ECOWAS: Market for Frozen Scallops, Including Queen Scallop 2024

Market Size for Frozen Scallops, Including Queen Scallop in ECOWAS

The ECOWAS market for frozen scallops, including queen scallop dropped notably to $X in 2023, waning by X% against the previous year. Over the period under review, consumption continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2020; however, from 2021 to 2023, consumption failed to regain momentum.

Production of Frozen Scallops, Including Queen Scallop in ECOWAS

In value terms, frozen scallops, including queen scallop production dropped modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2023, production growth failed to regain momentum.

Exports of Frozen Scallops, Including Queen Scallop

Exports in ECOWAS

Frozen scallops, including queen scallop exports skyrocketed to X tons in 2023, rising by X% compared with the previous year's figure. Over the period under review, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, frozen scallops, including queen scallop exports surged to $X in 2023. In general, exports saw a resilient increase. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

In 2023, Senegal (X tons) was the major exporter of frozen scallops, including queen scallop in ECOWAS, committing X% of total export.

Senegal was also the fastest-growing in terms of the frozen scallops, including queen scallop exports, with a CAGR of X% from 2012 to 2023. While the share of Senegal (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) also remains the largest frozen scallops, including queen scallop supplier in ECOWAS.

In Senegal, frozen scallops, including queen scallop exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price, however, recorded a pronounced reduction. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Senegal.

From 2012 to 2023, the rate of growth in terms of prices for Senegal amounted to X% per year.

Imports of Frozen Scallops, Including Queen Scallop

Imports in ECOWAS

In 2023, overseas purchases 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. In general, imports saw a strong expansion. The most prominent rate of growth was recorded in 2013 when imports increased by X%. The volume of import peaked in 2023 and is expected to retain growth in the near future.

In value terms, frozen scallops, including queen scallop imports shrank notably to $X in 2023. Over the period under review, imports enjoyed a buoyant increase. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2023, imports failed to regain momentum.

Imports by Country

Burkina Faso (X tons), Cabo Verde (X tons), Cote d'Ivoire (X tons), Mali (X tons), Senegal (X tons) and Benin (X tons) represented roughly X% of total imports in 2023. Niger (X kg) took a relatively small share of total imports.

From 2012 to 2023, the biggest increases were recorded for Mali (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported frozen scallops, including queen scallop in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Mali ($X), with a X% share of total imports. It was followed by Cabo Verde, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Cote d'Ivoire stood at X%. In the other countries, the average annual rates were as follows: Mali (X% per year) and Cabo Verde (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2023, dropping by X% against the previous year. In general, the import price saw a pronounced descent. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2023, the 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 Cote d'Ivoire ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Benin (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform