U.S.: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in the U.S.

The U.S. market for frozen scallops, including queen scallop skyrocketed to $X in 2021, picking up by 86% 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 posted buoyant growth. Frozen scallops, including queen scallop consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports from the U.S.

After four years of decline, shipments abroad of frozen scallops, including queen scallop increased by 8.1% to X tons in 2021. In general, exports, however, showed a abrupt slump. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, frozen scallops, including queen scallop exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a deep contraction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

France (X tons), Canada (X tons) and the Netherlands (X tons) were the main destinations of frozen scallops, including queen scallop exports from the United States, with a combined 83% share of total exports.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of -0.6%), while shipments for the other leaders experienced a decline.

In value terms, Canada ($X), France ($X) and the Netherlands ($X) were the largest markets for frozen scallops, including queen scallop exported from the United States worldwide, together accounting for 80% of total exports. The UK, South Korea, Australia and Belgium lagged somewhat behind, together comprising a further 7.8%.

South Korea, with a CAGR of +1.7%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average export price for frozen scallops, including queen scallop amounted to $X per ton, growing by 6.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2015 when the average export price increased by 14% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to France ($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 South Korea (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Scallops, Including Queen Scallop

Imports into the U.S.

Frozen scallops, including queen scallop imports into the United States soared to X tons in 2021, increasing by 51% compared with the year before. Overall, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +66.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 83%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, frozen scallops, including queen scallop imports soared to $X in 2021. Over the period under review, imports enjoyed a pronounced increase. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Japan (X tons) and Peru (X tons) were the main suppliers of frozen scallops, including queen scallop imports to the United States, together accounting for 69% of total imports. These countries were followed by Argentina, Canada, the Philippines and Mexico, which together accounted for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +15.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of frozen scallops, including queen scallop to the United States, comprising 37% of total imports. The second position in the ranking was taken by Peru ($X), with an 18% share of total imports. It was followed by Canada, with a 14% share.

From 2012 to 2021, the average annual growth rate of value from Japan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+11.1% per year) and Canada (+2.9% per year).

Import Prices by Country

The average import price for frozen scallops, including queen scallop stood at $X per ton in 2021, increasing by 11% against the previous year. Overall, the import price, however, showed a mild descent. The most prominent rate of growth was recorded in 2015 when the average import price increased by 13%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+6.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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