Japan: Market for Frozen Scallops, Including Queen Scallop 2023

Market Size for Frozen Scallops, Including Queen Scallop in Japan

In 2021, after three years of growth, there was decline in the Japanese market for frozen scallops, including queen scallop, when its value decreased by -2.1% to $X. In general, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +32.9% against 2017 indices. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Production of Frozen Scallops, Including Queen Scallop in Japan

In value terms, frozen scallops, including queen scallop production reduced modestly to $X in 2021 estimated in export price. Overall, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +32.6% against 2017 indices. The growth pace was the most rapid in 2015 when the production volume increased by 51% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports from Japan

In 2021, shipments abroad of frozen scallops, including queen scallop increased by 65% to X tons, rising for the third year in a row after six years of decline. Overall, exports, however, recorded a deep setback. The pace of growth appeared the most rapid in 2020 with an increase of 85% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, frozen scallops, including queen scallop exports surged to $X in 2021. In general, exports, however, saw a perceptible decline. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tons), the United States (X tons) and Thailand (X tons) were the main destinations of frozen scallops, including queen scallop exports from Japan, together accounting for 57% of total exports. Hong Kong SAR, Australia, Vietnam, Indonesia, Singapore and South Korea lagged somewhat behind, together comprising a further 36%.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +47.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), the United States ($X) and Hong Kong SAR ($X) were the largest markets for frozen scallops, including queen scallop exported from Japan worldwide, with a combined 65% share of total exports. These countries were followed by Thailand, Australia, Singapore, Vietnam, South Korea and Indonesia, which together accounted for a further 27%.

Among the main countries of destination, Thailand, with a CAGR of +28.6%, saw the highest growth rate of 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

In 2021, the average export price for frozen scallops, including queen scallop amounted to $X per ton, picking up by 11% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.1%. The pace of growth appeared the most rapid in 2015 an increase of 12% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, 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 Singapore ($X per ton), while the average price for exports to Indonesia ($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 (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Scallops, Including Queen Scallop

Imports into Japan

After two years of decline, overseas purchases of frozen scallops, including queen scallop increased by 3.8% to X tons in 2021. Over the period under review, imports, however, recorded a abrupt slump. The pace of growth was the most pronounced in 2018 when imports increased by 7.4%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, frozen scallops, including queen scallop imports rose slightly to $X in 2021. Overall, imports, however, faced a abrupt decline. The pace of growth was the most pronounced in 2018 when imports increased by 7.2% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) was the main supplier of frozen scallops, including queen scallop to Japan, accounting for a 97% share of total imports. It was followed by Vietnam (X tons), with a 2.3% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -12.5%.

In value terms, China ($X) constituted the largest supplier of frozen scallops, including queen scallop to Japan, comprising 98% of total imports. The second position in the ranking was held by Vietnam ($X), with a 0.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -13.1%.

Import Prices by Country

The average import price for frozen scallops, including queen scallop stood at $X per ton in 2021, flattening at the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 16% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+1.5%).

Source: IndexBox Market Intelligence Platform

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