Saudi Arabia: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Saudi Arabia

In 2021, the Saudi market for frozen scallops, including queen scallop was finally on the rise to reach $X after three years of decline. Overall, consumption, however, saw a significant decline. Frozen scallops, including queen scallop consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Frozen Scallops, Including Queen Scallop in Saudi Arabia

In value terms, frozen scallops, including queen scallop production expanded modestly to $X in 2021 estimated in export price. In general, production saw a slight shrinkage. The pace of growth was the most pronounced in 2017 when the production volume increased by 20% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports from Saudi Arabia

In 2021, after two years of growth, there was decline in shipments abroad of frozen scallops, including queen scallop, when their volume decreased by -2.9% to X tons. In general, exports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 622%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen scallops, including queen scallop exports reached $X in 2021. Overall, exports saw a deep downturn. The growth pace was the most rapid in 2019 with an increase of 229%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

South Korea (X kg) was the main destination for frozen scallops, including queen scallop exports from Saudi Arabia, accounting for a approx. 0.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to South Korea was relatively modest.

In value terms, South Korea ($X) emerged as the key foreign market for frozen scallops, including queen scallop exports from Saudi Arabia.

From 2012 to 2021, the average annual rate of growth in terms of value to South Korea was relatively modest.

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 3.6% against the previous year. Overall, the export price, however, showed a drastic downturn. The most prominent rate of growth was recorded in 2017 an increase of 30%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for South Korea.

From 2012 to 2021, the rate of growth in terms of prices for Kuwait amounted to +1.4% per year.

Imports of Frozen Scallops, Including Queen Scallop

Imports into Saudi Arabia

Frozen scallops, including queen scallop imports into Saudi Arabia totaled X tons in 2021, almost unchanged from the year before. In general, imports saw a significant contraction. The smallest decline of -40.1% was in 2013. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, frozen scallops, including queen scallop imports stood at $X in 2021. Over the period under review, imports faced a dramatic setback. The most prominent rate of growth was recorded in 2013 when imports increased by 23%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, New Zealand (X tons) was the main frozen scallops, including queen scallop supplier to Saudi Arabia, accounting for a 5,067% share of total imports. Moreover, frozen scallops, including queen scallop imports from New Zealand exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from New Zealand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (0.0% per year) and the United Arab Emirates (-33.9% per year).

In value terms, New Zealand ($X) constituted the largest supplier of frozen scallops, including queen scallop to Saudi Arabia, comprising 1,868% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 211% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from New Zealand was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (0.0% per year) and the United Arab Emirates (-25.6% per year).

Import Prices by Country

In 2021, the average import price for frozen scallops, including queen scallop amounted to $X per ton, approximately mirroring the previous year. Overall, the import price continues to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by 106% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

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 the Netherlands ($X per ton), while the price for the United Arab Emirates ($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 United Arab Emirates (+1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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