Dry-Packed Scallops Market - Size & Upcoming Industry Trends (2024-2032)

Dry-Packed Scallops Market Synopsis:

Dry-Packed Scallops Market Size Was Valued at USD 19.50 Billion in 2023, and is Projected to Reach USD 27.93 Billion by 2032, Growing at a CAGR of 4.59% From 2024-2032.

The Dry-Packed Scallops Market is therefore the market which encompasses all the business entities that are involved with the production, marketing and sale of processed scallops in the dry packed form. This methodology is specially developed in a process where the scallops are frozen without the input of any chemical additives or preservatives. Regarding dry-packed scallops, it is usually a higher quality, free from additives or undergoing extremely little process, which will make this product popular not only for chefs or restaurants, but also for end consumers. The market has involved various players in the value chain from the producers and processors, trader, and marketers who sell the dry-packed scallops both in the domestic and export markets.

The market for dry-packed scallops has been pegged to be growing steadily over the years, especially as more and more customers seek out better quality seafood products. Dry-packed scallops have the best tender muscles, natural taste, and are usually processed without the use of chemical or preservatives. This method of packing keeps the scallops in their best form, they are more attractive to high end customers, restaurants, gourmet chefs and consumers’ looking for the quality seafood products. As a result of increasing demand for healthy and natural food products, dry-packed scallops are in high demand in worldwide markets, especially among fastidious consumers who opt for minimally processed foods.

The market for dry packed scallop is also being changed with increasing consciousness towards getting access to sustainable seafood. Buyers are enjoying the products from companies who register to meetings of sourcing their products in line with saving the environment. This has meant more focus on the dry-packed scallop which can be sourced from the sustainable fishery and accredited by any recognized green group. Also, the seafood industry is experiencing technological enhancements of freezing and packaging procedures, which is driving the market for dry-packed scallop shelling and their quality during transportation and storage. Consequently, there is a growing market competition in terms of value-added dry-packed scallops production and processors introduction and innovation.

Dry-Packed Scallops Market Trend Analysis:

Rising Demand for Premium and Natural Seafood Products

• Another movement that is clearly observable in the market of dry-packed scallops relates to the shift of customer trends to premium, natural, and processed seafood products. As consumers worry over the incorporation of preservatives and chemicals or artificial additives in their foods, dry-packed scallops are considered a healthier product to the wet-packed ones or chemically treated seafood products. This aversion to processed foods is not out of place when consumers are in a constant search for the genuine ‘whole and real’ versions of food products. The low processed, natural and juicy scallops that are packed dried also interest consumers with healthy and good quality foods preference.
• It is more apparent in developed countries to which the sophisticated consumers are ready and able to spend their money on quality and environmentally friendly seafood products. The inclination towards health is, therefore, has also affected the growth of trades in the low-sodium and low-fat scallops, which are a part of the dry-packed scallop trade. Also, with the awareness of environmental consequences of consuming foods being on the rise, people are now looking for proactively sourced seafood hence considering dry-packed scallops for improved health and improved sources. This means that market trends for dry-packed scallops should remain on the upward swing as people give preference to these products.

Expanding Global Demand for Sustainable and Traceable Seafood

• One possible avenue for development in the consumption of dry-packed scallops is an ongoing trend for the growth of the share of environmentally friendly products in the world market. Consumers worldwide, as well as those in developing countries and developed countries, are increasingly seeking safer, higher-quality products and are paying a premium for sustainable seafood. Consumers are turning into socially responsible and this has made them have a higher concern with the social responsibilities of the food they consume for instance those from sustainable sources. This change in consumer behaviour has fostered the need of seafood that can be tracked and its documentation to help the consumers know that their purchase assists in right practices. This demand puts dry-packed scallops derived from sustainable sources in the current market on a better standing to generate more great results as the market gets more conscious of sustainability.
• In addition, there is an increase in green consumerism that is supported by regulation policies that divulge responsibility fishing practices and marine conservation. These regulatory measures which form part of sustainability certifications like the Marine Stewardship Council (MSC), offer a check point for the companies to undertake sustainability initiatives. Businesses can reap the benefits of sustainable sourcing through improving organisational image and positioning in the fast-growing ethical seafood segment through sustainable sourcing for certification instead of forming their own certification bodies. This trend does more than open up new outlets for companies’ products; it also helps to front the campaign for a responsible approach to seafood production, allowing them to become leaders in terms of quality and responsibility at the same time.

Dry-Packed Scallops Market Segment Analysis:

Dry-Packed Scallops Market is Segmented on the basis of type, application, packaging type, and region

By Type, whole dry-packed scallops’ segment is expected to dominate the market during the forecast period

• In the dry-packed scallops’ market, the product is typically segmented into three main types: Whole New Zealand dry-packed scallops, scallop and scallop roe pieces. Whole dry-packed scallops are recognised as the prime product in this category because they are usually obtained in their natural forms with consumers preferring them when they retain their full shapes and are intended for further use in gourmet and food processing operations. These whole scallops have the best of textures which makes them better to be eaten and at the same time nicer to be displayed in upmarket restaurants. These are often applied in offerings prepared with fresh scallops, where aesthetics and sculpted, whole appearance of scallop is crucial.
• The other segments within the dry-packed scallops include scallop pieces as well as scallop roe. Scallop portions, which can be part of a whole scallop, are applied in processed sea foods or in thermo-stable products. It is more economical to use than whole scallops as well as versatile fit for various dishes such as soups, stews and stir fry dishes. The organs of the scallop, that is, the scallop roe is less utilized but it has its markets especially in Asian countries where people can go to parked up to consume the organ. In the future it can be sold as an individual seafood product which will allow people to taste it or it can be added as an ingredient to any exclusive recipes. These three types are mutually complementary and satisfy the preferences of customers who choose high-quality products and those who are ready to purchase goods of a lower price range and with a wider range of applications.

By Application, foodservice segment expected to held the largest share

• The dry-packed scallops’ market is widely segmented by application, with three key sectors driving demand: which includes foodservice, retail and industrial. The major consumer of dry-packed scallop is food service industry inclusive of the restaurants aside hotels and catering services. Whole, dry-packed scallops are especially preferred by quality conscious outlets such as gourmet restaurants and other up-scale eating places. They are sold for use in specialty or gourmet meals where the scallops, in their natural state, may be required. Due to increasing demand of foodservice operations, especially profitably-graded and eco/traceable seafood products like dry-packed scallops has become part of the global seafood menu.
• In the supermarket, online shopping, seafood stores, dry packed scallops have gained consumers’ recognition for home cooking fresh seafood products. Consumer demand for these products is boosted by trends towards clean-label and minimal processing of food products in the retail trade. Also, through the internet trade, particularly via e-commerce, the market is also broadening through the sale of dry-packed scallops which are equally convenient for consumers expressing their desire to enjoy premium seafood products through home delivery. In the industrial segment, the dry-packed scallops will be applied in food processing and ready-to-eat meals industry where the scallops will be included in the frozen meal industry, seafood mixes, and some of the pre-packed processed foods. Dry-packed scallops apply themselves to value-bearing properties where first-class quality and long preservation are of essentials where large-scale production and food services industries come in handy.

Dry-Packed Scallops Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• By 2023, North America is set to lead the market for dry-packed scallops, especially with the United States and Canada. The North American market needs superior quality seafood products, primarily dry packed scallops, in both the retail and food service segments. There has been an increasing trend of consumer concern for clean-label, sustainable seafood that is friendly to the environment and consistent with the characteristics of naturally dried and premium scallop product in the dry packing method. Besides, improved cold chain systems and e-commerce have enabled the Marketing Company to expand the consumers’ base of dry-packed scallops across the continent.
• The seafood market on the U.S. territory is one of the largest in the world, society’s need for dry-packed scallops increases due to the increased consumption of seafood-based diets, responsible for their health and gourmet tendencies. Estimations show that North America occupies the market share ranging from 35-40% of the global dry-packed scallops’ consumption in 2023. It is also suggested that the region has developed an effective retail channel and that consumers in this area value quality seafood, especially when eating in fine dining establishments. Moreover, as the focus on the sustainability of sources to supply product increases along with the advancement in the certified sustainable seafood product, North America is expected to remain dominant in the dry-packed scallops’ market.

Active Key Players in the Dry-Packed Scallops Market:

• Acme Smoked Fish Corp (USA)
• Anderson Seafoods (USA)
• Beaver Street Fisheries (USA)
• Blue Harvest Fisheries (USA)
• Boston Lobster Company (USA)
• Cargill (USA)
• Clearwater Seafoods (Canada)
• Dongwon Enterprise (South Korea)
• East Coast Seafood (USA)
• Fortune Fish & Gourmet (USA)
• High Liner Foods (Canada)
• Maruha Nichiro Corporation (Japan)
• Mazzetta Company (USA)
• O’Hara Corporation (USA)
• Pacific Seafood Group (USA)
• Other Active Players