Asia: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Asia

The Asian market for frozen scallops, including queen scallop soared to $X in 2023, jumping by X% against the previous year. The total consumption indicated a noticeable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2023, consumption 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 2023 estimated in export price. The total production indicated moderate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2017 to 2023, production growth remained at a somewhat lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports in Asia

After two years of growth, overseas shipments of frozen scallops, including queen scallop decreased by X% to X tons in 2023. Over the period under review, exports, however, showed a strong increase. The pace of growth was the most pronounced in 2022 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then reduced remarkably in the following year.

In value terms, frozen scallops, including queen scallop exports contracted sharply to $X in 2023. In general, exports, however, enjoyed strong growth. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then fell dramatically in the following year.

Exports by Country

Japan (X tons) and China (X tons) dominates exports structure, together committing X% of total exports. Vietnam (X tons) took a relatively small share of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Japan (with a CAGR of X%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Japan ($X), China ($X) and Vietnam ($X) were the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

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, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, declining by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2016; however, from 2017 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced a decline in the export price figures.

Imports of Frozen Scallops, Including Queen Scallop

Imports in Asia

After two years of growth, supplies from abroad of frozen scallops, including queen scallop decreased by X% to X tons in 2023. Overall, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports attained the maximum at X tons in 2022, and then reduced rapidly in the following year.

In value terms, frozen scallops, including queen scallop imports contracted notably to $X in 2023. Total imports indicated perceptible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, imports reached the peak of $X, and then dropped rapidly in the following year.

Imports by Country

China dominates imports structure, amounting to X tons, which was near X% of total imports in 2023. Hong Kong SAR (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (X%) and Vietnam (X%). Singapore (X tons), Thailand (X tons) and Malaysia (X tons) took a relatively small share of total imports.

China was also the fastest-growing in terms of the frozen scallops, including queen scallop imports, with a CAGR of X% from 2012 to 2023. At the same time, Thailand (X%), Singapore (X%), Taiwan (Chinese) (X%) and Malaysia (X%) displayed positive paces of growth. Vietnam experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total imports, while Malaysia, Vietnam and Hong Kong SAR saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X), China ($X) and Taiwan (Chinese) ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

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

Import Prices by Country

In 2023, the import price in Asia amounted to $X per ton, surging by X% against the previous year. Overall, the import price, however, saw a perceptible reduction. The growth pace was the most rapid in 2016 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: 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 2023, 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