The import of fresh or chilled scallops other than live to the Philippines is projected to rise steadily from 2024 to 2028, starting at $1.3856 million in 2024 and reaching $1.6157 million by 2028. The year-on-year percentage growth indicates a consistent upward trend, with variations showing a healthy increase in demand. Based on the actual import value of 2023, the forecasted figures demonstrate a robust market growth trajectory.
Key observations for the future trends:
- Steady annual increase in import values
- Increasing demand for fresh or chilled scallops in the market
- Potential for growth in related sectors such as seafood distribution and retail
- Market adaptability to changing consumer preferences and economic conditions
Future trends to watch for include potential shifts in consumer preferences toward sustainability and local sourcing, which may impact import volumes. Additionally, macroeconomic factors such as trade policies and currency fluctuations could influence market dynamics.
