Italy: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Italy

After four years of decline, the Italian market for frozen scallops, including queen scallop increased by 23% to $X in 2021. The market value increased at an average annual rate of +1.6% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports from Italy

In 2021, approx. X tons of frozen scallops, including queen scallop were exported from Italy; picking up by 17% on the previous year's figure. Over the period under review, exports, however, saw a pronounced reduction. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, frozen scallops, including queen scallop exports soared to $X in 2021. Overall, exports, however, saw a relatively flat trend pattern. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Spain (X tons) was the main destination for frozen scallops, including queen scallop exports from Italy, with a 83% share of total exports. Moreover, frozen scallops, including queen scallop exports to Spain exceeded the volume sent to the second major destination, Austria (X tons), more than tenfold. Greece (X tons) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain totaled -4.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+5.4% per year) and Greece (+1.7% per year).

In value terms, Spain ($X) remains the key foreign market for frozen scallops, including queen scallop exports from Italy, comprising 58% of total exports. The second position in the ranking was held by Austria ($X), with a 9.9% share of total exports. It was followed by Croatia, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value to Spain totaled -1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+13.2% per year) and Croatia (+16.2% per year).

Export Prices by Country

In 2021, the average export price for frozen scallops, including queen scallop amounted to $X per ton, growing by 30% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.7%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Croatia ($X per ton), while the average price for exports to Spain ($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 Austria (+7.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Scallops, Including Queen Scallop

Imports into Italy

In 2021, approx. X tons of frozen scallops, including queen scallop were imported into Italy; approximately mirroring the previous year's figure. Over the period under review, imports recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 19% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, frozen scallops, including queen scallop imports soared to $X in 2021. The total import value increased at an average annual rate of +1.8% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, France (X tons) constituted the largest supplier of frozen scallops, including queen scallop to Italy, accounting for a 64% share of total imports. Moreover, frozen scallops, including queen scallop imports from France exceeded the figures recorded by the second-largest supplier, the UK (X tons), eightfold. Denmark (X tons) ranked third in terms of total imports with a 7.5% share.

From 2012 to 2021, the average annual growth rate of volume from France totaled +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-21.9% per year) and Denmark (+5.3% per year).

In value terms, France ($X) constituted the largest supplier of frozen scallops, including queen scallop to Italy, comprising 58% of total imports. The second position in the ranking was held by Denmark ($X), with a 10% share of total imports. It was followed by the UK, with a 9.9% share.

From 2012 to 2021, the average annual growth rate of value from France totaled +24.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+7.7% per year) and the UK (-15.3% per year).

Import Prices by Country

The average import price for frozen scallops, including queen scallop stood at $X per ton in 2021, jumping by 41% against the previous year. Overall, import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Ireland ($X per ton), while the price for Spain ($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 (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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