Bulgaria: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Bulgaria

After two years of decline, the Bulgarian market for frozen scallops, including queen scallop increased by 52% to $X in 2021. Overall, consumption, however, saw a abrupt shrinkage. Frozen scallops, including queen scallop consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Frozen Scallops, Including Queen Scallop in Bulgaria

In value terms, frozen scallops, including queen scallop production expanded remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, faced a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of 7.2%. Frozen scallops, including queen scallop production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports from Bulgaria

In 2021, shipments abroad of frozen scallops, including queen scallop decreased by -46.1% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2017 when exports increased by 7,466%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen scallops, including queen scallop exports shrank markedly to $X in 2021. Overall, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 1,516%. The exports peaked at $X in 2020, and then fell remarkably in the following year.

Exports by Country

The Netherlands (X tons) and Greece (X tons) were the main destinations of frozen scallops, including queen scallop exports from Bulgaria.

From 2012 to 2021, the biggest increases were recorded for Greece (with a CAGR of +81.6%).

In value terms, the Netherlands ($X) remains the key foreign market for frozen scallops, including queen scallop exports from Bulgaria, comprising 74% of total exports. The second position in the ranking was taken by Greece ($X), with a 25% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the Netherlands amounted to -12.6%.

Export Prices by Country

In 2021, the average export price for frozen scallops, including queen scallop amounted to $X per ton, waning by -11.2% against the previous year. In general, the export price, however, posted a temperate increase. The pace of growth was the most pronounced in 2018 when the average export price increased by 709%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Greece stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Greece (+3.3%).

Imports of Frozen Scallops, Including Queen Scallop

Imports into Bulgaria

In 2021, purchases abroad of frozen scallops, including queen scallop was finally on the rise to reach X tons after three years of decline. In general, imports, however, faced a deep downturn. The pace of growth appeared the most rapid in 2015 with an increase of 248%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, frozen scallops, including queen scallop imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2015 when imports increased by 102%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Denmark (X tons), the Netherlands (X tons) and Belgium (X tons) were the main suppliers of frozen scallops, including queen scallop imports to Bulgaria, with a combined 96% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (with a CAGR of +30.4%), while imports for the other leaders experienced a decline.

In value terms, Belgium ($X) constituted the largest supplier of frozen scallops, including queen scallop to Bulgaria, comprising 60% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 21% share of total imports. It was followed by Denmark, with an 18% share.

From 2012 to 2021, the average annual growth rate of value from Belgium stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-3.3% per year) and Denmark (+5.9% per year).

Import Prices by Country

In 2021, the average import price for frozen scallops, including queen scallop amounted to $X per ton, with an increase of 22% against the previous year. Over the period under review, the import price saw a resilient expansion. The pace of growth appeared the most rapid in 2016 an increase of 119% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average 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 Belgium ($X per ton), while the price for Greece ($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 Netherlands (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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