Asia-Pacific: Market for Frozen Scallops, Including Queen Scallop 2025

Market Size for Frozen Scallops, Including Queen Scallop in Asia-Pacific

The Asia-Pacific market for frozen scallops, including queen scallop was finally on the rise to reach $X in 2021, after two years of decline. The total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Production of Frozen Scallops, Including Queen Scallop in Asia-Pacific

In value terms, frozen scallops, including queen scallop production dropped to $X in 2021 estimated in export price. The total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by +0.2% against 2019 indices. The growth pace was the most rapid in 2015 when the production volume increased by 42% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Exports of Frozen Scallops, Including Queen Scallop

Exports in Asia-Pacific

In 2021, shipments abroad of frozen scallops, including queen scallop was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total exports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen scallops, including queen scallop exports surged to $X in 2021. Overall, exports saw a temperate expansion. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

China dominates exports structure, amounting to X tons, which was near 89% of total exports in 2021. The following exporters - Japan (X tons), Vietnam (X tons), Hong Kong SAR (X tons) and the Philippines (X tons) - each resulted at an 8.7% share of total exports.

China was also the fastest-growing in terms of the frozen scallops, including queen scallop exports, with a CAGR of +5.8% from 2012 to 2021. The Philippines (-5.7%), Japan (-6.1%), Hong Kong SAR (-10.1%) and Vietnam (-12.3%) illustrated a downward trend over the same period. China (+23 p.p.) significantly strengthened its position in terms of the total exports, while the Philippines, Japan, Hong Kong SAR and Vietnam saw its share reduced by -1.9%, -2.8%, -4.7% and -6.6% from 2012 to 2021, respectively.

In value terms, China ($X) remains the largest frozen scallops, including queen scallop supplier in Asia-Pacific, comprising 83% of total exports. The second position in the ranking was taken by Japan ($X), with a 5.2% share of total exports. It was followed by Hong Kong SAR, with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China stood at +4.5%. In the other countries, the average annual rates were as follows: Japan (-4.1% per year) and Hong Kong SAR (-4.8% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2021, with an increase of 8.3% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the export price increased by 17% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, 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 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+14.7%), while the other leaders experienced more modest paces of growth.

Imports of Frozen Scallops, Including Queen Scallop

Imports in Asia-Pacific

Frozen scallops, including queen scallop imports skyrocketed to X tons in 2021, growing by 50% compared with the previous year. In general, imports recorded a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen scallops, including queen scallop imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

China dominates imports structure, accounting for X tons, which was approx. 81% of total imports in 2021. It was distantly followed by Hong Kong SAR (X tons), achieving a 6.1% share of total imports. The following importers - Vietnam (X tons), Taiwan (Chinese) (X tons), Singapore (X tons) and Australia (X tons) - together made up 9.2% of total imports.

China was also the fastest-growing in terms of the frozen scallops, including queen scallop imports, with a CAGR of +23.7% from 2012 to 2021. At the same time, Singapore (+8.4%) and Taiwan (Chinese) (+2.4%) displayed positive paces of growth. Vietnam experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-1.0%) and Australia (-7.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +46 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Hong Kong SAR ($X) and Taiwan (Chinese) ($X) were the countries with the highest levels of imports in 2021, with a combined 79% share of total imports.

China, with a CAGR of +18.6%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, dropping by -12.4% against the previous year. Over the period under review, the import price continues to indicate a deep setback. The pace of growth appeared the most rapid in 2016 an increase of 28% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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