Luxembourg: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Luxembourg

The Luxembourg market for frozen scallops, including queen scallop shrank to $X in 2021, reducing by -10.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Exports of Frozen Scallops, Including Queen Scallop

Exports from Luxembourg

In 2021, approx. X tons of frozen scallops, including queen scallop were exported from Luxembourg; growing by 20% on 2020 figures. Overall, exports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 59%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen scallops, including queen scallop exports soared to $X in 2021. In general, exports, however, saw a perceptible downturn. The pace of growth was the most pronounced in 2016 with an increase of 99% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

France (X tons) was the main destination for frozen scallops, including queen scallop exports from Luxembourg, accounting for a 62% share of total exports. Moreover, frozen scallops, including queen scallop exports to France exceeded the volume sent to the second major destination, Belgium (X kg), twofold. The third position in this ranking was held by Germany (X kg), with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume to France stood at -8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-7.0% per year) and Germany (+4.3% per year).

In value terms, France ($X) remains the key foreign market for frozen scallops, including queen scallop exports from Luxembourg, comprising 65% of total exports. The second position in the ranking was held by Belgium ($X), with a 26% share of total exports. It was followed by Germany, with a 6% share.

From 2012 to 2021, the average annual growth rate of value to France stood at -3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (-2.4% per year) and Germany (+7.5% per year).

Export Prices by Country

The average export price for frozen scallops, including queen scallop stood at $X per ton in 2021, standing approx. at the previous year. Overall, export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen scallops, including queen scallop export price increased by +59.8% against 2015 indices. The most prominent rate of growth was recorded in 2016 an increase of 25% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see steady growth in the near future.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were France ($X per ton) and Belgium ($X per ton), while the average price for exports to Azerbaijan ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ghana (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Scallops, Including Queen Scallop

Imports into Luxembourg

In 2021, after two years of growth, there was significant decline in overseas purchases of frozen scallops, including queen scallop, when their volume decreased by -15% to X tons. In general, imports, however, posted noticeable growth. The most prominent rate of growth was recorded in 2016 when imports increased by 88% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, frozen scallops, including queen scallop imports contracted slightly to $X in 2021. Overall, imports continue to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2018 with an increase of 66% against the previous year. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Belgium (X tons) was the main supplier of frozen scallops, including queen scallop to Luxembourg, with a 94% share of total imports. Moreover, frozen scallops, including queen scallop imports from Belgium exceeded the figures recorded by the second-largest supplier, France (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Belgium stood at +9.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-9.4% per year) and the Netherlands (-26.7% per year).

In value terms, Belgium ($X) constituted the largest supplier of frozen scallops, including queen scallop to Luxembourg, comprising 81% of total imports. The second position in the ranking was held by France ($X), with a 14% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Belgium was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: France (-4.5% per year) and the Netherlands (-25.9% per year).

Import Prices by Country

In 2021, the average import price for frozen scallops, including queen scallop amounted to $X per ton, with an increase of 13% against the previous year. Over the period under review, the import price, however, showed a abrupt descent. The pace of growth appeared the most rapid in 2018 an increase of 87% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 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 France ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+5.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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