ASEAN: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in ASEAN

In 2023, after two years of growth, there was significant decline in the ASEAN market for frozen scallops, including queen scallop, when its value decreased by X% to $X. Overall, consumption, however, continues to indicate a remarkable increase. Over the period under review, the market reached the maximum level at $X in 2022, and then reduced in the following year.

Production of Frozen Scallops, Including Queen Scallop in ASEAN

In value terms, frozen scallops, including queen scallop production declined modestly to $X in 2023 estimated in export price. In general, production, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. The level of production peaked at $X in 2015; however, from 2016 to 2023, production remained at a lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports in ASEAN

After two years of growth, shipments abroad of frozen scallops, including queen scallop decreased by X% to X tons in 2023. Over the period under review, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2023, the growth of the exports failed to regain momentum.

In value terms, frozen scallops, including queen scallop exports declined notably to $X in 2023. Overall, exports continue to indicate a noticeable contraction. The growth pace was the most rapid in 2022 when exports increased by X%. As a result, the exports reached the peak of $X, and then dropped rapidly in the following year.

Exports by Country

Vietnam represented the major exporter of frozen scallops, including queen scallop in ASEAN, with the volume of exports recording X tons, which was near X% of total exports in 2023. It was distantly followed by Singapore (X tons), the Philippines (X tons), Malaysia (X tons) and Indonesia (X tons), together creating a X% share of total exports. Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to frozen scallops, including queen scallop exports from Vietnam stood at X%. Singapore (X%), Malaysia (X%), the Philippines (X%), Indonesia (X%) and Thailand (X%) illustrated a downward trend over the same period. While the share of Vietnam (X p.p.), Singapore (X p.p.) and Malaysia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Thailand (X p.p.), the Philippines (X p.p.) and Indonesia (X p.p.) displayed negative dynamics.

In value terms, Vietnam ($X) remains the largest frozen scallops, including queen scallop supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Singapore ($X), with a X% share of total exports. It was followed by the Philippines, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Vietnam stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (X% per year) and the Philippines (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, with a decrease of X% against the previous year. Over the period under review, the export price, however, saw resilient growth. The pace of growth was the most pronounced in 2017 an increase of X%. The level of export peaked at $X per ton in 2022, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Philippines (X%), while the other leaders experienced more modest paces of growth.

Imports of Frozen Scallops, Including Queen Scallop

Imports in ASEAN

After two years of growth, overseas purchases of frozen scallops, including queen scallop decreased by X% to X tons in 2023. Total imports indicated moderate growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2015 indices. The pace of growth was the most pronounced in 2022 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then reduced in the following year.

In value terms, frozen scallops, including queen scallop imports shrank notably to $X in 2023. Total imports indicated a mild expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2023, the growth of imports failed to regain momentum.

Imports by Country

In 2023, Vietnam (X tons), Singapore (X tons), Thailand (X tons) and Malaysia (X tons) represented the key importer of frozen scallops, including queen scallop in ASEAN, creating X% of total import. Indonesia (X tons) held a relatively small share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Thailand (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen scallops, including queen scallop importing markets in ASEAN were Singapore ($X), Thailand ($X) and Vietnam ($X), together comprising X% of total imports.

Thailand, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in ASEAN amounted to $X per ton, which is down by X% against the previous year. Overall, the import price recorded a slight shrinkage. The growth pace was the most rapid in 2016 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2023, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Singapore ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform