China: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in China

In 2022, the Chinese market for frozen scallops, including queen scallop was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, saw a abrupt decline. Frozen scallops, including queen scallop consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Frozen Scallops, Including Queen Scallop in China

In value terms, frozen scallops, including queen scallop production contracted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate noticeable growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports from China

In 2022, shipments abroad of frozen scallops, including queen scallop increased by X% to X tons, rising for the second year in a row after two years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, frozen scallops, including queen scallop exports rose rapidly to $X in 2022. Overall, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for frozen scallops, including queen scallop exports from China, with a X% share of total exports. Moreover, frozen scallops, including queen scallop exports to the United States exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), twofold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, the United States ($X) remains the key foreign market for frozen scallops, including queen scallop exports from China, comprising X% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a X% share of total exports. It was followed by Taiwan (Chinese), with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and Taiwan (Chinese) (X% per year).

Export Prices by Country

In 2022, the average export price for frozen scallops, including queen scallop amounted to $X per ton, approximately mirroring the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2015 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Scallops, Including Queen Scallop

Imports into China

In 2022, purchases abroad of frozen scallops, including queen scallop was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, frozen scallops, including queen scallop imports expanded remarkably to $X in 2022. Overall, imports, however, showed a abrupt slump. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Japan (X tons) was the main supplier of frozen scallops, including queen scallop to China, accounting for a X% share of total imports. It was followed by Russia (X tons), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Japan was relatively modest.

In value terms, Japan ($X) constituted the largest supplier of frozen scallops, including queen scallop to China, comprising X% of total imports. The second position in the ranking was taken by Russia ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Japan amounted to X%.

Import Prices by Country

In 2022, the average import price for frozen scallops, including queen scallop amounted to $X per ton, declining by X% against the previous year. In general, the import price saw a drastic downturn. The most prominent rate of growth was recorded in 2016 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, 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 Japan ($X per ton), while the price for Russia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (X%).

Source: IndexBox Platform

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