Denmark: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Denmark

In 2021, the Danish market for frozen scallops, including queen scallop decreased by -35.8% to $X, falling for the second year in a row after two years of growth. In general, consumption saw a perceptible curtailment. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Frozen Scallops, Including Queen Scallop in Denmark

In value terms, frozen scallops, including queen scallop production soared to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a deep setback. The pace of growth appeared the most rapid in 2014 when the production volume increased by 95% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Exports of Frozen Scallops, Including Queen Scallop

Exports from Denmark

For the fourth year in a row, Denmark recorded growth in overseas shipments of frozen scallops, including queen scallop, which increased by 16% to X tons in 2021. Overall, exports posted a moderate expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 44% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, frozen scallops, including queen scallop exports soared to $X in 2021. The total export value increased at an average annual rate of +1.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Vietnam (X tons) was the main destination for frozen scallops, including queen scallop exports from Denmark, with a 75% share of total exports. Moreover, frozen scallops, including queen scallop exports to Vietnam exceeded the volume sent to the second major destination, Italy (X tons), eightfold. France (X tons) ranked third in terms of total exports with a 4.6% share.

From 2012 to 2021, the average annual growth rate of volume to Vietnam stood at +3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+9.1% per year) and France (+6.0% per year).

In value terms, the largest markets for frozen scallops, including queen scallop exported from Denmark were Vietnam ($X), Italy ($X) and France ($X), with a combined 75% share of total exports.

In terms of the main countries of destination, Italy, with a CAGR of +11.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for frozen scallops, including queen scallop amounted to $X per ton, jumping by 20% against the previous year. Overall, the export price, however, continues to indicate a slight decrease. The export price 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 destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Vietnam ($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 Germany (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Scallops, Including Queen Scallop

Imports into Denmark

In 2021, purchases abroad of frozen scallops, including queen scallop increased by 1.9% to X tons, rising for the fourth consecutive year after five years of decline. Overall, imports posted a modest expansion. The growth pace was the most rapid in 2019 with an increase of 58% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, frozen scallops, including queen scallop imports skyrocketed to $X in 2021. Over the period under review, total imports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +81.8% against 2017 indices. The pace of growth was the most pronounced in 2019 when imports increased by 46%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Faroe Islands (X tons) constituted the largest supplier of frozen scallops, including queen scallop to Denmark, with a 65% share of total imports. Moreover, frozen scallops, including queen scallop imports from Faroe Islands exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), threefold. The third position in this ranking was held by the Netherlands (X tons), with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Faroe Islands totaled +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+1.5% per year) and the Netherlands (+90.2% per year).

In value terms, Vietnam ($X), Faroe Islands ($X) and the Netherlands ($X) appeared to be the largest frozen scallops, including queen scallop suppliers to Denmark, together accounting for 77% of total imports.

In terms of the main suppliers, the Netherlands, with a CAGR of +81.7%, saw the highest rates of growth with regard to 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 2021, increasing by 16% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The import price peaked at $X per ton in 2017; however, from 2018 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 Germany ($X per ton), while the price for Faroe Islands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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