Vietnam: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Vietnam

In 2023, the Vietnamese market for frozen scallops, including queen scallop decreased by X% to $X for the first time since 2018, thus ending a four-year rising trend. In general, consumption, however, recorded a prominent increase. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Production of Frozen Scallops, Including Queen Scallop in Vietnam

In value terms, frozen scallops, including queen scallop production amounted to $X in 2023 estimated in export price. Overall, production continues to indicate a significant decrease. The growth pace was the most rapid in 2016 with a decrease of X% against the previous year. Frozen scallops, including queen scallop production peaked at $X in 2015; however, from 2016 to 2023, production remained at a lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports from Vietnam

In 2023, after three years of growth, there was significant decline in shipments abroad of frozen scallops, including queen scallop, when their volume decreased by X% to X tons. Over the period under review, exports saw a abrupt contraction. The pace of growth appeared the most rapid in 2022 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, frozen scallops, including queen scallop exports fell to $X in 2023. Overall, exports showed a slight setback. The pace of growth appeared the most rapid in 2022 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

Exports by Country

Denmark (X tons) was the main destination for frozen scallops, including queen scallop exports from Vietnam, with a X% share of total exports. It was followed by the United States (X tons), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of volume to Denmark amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Malaysia (X% per year).

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

From 2012 to 2023, the average annual growth rate of value to Denmark totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Malaysia (X% per year).

Export Prices by Country

The average export price for frozen scallops, including queen scallop stood at $X per ton in 2023, declining by X% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2023: its price 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, frozen scallops, including queen scallop export price increased by X% against 2020 indices. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The export price peaked at $X per ton in 2022, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Scallops, Including Queen Scallop

Imports into Vietnam

In 2023, purchases abroad of frozen scallops, including queen scallop decreased by X% to X tons for the first time since 2018, thus ending a four-year rising trend. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked at X tons in 2014; however, from 2015 to 2023, imports remained at a lower figure.

In value terms, frozen scallops, including queen scallop imports shrank to $X in 2023. In general, imports continue to indicate a noticeable descent. The growth pace was the most rapid in 2016 with an increase of X%. Imports peaked at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

Japan (X tons), Denmark (X tons) and China (X tons) were the main suppliers of frozen scallops, including queen scallop imports to Vietnam, together comprising X% of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen scallops, including queen scallop suppliers to Vietnam were Japan ($X), China ($X) and Denmark ($X), with a combined X% share of total imports. The Philippines and the UK lagged somewhat behind, together comprising a further X%.

Among the main suppliers, the Philippines, 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

The average import price for frozen scallops, including queen scallop stood at $X per ton in 2023, falling by X% against the previous year. Overall, the import price showed a perceptible contraction. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2023, import prices stood at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform