Eastern Asia: Market for Frozen Scallops, Including Queen Scallop 2025

Market Size for Frozen Scallops, Including Queen Scallop in Eastern Asia

In 2021, the East Asian market for frozen scallops, including queen scallop was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. 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 remained at a somewhat lower figure.

Production of Frozen Scallops, Including Queen Scallop in Eastern Asia

In value terms, frozen scallops, including queen scallop production dropped slightly to $X in 2021 estimated in export price. The total production indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.9% 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 pace of growth appeared the most rapid in 2015 when the production volume increased by 42%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports in Eastern Asia

In 2021, shipments abroad of frozen scallops, including queen scallop was finally on the rise to reach X tons after two years of decline. The total export volume increased at an average annual rate of +4.3% from 2012 to 2021; however, the trend pattern 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 failed to regain momentum.

In value terms, frozen scallops, including queen scallop exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed measured growth. 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, finishing at X tons, which was near 95% of total exports in 2021. Japan (X tons) and Hong Kong SAR (X tons) held a relatively small 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. Japan (-6.1%) and Hong Kong SAR (-10.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +11 percentage points.

In value terms, China ($X) remains the largest frozen scallops, including queen scallop supplier in Eastern Asia, comprising 89% of total exports. The second position in the ranking was taken by Japan ($X), with a 5.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value in China amounted to +4.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Japan (-4.1% per year) and Hong Kong SAR (-4.8% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2021, rising by 8% against the previous year. In general, the export price, however, showed a mild slump. The growth pace was the most rapid in 2013 an increase of 16% against the previous year. The level of export peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

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 Hong Kong SAR (+6.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Frozen Scallops, Including Queen Scallop

Imports in Eastern Asia

In 2021, the amount of frozen scallops, including queen scallop imported in Eastern Asia skyrocketed to X tons, increasing by 54% on the previous year. In general, imports enjoyed a prominent expansion. The growth pace was the most rapid in 2018 when imports increased by 63% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, frozen scallops, including queen scallop imports soared to $X in 2021. Total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +7.2% against 2017 indices. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

China dominates imports structure, accounting for X tons, which was near 89% of total imports in 2021. It was distantly followed by Hong Kong SAR (X tons), committing a 6.8% share of total imports. Taiwan (Chinese) (X tons) followed a long way behind the leaders.

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, Taiwan (Chinese) (+2.4%) displayed positive paces of growth. By contrast, Hong Kong SAR (-1.0%) illustrated a downward trend over the same period. China (+39 p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese) and Hong Kong SAR saw its share reduced by -5.9% and -21.8% from 2012 to 2021, respectively.

In value terms, China ($X), Hong Kong SAR ($X) and Taiwan (Chinese) ($X) constituted the countries with the highest levels of imports in 2021, with a combined 97% share of total imports.

Among the main importing countries, China, with a CAGR of +18.6%, 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 mixed trends in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2021, declining by -14.3% against the previous year. Overall, the import price saw a abrupt downturn. The most prominent rate of growth was recorded in 2016 an increase of 26% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 a decline in the import price figures.

Source: IndexBox Platform

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