30 percent reduction in quota. Additionally, the tariff could benefit competitors like Norway, whose snow crab exports to the United States have been growing, particularly after sanctions were placed on Russian crab. The uncertainty surrounding trade policies has left Canadian seafood exporters scrambling to find alternative markets or strategies to mitigate losses.

International trade

Total world crab imports in 2024 were 454 000 tonnes, roughly at par with the figure of the previous year. The United States used to be the main crab importer, but lost its place to China in 2023. In 2024, total US imports of crab were 105 000 tonnes, some 7 percent less than in 2023. On the other hand, Chinese imports were 134 000 tonnes, a steep 10 percent increase from the 119 000 tonnes reported in 2023.

Canada is the main supplier of crab to the US market, reporting a substantial decline in 2024 due to lower catches. Potential US tariffs are likely to impact this trade in 2025. Indonesia is a distant second supplier, reporting some increases in shipments. China and the Republic of Korea are the second and third biggest crab importers in the world. These countries have a high demand for crab meat, driven by their culinary traditions and robust food service industries.

The largest suppliers to China in 2024 were the Russian Federation (34 percent of the total), Viet Nam (11 percent) and Canada (8 percent). Relative to 2023, Viet Nam showed an impressive increase in its supply to the Chinese market in 2024.

Prices

Tanner crab is selling at USD 5.75 per pound currently, in line with the prices reached in early 2024. This price was negotiated by the Kodiak Crab Alliance Cooperative, which represents the local fleet. The dockside price is about USD 2 higher than last year, when Tanner crab sold for USD 3.70 per pound. However, in some markets, Tanner crab prices have reached USD 8.10 per pound, reflecting strong demand and market fluctuations.

In the United States, crab prices vary depending on the species and market conditions. For example, the retail price range is approximately USD 15.77 to USD 66.89 per kg. Wholesale prices are slightly lower, ranging from USD 11.04 to USD 46.82 per kg. In China, crab prices are generally more affordable, the wholesale price range being around USD 9.38 to USD 23.80 per kg.

In early 2025, crab harvesters were getting USD 10.00 per pound for the massive king crabs in Alaska, about USD 2.00 more than they initially received last year. Notably, the golden king crab fishery in Southeast Alaska hit an all-time high value of USD 5 million, despite lower harvest volumes. Meanwhile, despite the opening of the Alaska fisheries, prices of snow crab continue to go up in the United States as supplies are scarce. The wholesale price in early January 2025 reached USD 8.85 per pound, which compares to USD 8.10 in mid-November 2024 and USD 5.60 per pound in January 2024.

Retail prices for imported Norwegian red king crab have jumped 15–25 percent, reaching USD 60 per pound for the 6/9 count and USD 55 per pound for the 9/12 count sizes.

Outlook

Supply of crab in the US market is expected to improve in 2025, compared with the disappointing situation in 2024. As most crab fisheries throughout the United States have been granted higher quotas, prices are likely to decrease in the course of the year. For example, the supply situation for king crab appears better this year, due to the higher quotas in Alaska. The main exception is Dungeness crab, where supply is expected to be low, and for which the prices should be higher this year.

For snow crab, the situation brightened in late 2024. The Alaska fishery will show good results in 2025, with quite firm prices in the market. Supplies of Dungeness crab are tight and expected to remain so. Thus, prices are going up for this species.

Global crab suppliers to the US market will be impacted by current and incoming tariffs, and prices are likely to go up. Specific to trade with Canada, the 25 percent US tariff on snow crab imports marks a significant shift in trade policy, ending decades of free trade and causing disruptions in the seafood industry. Canada supplies 91 percent of the snow crab supply to the United States, and this tariff, expected to start on 2 June, will likely increase costs for US importers by approximately USD 1 billion.

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