Australia: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Australia

The Australian market for frozen scallops, including queen scallop skyrocketed to $X in 2021, increasing by 63% against the previous year. Over the period under review, consumption, however, continues to indicate a abrupt setback. Frozen scallops, including queen scallop consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Production of Frozen Scallops, Including Queen Scallop in Australia

In value terms, frozen scallops, including queen scallop production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2017 when the production volume increased by 99.9%. Frozen scallops, including queen scallop production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Exports of Frozen Scallops, Including Queen Scallop

Exports from Australia

In 2021, exports of frozen scallops, including queen scallop from Australia contracted rapidly to X tons, waning by -47.5% on the year before. In general, exports saw a abrupt descent. The growth pace was the most rapid in 2017 with an increase of 95% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, frozen scallops, including queen scallop exports fell significantly to $X in 2021. Over the period under review, exports saw a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by 102% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Singapore (X tons), Hong Kong SAR (X tons) and China (X tons) were the main destinations of frozen scallops, including queen scallop exports from Australia, with a combined 99% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +30.6%), while the other leaders experienced mixed trend patterns.

In value terms, Singapore ($X), Hong Kong SAR ($X) and China ($X) constituted the largest markets for frozen scallops, including queen scallop exported from Australia worldwide, together accounting for 98% of total exports.

In terms of the main countries of destination, China, with a CAGR of +32.0%, 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 trend patterns.

Export Prices by Country

The average export price for frozen scallops, including queen scallop stood at $X per ton in 2021, surging by 18% against the previous year. In general, the export price, however, recorded a abrupt descent. The pace of growth was the most pronounced in 2018 when the average export price increased by 46% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Hong Kong SAR ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+1.1%), while the prices for the other major destinations experienced a decline.

Imports of Frozen Scallops, Including Queen Scallop

Imports into Australia

In 2021, approx. X tons of frozen scallops, including queen scallop were imported into Australia; increasing by 45% on the previous year. In general, imports, however, recorded a deep contraction. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, frozen scallops, including queen scallop imports surged to $X in 2021. Overall, imports, however, showed a deep contraction. Imports peaked at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Japan (X tons) and Peru (X tons) were the main suppliers of frozen scallops, including queen scallop imports to Australia, together accounting for 92% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +0.0%), while imports for the other leaders experienced a decline.

In value terms, China ($X), Japan ($X) and Canada ($X) were the largest frozen scallops, including queen scallop suppliers to Australia, with a combined 89% share of total imports.

Japan, with a CAGR of -1.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average import price for frozen scallops, including queen scallop stood at $X per ton in 2021, rising by 5.3% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2016 when the average import price increased by 13% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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