Norway: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Norway

The Norwegian market for frozen scallops, including queen scallop rose modestly to $X in 2021, with an increase of 3.5% 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). In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports from Norway

In 2021, shipments abroad of frozen scallops, including queen scallop increased by 75% to X tons for the first time since 2016, thus ending a four-year declining trend. Over the period under review, exports, however, faced a abrupt decrease. The pace of growth was the most pronounced in 2015 with an increase of 309%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, frozen scallops, including queen scallop exports surged to $X in 2021. Overall, exports, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2015 with an increase of 457% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Denmark (X tons) was the main destination for frozen scallops, including queen scallop exports from Norway, accounting for a 62% share of total exports. Moreover, frozen scallops, including queen scallop exports to Denmark exceeded the volume sent to the second major destination, Turkey (X kg), twofold.

From 2012 to 2021, the average annual growth rate of volume to Denmark stood at -8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+833.3% per year) and Sweden (-30.9% per year).

In value terms, Denmark ($X) emerged as the key foreign market for frozen scallops, including queen scallop exports from Norway, comprising 69% of total exports. The second position in the ranking was held by Turkey ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Denmark amounted to -7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+742.2% per year) and Sweden (-33.5% per year).

Export Prices by Country

The average export price for frozen scallops, including queen scallop stood at $X per ton in 2021, with an increase of 7.1% against the previous year. In general, the export price, however, recorded a noticeable slump. The most prominent rate of growth was recorded in 2015 an increase of 36% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Turkey ($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 Denmark (+1.0%), while the prices for the other major destinations experienced a decline.

Imports of Frozen Scallops, Including Queen Scallop

Imports into Norway

In 2021, overseas purchases of frozen scallops, including queen scallop decreased by -15% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports recorded a pronounced decrease. The most prominent rate of growth was recorded in 2013 with an increase of 28%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, frozen scallops, including queen scallop imports totaled $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 40%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Canada (X tons) constituted the largest frozen scallops, including queen scallop supplier to Norway, with a 58% share of total imports. Moreover, frozen scallops, including queen scallop imports from Canada exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Denmark (X tons) ranked third in terms of total imports with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Canada totaled +22.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-14.2% per year) and Denmark (-8.0% per year).

In value terms, Canada ($X) constituted the largest supplier of frozen scallops, including queen scallop to Norway, comprising 66% of total imports. The second position in the ranking was taken by the United States ($X), with a 22% share of total imports. It was followed by Denmark, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value from Canada stood at +23.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-12.6% per year) and Denmark (-0.6% per year).

Import Prices by Country

In 2021, the average import price for frozen scallops, including queen scallop amounted to $X per ton, picking up by 29% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Canada ($X per ton), while the price for Faroe Islands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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