Vietnam: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in Vietnam

The Vietnamese market for frozen scallops, including queen scallop expanded sharply to $X in 2022, with an increase of X% against the previous year. Overall, consumption showed a strong expansion. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Production of Frozen Scallops, Including Queen Scallop in Vietnam

In value terms, frozen scallops, including queen scallop production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of X%. Frozen scallops, including queen scallop production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Frozen Scallops, Including Queen Scallop

Exports from Vietnam

Frozen scallops, including queen scallop exports from Vietnam soared to X tons in 2022, rising by X% compared with 2021 figures. Overall, exports, however, recorded a noticeable decrease. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, frozen scallops, including queen scallop exports skyrocketed to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Denmark (X tons) was the main destination for frozen scallops, including queen scallop exports from Vietnam, accounting for a X% share of total exports. Moreover, frozen scallops, including queen scallop exports to Denmark exceeded the volume sent to the second major destination, France (X tons), tenfold. The third position in this ranking was held by Singapore (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Denmark amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Singapore (X% per year).

In value terms, Denmark ($X) remains the key foreign market for frozen scallops, including queen scallop exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by France ($X), with an X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Denmark stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Singapore (X% per year).

Export Prices by Country

In 2022, the average export price for frozen scallops, including queen scallop amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 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 remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Australia ($X per ton) and Denmark ($X per ton), while the average price for exports to Singapore ($X per ton) and France ($X per ton) were amongst the lowest.

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

Imports of Frozen Scallops, Including Queen Scallop

Imports into Vietnam

For the fourth year in a row, Vietnam recorded growth in purchases abroad of frozen scallops, including queen scallop, which increased by X% to X tons in 2022. Over the period under review, imports posted a remarkable increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, frozen scallops, including queen scallop imports soared to $X in 2022. Overall, imports enjoyed strong growth. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Imports by Country

Denmark (X tons), Japan (X tons) and China (X tons) were the main suppliers of frozen scallops, including queen scallop imports to Vietnam, with a combined X% share of total imports. France and the Philippines lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (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 suppliers to Vietnam were Denmark ($X), Japan ($X) and China ($X), with a combined X% share of total imports. France and the Philippines lagged somewhat behind, together accounting for a further X%.

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

Import Prices by Country

The average import price for frozen scallops, including queen scallop stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price, however, saw a deep reduction. The most prominent rate of growth was recorded in 2016 when the average import price increased by X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Denmark ($X per ton) and Japan ($X per ton), while the price for France ($X per ton) and the Philippines ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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