World - Frozen Scallops, Including Queen Scallop - Market Analysis, Forecast, Size, Trends And Insights
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The article discusses the projected growth of the global market for frozen scallops, including queen scallop, with an expected increase in consumption and market value by 2030. The analysis includes insights on consumption trends, market volume, production, imports, and exports. Details on countries with the highest consumption and production levels, as well as significant fluctuations in import and export prices over the years, are also provided.
Market Forecast
Driven by rising demand for frozen scallops, including queen scallop worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +8.9% for the period from 2022 to 2030, which is projected to bring the market volume to 202K tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +11.9% for the period from 2022 to 2030, which is projected to bring the market value to $3.4B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Frozen Scallops, Including Queen Scallop
In 2022, consumption of frozen scallops, including queen scallop decreased by -25.9% to 102K tons, falling for the third consecutive year after three years of growth. Overall, consumption recorded a pronounced contraction. Over the period under review, global consumption reached the maximum volume at 195K tons in 2019; however, from 2020 to 2022, consumption failed to regain momentum.
The value of the market for frozen scallops, including queen scallop worldwide fell markedly to $1.4B in 2022, with a decrease of -37.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a perceptible shrinkage. Over the period under review, the global market reached the peak level at $2.8B in 2015; however, from 2016 to 2022, consumption failed to regain momentum.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were the United States (15K tons), Japan (13K tons) and China (7.5K tons), with a combined 36% share of global consumption.
From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +17.9%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, Japan ($308M), the United States ($210M) and Hong Kong SAR ($145M) were the countries with the highest levels of market value in 2022, with a combined 47% share of the global market.
The United States, with a CAGR of +18.0%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.
The countries with the highest levels of frozen scallops, including queen scallop per capita consumption in 2022 were Hong Kong SAR (753 kg per 1000 persons), Singapore (390 kg per 1000 persons) and Taiwan (Chinese) (233 kg per 1000 persons).
From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +17.2%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Frozen Scallops, Including Queen Scallop
In 2022, the amount of frozen scallops, including queen scallop produced worldwide stood at 143K tons, increasing by 6.8% against the previous year. The total output volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of 15%. Over the period under review, global production attained the peak volume at 153K tons in 2018; however, from 2019 to 2022, production failed to regain momentum.
In value terms, frozen scallops, including queen scallop production shrank modestly to $2.1B in 2022 estimated in export price. Over the period under review, the total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.4% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of 35%. Over the period under review, global production reached the maximum level at $2.7B in 2016; however, from 2017 to 2022, production remained at a lower figure.
Production By Country
Japan (58K tons) constituted the country with the largest volume of frozen scallops, including queen scallop production, accounting for 40% of total volume. Moreover, frozen scallops, including queen scallop production in Japan exceeded the figures recorded by the second-largest producer, China (23K tons), threefold. Argentina (16K tons) ranked third in terms of total production with an 11% share.
From 2012 to 2022, the average annual growth rate of volume in Japan totaled +3.0%. The remaining producing countries recorded the following average annual rates of production growth: China (+0.0% per year) and Argentina (+0.7% per year).
Imports
World Imports of Frozen Scallops, Including Queen Scallop
In 2022, purchases abroad of frozen scallops, including queen scallop was finally on the rise to reach 98K tons after two years of decline. In general, total imports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -24.9% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 68% against the previous year. As a result, imports reached the peak of 131K tons. From 2020 to 2022, the growth of global imports remained at a somewhat lower figure.
In value terms, frozen scallops, including queen scallop imports skyrocketed to $1.3B in 2022. The total import value increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, global imports reached the maximum at $1.4B in 2014; however, from 2015 to 2022, imports failed to regain momentum.
Imports By Country
In 2022, the United States (20K tons), distantly followed by France (13K tons), China (13K tons), Hong Kong SAR (6.3K tons) and Taiwan (Chinese) (5.5K tons) represented the main importers of frozen scallops, including queen scallop, together mixing up 59% of total imports. The following importers - Canada (3.7K tons), Denmark (3.7K tons), Italy (3.6K tons), the Netherlands (3.4K tons), Australia (2.8K tons), Spain (2.7K tons), Singapore (2.6K tons) and Thailand (1.9K tons) - together made up 25% of total imports.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +10.5%), while imports for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($285M), France ($195M) and Hong Kong SAR ($160M) were the countries with the highest levels of imports in 2022, with a combined 48% share of global imports. Taiwan (Chinese), the Netherlands, Canada, Australia, Singapore, Denmark, Italy, China, Spain and Thailand lagged somewhat behind, together accounting for a further 36%.
Taiwan (Chinese), with a CAGR of +18.5%, 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 global leaders experienced more modest paces of growth.
Import Prices By Country
In 2022, the average import price for frozen scallops, including queen scallop amounted to $13,723 per ton, growing by 13% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 52%. Global import price peaked at $15,732 per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.
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 ($25,536 per ton), while China ($1,824 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) (+8.6%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Frozen Scallops, Including Queen Scallop
Global frozen scallops, including queen scallop exports surged to 139K tons in 2022, rising by 70% on the previous year's figure. Over the period under review, exports showed a buoyant increase. 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 surged to $1.7B in 2022. In general, exports enjoyed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
Exports By Country
In 2022, Japan (45K tons), distantly followed by China (28K tons), Argentina (15K tons), Mauritania (8.9K tons) and Peru (7K tons) were the largest exporters of frozen scallops, including queen scallop, together making up 75% of total exports. France (6.2K tons), the United States (5.1K tons), Canada (4.4K tons), the UK (3.5K tons), Denmark (2.6K tons), the Netherlands (2.5K tons) and Russia (2.3K tons) followed a long way behind the leaders.
From 2012 to 2022, the biggest increases were recorded for Mauritania (with a CAGR of +216.9%), while shipments for the other global leaders experienced more modest paces of growth.
In value terms, the largest frozen scallops, including queen scallop supplying countries worldwide were Japan ($620M), China ($334M) and Argentina ($151M), with a combined 64% share of global exports. Canada, Peru, the United States, France, the UK, the Netherlands, Denmark, Mauritania and Russia lagged somewhat behind, together comprising a further 28%.
Mauritania, with a CAGR of +182.3%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Export Prices By Country
In 2022, the average export price for frozen scallops, including queen scallop amounted to $12,325 per ton, rising by 3.2% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the average export price increased by 9.2%. Over the period under review, the average export prices attained the peak figure at $14,061 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($23,603 per ton), while Mauritania ($1,502 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+4.8%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global market for frozen scallops, including queen scallop. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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