Latin America and the Caribbean: Market for Frozen Scallops, Including Queen Scallop 2025

Market Size for Frozen Scallops, Including Queen Scallop in Latin America and the Caribbean

For the third year in a row, the Latin American market for frozen scallops, including queen scallop recorded decline in sales value, which decreased by -41.1% to $X in 2021. In general, consumption saw a deep downturn. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Production of Frozen Scallops, Including Queen Scallop in Latin America and the Caribbean

In value terms, frozen scallops, including queen scallop production expanded notably to $X in 2021 estimated in export price. Overall, production, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 13%. Over the period under review, production reached the maximum level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports in Latin America and the Caribbean

In 2021, frozen scallops, including queen scallop exports in Latin America and the Caribbean surged to X tons, growing by 39% compared with 2020 figures. In general, exports showed a prominent increase. The pace of growth was the most pronounced in 2019 with an increase of 75% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, frozen scallops, including queen scallop exports surged to $X in 2021. Total exports indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +76.2% against 2018 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Peru (X tons) and Argentina (X tons) prevails in exports structure, together making up 93% of total exports. Chile (X tons) and Mexico (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Peru (with a CAGR of +7.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Argentina ($X) and Chile ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 97% of total exports.

Peru, with a CAGR of +5.3%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, surging by 21% against the previous year. In general, the export price, however, recorded a mild descent. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Chile ($X per ton) and Peru ($X per ton), while Argentina ($X per ton) and Mexico ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+1.4%), while the other leaders experienced a decline in the export price figures.

Imports of Frozen Scallops, Including Queen Scallop

Imports in Latin America and the Caribbean

In 2021, frozen scallops, including queen scallop imports in Latin America and the Caribbean surged to X tons, jumping by 139% against 2020. In general, imports enjoyed a resilient 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. Overall, imports showed a resilient increase. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Mexico (X tons) and Chile (X tons) were the main importers of frozen scallops, including queen scallop in Latin America and the Caribbean, together creating 74% of total imports. It was distantly followed by Brazil (X tons), mixing up a 10% share of total imports. Jamaica (X tons), Aruba (X tons), the Dominican Republic (X tons) and Argentina (X tons) held a minor share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Argentina (with a CAGR of +42.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen scallops, including queen scallop importing markets in Latin America and the Caribbean were Mexico ($X), Chile ($X) and Brazil ($X), together comprising 83% of total imports. Aruba, Jamaica, the Dominican Republic and Argentina lagged somewhat behind, together comprising a further 9.5%.

In terms of the main importing countries, Argentina, with a CAGR of +42.6%, recorded 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

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, rising by 5.8% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 33% against the previous year. The level of import peaked 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 importing countries. In 2021, amid the top importers, the country with the highest price was Brazil ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Aruba (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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