Sweden: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Sweden

The Swedish market for frozen scallops, including queen scallop soared to $X in 2021, growing by 17% 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). Over the period under review, consumption, however, saw a noticeable contraction. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Exports of Frozen Scallops, Including Queen Scallop

Exports from Sweden

In 2021, shipments abroad of frozen scallops, including queen scallop increased by 13% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports showed a strong increase. The pace of growth was the most pronounced in 2020 with an increase of 886% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, frozen scallops, including queen scallop exports skyrocketed to $X in 2021. Overall, exports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 1,327%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the near future.

Exports by Country

Norway (X tons) was the main destination for frozen scallops, including queen scallop exports from Sweden, accounting for a 65% share of total exports. Moreover, frozen scallops, including queen scallop exports to Norway exceeded the volume sent to the second major destination, Denmark (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to Norway amounted to +68.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+9.9% per year) and Finland (-15.5% per year).

In value terms, Norway ($X) remains the key foreign market for frozen scallops, including queen scallop exports from Sweden, comprising 65% of total exports. The second position in the ranking was held by Denmark ($X), with a 31% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Norway totaled +100.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+16.1% per year) and Finland (-13.0% 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 8% against the previous year. Over the period under review, export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine years. 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 +103.8% against 2018 indices. The pace of growth was the most pronounced in 2020 when the average export price increased by 45% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Finland ($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 Norway (+19.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Scallops, Including Queen Scallop

Imports into Sweden

In 2021, supplies from abroad of frozen scallops, including queen scallop increased by 14% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, imports, however, continue to indicate a slight decline. The growth pace was the most rapid in 2020 with an increase of 35%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, frozen scallops, including queen scallop imports surged to $X in 2021. In general, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 42% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Canada (X tons), the United States (X tons) and Denmark (X tons) were the main suppliers of frozen scallops, including queen scallop imports to Sweden, together comprising 87% of total imports.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +12.9%), while purchases for the other leaders experienced a decline.

In value terms, Canada ($X), Denmark ($X) and the United States ($X) were the largest frozen scallops, including queen scallop suppliers to Sweden, with a combined 89% share of total imports.

In terms of the main suppliers, Canada, with a CAGR of +17.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average import price for frozen scallops, including queen scallop amounted to $X per ton, growing by 3.5% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.2%. The most prominent rate of growth was recorded in 2017 when the average import price increased by 19% against the previous year. The import price peaked in 2021 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 ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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