Chile: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Chile

The Chilean market for frozen scallops, including queen scallop skyrocketed to $X in 2021, jumping by 72% against the previous year. In general, consumption enjoyed a strong increase. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in years to come.

Production of Frozen Scallops, Including Queen Scallop in Chile

In value terms, frozen scallops, including queen scallop production expanded rapidly to $X in 2021 estimated in export price. Over the period under review, production showed a measured increase. The pace of growth appeared the most rapid in 2016 with an increase of 99% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports from Chile

Frozen scallops, including queen scallop exports from Chile shrank markedly to X tons in 2021, reducing by -21.9% on 2020. In general, exports, however, recorded a notable expansion. The growth pace was the most rapid in 2018 with an increase of 69% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen scallops, including queen scallop exports contracted to $X in 2021. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when exports increased by 106% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for frozen scallops, including queen scallop exports from Chile, with a 91% share of total exports. Moreover, frozen scallops, including queen scallop exports to Spain exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold. The third position in this ranking was taken by Portugal (X tons), with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume to Spain amounted to +23.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-11.5% per year) and Portugal (+3.1% per year).

In value terms, Spain ($X) remains the key foreign market for frozen scallops, including queen scallop exports from Chile, comprising 91% of total exports. The second position in the ranking was held by the United States ($X), with a 4% share of total exports. It was followed by Portugal, with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain stood at +24.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-15.3% per year) and Portugal (+9.5% per year).

Export Prices by Country

The average export price for frozen scallops, including queen scallop stood at $X per ton in 2021, growing by 26% against the previous year. Over the period under review, the export price, however, recorded a pronounced descent. The pace of growth appeared the most rapid in 2016 when the average export price increased by 34%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the 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 United States ($X per ton), while the average price for exports to France ($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 Portugal (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Scallops, Including Queen Scallop

Imports into Chile

In 2021, supplies from abroad of frozen scallops, including queen scallop increased by 172% to X tons, rising for the second year in a row after three years of decline. Overall, imports saw a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, frozen scallops, including queen scallop imports surged to $X in 2021. Over the period under review, imports posted a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Peru (X tons), China (X tons) and Argentina (X tons) were the main suppliers of frozen scallops, including queen scallop imports to Chile.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Peru (with a CAGR of +30.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen scallops, including queen scallop suppliers to Chile were Peru ($X), China ($X) and Argentina ($X).

Among the main suppliers, Peru, with a CAGR of +22.7%, saw 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

In 2021, the average import price for frozen scallops, including queen scallop amounted to $X per ton, increasing by 22% against the previous year. Over the period under review, the import price, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2018 when the average import price increased by 22%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (-5.7%).

Source: IndexBox Platform

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