Thailand: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Thailand

In 2022, after two years of decline, there was significant growth in the Thai market for frozen scallops, including queen scallop, when its value increased by X% to $X. In general, consumption showed strong growth. Frozen scallops, including queen scallop consumption peaked in 2022 and is likely to continue growth in the near future.

Production of Frozen Scallops, Including Queen Scallop in Thailand

In value terms, frozen scallops, including queen scallop production stood at $X in 2022 estimated in export price. In general, the total production indicated a resilient 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 decreased by X% against 2020 indices. The growth pace was the most rapid in 2018 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports from Thailand

In 2022, the amount of frozen scallops, including queen scallop exported from Thailand contracted dramatically to X tons, waning by X% against the year before. In general, exports recorded a dramatic descent. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, frozen scallops, including queen scallop exports contracted to $X in 2022. Overall, exports continue to indicate a precipitous curtailment. The pace of growth appeared the most rapid in 2014 when exports increased by X%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for frozen scallops, including queen scallop exports from Thailand, with a X% share of total exports. Moreover, frozen scallops, including queen scallop exports to the United States exceeded the volume sent to the second major destination, Singapore (X kg), more than tenfold. The third position in this ranking was taken by the Philippines (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and the Philippines (X% per year).

In value terms, the United States ($X) remains the key foreign market for frozen scallops, including queen scallop exports from Thailand, comprising X% of total exports. The second position in the ranking was held by the Philippines ($X), with a X% share of total exports. It was followed by Iceland, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Iceland (X% per year).

Export Prices by Country

The average export price for frozen scallops, including queen scallop stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price continues to indicate a resilient increase. The growth pace was the most rapid in 2018 an increase of X%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Scallops, Including Queen Scallop

Imports into Thailand

Frozen scallops, including queen scallop imports into Thailand skyrocketed to X tons in 2022, with an increase of X% against the year before. In general, imports recorded a buoyant increase. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, frozen scallops, including queen scallop imports surged to $X in 2022. Overall, imports recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of frozen scallops, including queen scallop to Thailand, accounting for a X% share of total imports. Moreover, frozen scallops, including queen scallop imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and the United States (X% per year).

In value terms, Japan ($X), China ($X) and the United States ($X) were the largest frozen scallops, including queen scallop suppliers to Thailand, together accounting for X% of total imports.

Japan, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average import price for frozen scallops, including queen scallop amounted to $X per ton, increasing by X% against the previous year. Overall, import price indicated a mild expansion from 2012 to 2022: its price 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, frozen scallops, including queen scallop import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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