Latin America and the Caribbean: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Latin America and the Caribbean

For the fourth consecutive year, the Latin American market for frozen scallops, including queen scallop recorded decline in sales value, which decreased by X% to $X in 2022. Over the period under review, consumption saw a abrupt setback. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Production of Frozen Scallops, Including Queen Scallop in Latin America and the Caribbean

In value terms, frozen scallops, including queen scallop production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, saw a noticeable decline. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Frozen Scallops, Including Queen Scallop

Exports in Latin America and the Caribbean

For the fourth consecutive year, LatAmerica and the Caribbean recorded growth in overseas shipments of frozen scallops, including queen scallop, which increased by X% to X tons in 2022. Over the period under review, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, frozen scallops, including queen scallop exports expanded markedly to $X in 2022. Total exports indicated a strong expansion 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 2018 indices. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

In 2022, Argentina (X tons) was the main exporter of frozen scallops, including queen scallop, generating X% of total exports. It was distantly followed by Peru (X tons), mixing up a X% share of total exports. The following exporters - Mexico (X tons) and Chile (X tons) - together made up X% of total exports.

Argentina was also the fastest-growing in terms of the frozen scallops, including queen scallop exports, with a CAGR of X% from 2012 to 2022. At the same time, Peru (X%) and Chile (X%) displayed positive paces of growth. Mexico experienced a relatively flat trend pattern. While the share of Argentina (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Chile (X p.p.), Mexico (X p.p.) and Peru (X p.p.) displayed negative dynamics.

In value terms, Argentina ($X), Peru ($X) and Chile ($X) were the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

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

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Chile ($X per ton) and Peru ($X per ton), while Argentina ($X per ton) and Mexico ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Frozen Scallops, Including Queen Scallop

Imports in Latin America and the Caribbean

In 2022, imports of frozen scallops, including queen scallop in Latin America and the Caribbean totaled X tons, growing by X% against the year before. In general, imports recorded strong growth. The pace of growth was the most pronounced in 2021 when imports increased by X%. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, frozen scallops, including queen scallop imports reduced modestly to $X in 2022. Overall, imports continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then declined slightly in the following year.

Imports by Country

Mexico was the major importer of frozen scallops, including queen scallop in Latin America and the Caribbean, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. Chile (X tons) ranks second in terms of the total imports with a X% share, followed by the Dominican Republic (X%) and Brazil (X%). Barbados (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Chile ($X) and Brazil ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Chile, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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 2022, the import price in Latin America and the Caribbean amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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