Hong Kong SAR, China: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Hong Kong SAR, China

The Hong Kong market for frozen scallops, including queen scallop fell modestly to $X in 2022, approximately mirroring 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 saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports from Hong Kong SAR, China

In 2022, the amount of frozen scallops, including queen scallop exported from Hong Kong SAR declined to X tons, waning by X% compared with 2021. Over the period under review, exports showed a deep slump. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, frozen scallops, including queen scallop exports declined to $X in 2022. In general, exports saw a perceptible descent. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Macao SAR (X tons) was the main destination for frozen scallops, including queen scallop exports from Hong Kong SAR, accounting for a X% share of total exports. Moreover, frozen scallops, including queen scallop exports to Macao SAR exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was taken by Canada (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Macao SAR stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Canada (X% per year).

In value terms, Macao SAR ($X), the United States ($X) and Canada ($X) were the largest markets for frozen scallops, including queen scallop exported from Hong Kong SAR worldwide, together comprising X% of total exports.

In terms of the main countries of destination, Canada, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for frozen scallops, including queen scallop stood at $X per ton in 2022, picking up by X% against the previous year. Overall, export price indicated a resilient increase from 2012 to 2022: its price 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, frozen scallops, including queen scallop export price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Brunei Darussalam ($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 Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Scallops, Including Queen Scallop

Imports into Hong Kong SAR, China

In 2022, approx. X tons of frozen scallops, including queen scallop were imported into Hong Kong SAR; waning by X% on the year before. Over the period under review, imports saw a pronounced decrease. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, frozen scallops, including queen scallop imports reached $X in 2022. Overall, imports recorded a perceptible setback. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of frozen scallops, including queen scallop to Hong Kong SAR, accounting for a X% share of total imports. Moreover, frozen scallops, including queen scallop imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. Canada (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Canada (X% per year).

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

From 2012 to 2022, the average annual rate of growth in terms of value from Japan amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Canada (X% per year).

Import Prices by Country

The average import price for frozen scallops, including queen scallop stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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