South Africa: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in South Africa

In 2021, after two years of decline, there was significant growth in the South African market for frozen scallops, including queen scallop, when its value increased by 41% to $X. Over the period under review, consumption posted noticeable growth. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Exports of Frozen Scallops, Including Queen Scallop

Exports from South Africa

In 2021, overseas shipments of frozen scallops, including queen scallop were finally on the rise to reach X tons after two years of decline. Over the period under review, exports, however, continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2014 with an increase of 268% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, frozen scallops, including queen scallop exports surged to $X in 2021. In general, exports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2014 when exports increased by 1,375%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Lesotho (X tons) was the main destination for frozen scallops, including queen scallop exports from South Africa, accounting for a 75% share of total exports. Moreover, frozen scallops, including queen scallop exports to Lesotho exceeded the volume sent to the second major destination, Democratic Republic of the Congo (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Lesotho totaled +139.1%.

In value terms, the largest markets for frozen scallops, including queen scallop exported from South Africa were Democratic Republic of the Congo ($X) and Lesotho ($X).

Among the main countries of destination, Lesotho, with a CAGR of +126.5%, saw the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The average export price for frozen scallops, including queen scallop stood at $X per ton in 2021, increasing by 144% against the previous year. In general, the export price showed a perceptible increase. The most prominent rate of growth was recorded in 2014 an increase of 301%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Democratic Republic of the Congo ($X per ton), while the average price for exports to Lesotho amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Democratic Republic of the Congo (+19.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Scallops, Including Queen Scallop

Imports into South Africa

In 2021, overseas purchases of frozen scallops, including queen scallop increased by 20% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2018 with an increase of 144% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, frozen scallops, including queen scallop imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a pronounced slump. The pace of growth appeared the most rapid in 2018 with an increase of 132% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United States (X tons), China (X tons) and the Netherlands (X tons) were the main suppliers of frozen scallops, including queen scallop imports to South Africa, with a combined 100% share of total imports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +28.5%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) constituted the largest supplier of frozen scallops, including queen scallop to South Africa, comprising 73% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 14% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+29.9% per year) and China (-5.6% per year).

Import Prices by Country

The average import price for frozen scallops, including queen scallop stood at $X per ton in 2021, with an increase of 87% against the previous year. Overall, the import price saw a pronounced expansion. The growth pace was the most rapid in 2016 when the average import price increased by 140%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average 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 the Netherlands ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+14.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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