Eastern Asia: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Eastern Asia

The East Asian market for frozen scallops, including queen scallop surged to $X in 2023, with an increase of X% against the previous year. The total consumption indicated a tangible 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. The level of consumption peaked at $X in 2016; however, from 2017 to 2023, consumption failed to regain momentum.

Production of Frozen Scallops, Including Queen Scallop in Eastern Asia

In value terms, frozen scallops, including queen scallop production expanded slightly to $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 years. 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% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2023, production growth failed to regain momentum.

Exports of Frozen Scallops, Including Queen Scallop

Exports in Eastern Asia

In 2023, overseas shipments of frozen scallops, including queen scallop decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports, however, saw a buoyant expansion. The growth pace was the most rapid in 2022 when exports increased by X%. As a result, the exports attained the peak of X tons, and then shrank rapidly in the following year.

In value terms, frozen scallops, including queen scallop exports declined rapidly to $X in 2023. In general, exports, however, continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2022 when exports increased by X%. As a result, the exports attained the peak of $X, and then declined sharply in the following year.

Exports by Country

The biggest shipments were from Japan (X tons) and China (X tons), together recording X% of total export.

From 2012 to 2023, the biggest increases were recorded for Japan (with a CAGR of X%).

In value terms, Japan ($X) and China ($X) constituted the countries with the highest levels of exports in 2023.

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

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was China ($X per ton), while Japan amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%).

Imports of Frozen Scallops, Including Queen Scallop

Imports in Eastern Asia

In 2023, purchases abroad of frozen scallops, including queen scallop decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, imports, however, posted buoyant growth. The pace of growth appeared the most rapid in 2015 when imports increased by X%. The volume of import peaked at X tons in 2022, and then dropped significantly in the following year.

In value terms, frozen scallops, including queen scallop imports reduced dramatically to $X in 2023. Total imports indicated noticeable 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. The growth pace was the most rapid in 2022 with an increase of X%. As a result, imports attained the peak of $X, and then plummeted in the following year.

Imports by Country

China represented the largest importer of frozen scallops, including queen scallop in Eastern Asia, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2023. Hong Kong SAR (X tons) held the second position in the ranking, followed by Taiwan (Chinese) (X tons). All these countries together held near X% 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, Taiwan (Chinese) (X%) displayed positive paces of growth. 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 Taiwan (Chinese) and Hong Kong SAR saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, Hong Kong SAR ($X), China ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of imports in 2023, together comprising X% of total imports.

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

Import Prices by Country

In 2023, the import price in Eastern Asia amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the import price, however, showed a pronounced curtailment. The level of import peaked at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

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 mixed trends in the import price figures.

Source: IndexBox Platform