Asia: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Asia

In 2022, the Asian market for frozen scallops, including queen scallop decreased by X% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption showed a noticeable reduction. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Production of Frozen Scallops, Including Queen Scallop in Asia

In value terms, frozen scallops, including queen scallop production stood at $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2017 indices. The growth pace was the most rapid in 2015 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports in Asia

In 2022, overseas shipments of frozen scallops, including queen scallop increased by X% to X tons, rising for the second year in a row after two years of decline. In general, exports recorded prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen scallops, including queen scallop exports skyrocketed to $X in 2022. Over the period under review, exports posted a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Japan was the main exporting country with an export of around X tons, which amounted to X% of total exports. It was distantly followed by China (X tons), generating a X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Japan (with a CAGR of X%).

In value terms, the largest frozen scallops, including queen scallop supplying countries in Asia were Japan ($X) and China ($X).

Among the main exporting countries, Japan, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2015 when the export price increased by X%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Imports of Frozen Scallops, Including Queen Scallop

Imports in Asia

In 2022, overseas purchases of frozen scallops, including queen scallop increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports continue to indicate a slight increase. The pace of growth appeared the most rapid in 2019 with an increase of X%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, frozen scallops, including queen scallop imports skyrocketed to $X in 2022. Total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by X%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China represented the key importer of frozen scallops, including queen scallop in Asia, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. It was distantly followed by Hong Kong SAR (X tons), Taiwan (Chinese) (X tons), Singapore (X tons), Thailand (X tons) and Malaysia (X tons), together mixing up a X% share of total imports. South Korea (X tons) took a relatively small share of total imports.

China experienced a relatively flat trend pattern with regard to volume of imports of frozen scallops, including queen scallop. At the same time, Thailand (X%), Taiwan (Chinese) (X%), Singapore (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. By contrast, Hong Kong SAR (X%) and South Korea (X%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (X p.p.), Singapore (X p.p.) and Thailand (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (X p.p.), Hong Kong SAR (X p.p.) and China (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X), Taiwan (Chinese) ($X) and Singapore ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports.

Taiwan (Chinese), with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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