Global Frozen Scallop Market Size, By Type of Scallops, By Form of Product, By End User, By Geographic Scope And Forecast

Frozen Scallop Market Size And Forecast

Frozen Scallop Market size was valued at USD 14.59 Billion in 2023 and is expected to reach USD 22.73 Billion by the end of 2031, with a CAGR of 5.71% During the Forecast Period 2024-2031.

To Get Detailed Analysis: Download Report PDF

Global Frozen Scallop Market Drivers

The market drivers for the Frozen Scallop Market can be influenced by various factors. These may include:

• Increasing Consumer Demand: The growing trend toward healthy eating has significantly influenced the demand for seafood, particularly frozen scallops. Consumers are increasingly aware of the health benefits associated with seafood, including high protein content, omega-3 fatty acids, and low calories.
• Technological Advancements in Freezing Techniques: Innovations in freezing techniques, such as blast freezing and cryogenic freezing, have improved the quality and shelf life of frozen scallops. These advancements help retain the freshness, texture, and taste of the seafood, making it a more appealing option for consumers.
• Supply Chain Improvements: The frozen scallop market has seen enhancements in the supply chain, including streamlined logistics, improved cold storage solutions, and better distribution networks. These improvements have facilitated quicker and more efficient movement of frozen scallops from harvesting to consumers, ensuring freshness and quality while reducing spoilage and waste.
• Globalization and Trade Policies: Globalization has led to increased trade opportunities in the frozen scallop market, allowing for greater access to seabed resources in diverse geographic locations. Trade liberalization and favorable international trade policies have enabled countries to export and import seafood products, expanding market reach and consumer choices.
• Sustainability and Environmental Awareness: As environmental concerns rise, consumers and businesses are increasingly prioritizing sustainable sourcing practices. This shift in attitude has prompted many fisheries to adopt sustainable harvesting practices and certifications, which, in turn, create market opportunities for responsibly sourced frozen scallops.
• Growth of Food Service Industry: The food service sector, including restaurants, hotels, and catering services, has witnessed significant growth, which has positively impacted the frozen scallop market. As the food service industry expands, the demand for ready-to-cook and high-quality frozen seafood products, including scallops, has increased.
• E-commerce and Online Retail Growth: The rise of e-commerce has transformed how consumers shop for food products, including frozen seafood. Online platforms offer convenience, variety, and often competitive pricing, which appeal to a growing segment of consumers.

Global Frozen Scallop Market Restraints

Several factors can act as restraints or challenges for the Frozen Scallop Market, These may include:

• Environmental Regulations: One of the primary restraints in the frozen scallop market is the stringent environmental regulations imposed on fishing practices. Overfishing, habitat destruction, and sustainability concerns have led to tighter regulations aimed at protecting marine ecosystems.
• High Production and Processing Costs: The production and processing costs for frozen scallops are relatively high due to several factors. These include the costs associated with fishing equipment, transportation, and the need for specialized processing facilities that adhere to sanitary standards.
• Price Volatility: The frozen scallop market is subject to price volatility driven by various factors such as supply and demand fluctuations, changing harvesting conditions, and geopolitical events. For instance, adverse weather conditions can affect harvests, leading to shortages and price spikes.
• Competition from Alternative Seafood Products: The frozen scallop market faces stiff competition from alternative seafood products, including other shellfish like shrimp, mussels, and clams, as well as fish products such as cod and tilapia. These alternatives may be available at a lower price or offer different taste profiles, appealing to a broader consumer base.
• Supply Chain Challenges: Supply chain issues can significantly affect the frozen scallop market. Factors such as transportation delays, customs regulations, and geopolitical tensions can disrupt the flow of goods from fishing zones to processing facilities and ultimately to retailers.
• Consumer Preferences and Trends: Changing consumer preferences and dietary trends can also pose restraints on the frozen scallop market. As more consumers become health-conscious, they may seek out alternative protein sources that are perceived as healthier or more sustainable.

Global Frozen Scallop Market Segmentation Analysis

The Global Frozen Scallop Market is Segmented on the basis of Type of Scallops, Form of Product, End User, and Geography.

Frozen Scallop Market, By Type of Scallops

• Sea Scallops
• Bay Scallops

The Frozen Scallop Market is primarily segmented by the type of scallops, which include two key sub-segments: Sea Scallops and Bay Scallops. Sea scallops (Placopecten magellanicus) are larger in size, typically reaching up to ten inches in diameter, and are renowned for their sweet, rich flavor and firm texture. They are primarily harvested from the North Atlantic and are highly sought after in high-end restaurants and culinary applications, often prepared as grilled, seared, or baked dishes. The demand for sea scallops has surged due to their versatility and gourmet appeal, leading to increased fishing efforts and aquaculture developments focused on sustainability to meet consumer expectations.
In contrast, Bay Scallops (Argopecten irradians) are smaller, generally measuring around two to four inches, and are known for their tender, delicate flavor. They are predominantly harvested from the shallow waters of bays along the Atlantic coast and are often used in soups, salads, and pasta dishes. Their smaller size and softer texture make them popular among home cooks and culinary enthusiasts looking to incorporate seafood into everyday meals. The preference for either type of scallop often depends on factors such as taste preference, preparation method, and price, contributing to distinct market dynamics. As the frozen scallop market continues to grow, understanding these sub-segments allows stakeholders to tailor their product offerings and marketing strategies effectively, catering to varying consumer tastes and culinary applications.

Frozen Scallop Market, By Form of Product

• Whole Scallops
• Scallop Meat
• Processed Scallops

The Frozen Scallop Market is characterized by a diverse array of products that cater to various consumer preferences and culinary applications, primarily categorized by the form of the product. The segment comprises three primary sub-segments: Whole Scallops, Scallop Meat, and Processed Scallops. Whole Scallops are offered in their intact form, appealing to chefs and home cooks looking for premium quality and presentation in dishes where the visual aspect is paramount, such as in gourmet seafood platters. This sub-segment often commands higher prices due to the quality and sustainability aspects associated with whole seafood products. Scallop Meat, on the other hand, refers to the edible adductor muscle of the scallop, typically sold shucked from the shell.

This sub-segment is particularly favored for its versatility, as it can be easily incorporated into various recipes including pastas, stir-fries, and seafood stews, making it a staple in both retail and foodservice channels. Lastly, Processed Scallops include products that have undergone additional processing such as precooking, breading, or marination, aiming to enhance convenience for consumers while ensuring consistent flavor profiles. This sub-segment caters to busy households and restaurants seeking quick-prep options. Together, these sub-segments represent a dynamic landscape within the Frozen Scallop Market, each addressing specific market needs and opportunities for innovation, sustainability, and culinary creativity, while also reflecting consumer trends toward premium and convenient seafood options.

Frozen Scallop Market, By End User

• Households
• Food Service

The Frozen Scallop Market can be categorized into distinct segments based on the end users, primarily focusing on households and food service establishments. Households represent a significant sub-segment, as the rising trend of cooking at home, coupled with a growing emphasis on healthy eating, has prompted more consumers to incorporate frozen scallops into their weekly meals. The convenience factor, along with the ability to store these seafood products for extended periods without compromising quality, makes frozen scallops an attractive option for home cooks. Moreover, the versatility of scallops in various cuisines, from sautés to pasta dishes and casseroles, appeals to a wide demographic, enhancing their popularity in domestic cooking.

On the other hand, the food service sub-segment encompasses restaurants, hotels, catering services, and other commercial establishments that serve seafood as part of their menu offerings. The food service sector values the availability of high-quality frozen scallops due to the consistency and reliability they provide for large-scale cooking. The demand within this sub-segment is driven by the increasing trend of seafood consumption in dining establishments, particularly as consumers seek out premium dining experiences. Additionally, frozen scallops offer cost-effectiveness and waste reduction for kitchens, enabling chefs to maintain high standards of food quality while managing inventory efficiently. Overall, both the household and food service segments play crucial roles in shaping the dynamics of the frozen scallop market, catering to evolving consumer preferences and market trends within the seafood industry.

Frozen Scallop Market, By Geography

• North America
• Europe
• Asia-Pacific
• Middle East and Africa
• Latin America

The Frozen Scallop Market is a significant segment within the broader seafood industry, characterized by the commercial production, distribution, and consumption of frozen scallops. This market can be segmented geographically to understand regional demand, consumption patterns, and market dynamics. The primary market segment is divided into five major sub-segments: North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America. In North America, the frozen scallop market is primarily driven by increasing seafood consumption, a robust culinary market, and a growing trend toward healthy eating. The United States and Canada are key players in this region, where scallops are popular in both restaurants and households. Europe is characterized by a strong affinity for seafood, with substantial demand coming from countries like the UK, France, and Spain, where frozen scallops feature prominently in gourmet cuisines.

Asia-Pacific is emerging rapidly, particularly in countries such as Japan and China, where there is a rising middle class with heightened interest in seafood as a protein source, coupled with an increase in imported frozen scallops. The Middle East and Africa are relatively nascent markets for frozen scallops; however, growing urbanization and a diversifying culinary landscape are likely to stimulate demand. Finally, Latin America presents opportunities as regional fisheries expand and the international trade of frozen seafood grows. Understanding these sub-segments helps stakeholders in the frozen scallop market to tailor their strategies to specific regional preferences and market conditions.

Key Players

The major players in the Frozen Scallop Market are:

• Ocean Spray Cranberries Inc
• High Liner Foods
• Maruha Nichiro Corporation
• Nippon Suisan Kaisha Ltd
• Dongwon Industries
• Thai Union Group PCL
• Lee Young Fish
•  Santa Cruz Seafood
• Trident Seafoods Corporation
• American Seafoods

Report Scope

Research Methodology of Verified Market Research:

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our Sales Team at Verified Market Research.

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support

Customization of the Report

• In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.