South Korea Seafood Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 4.30% (2024-2032)
The rising demand for healthy and nutritious food items among health-conscious individuals is bolstering the market growth. According to the latest report by IMARC Group, South Korea seafood market size is projected to exhibit a growth rate (CAGR) of 4.30% during 2024-2032.
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South Korea Seafood Industry Trends and Drivers:
Due to the strong seafood consumption culture and increasing demand for high-quality and diverse seafood products, the South Korea seafood market is also growing. Seafood is an important part of South Korea cuisine and is used in traditional dishes like sushi, sashimi, and stews. These have been supported by growing health concerns of the consumers as they tend to include seafood in their diet for reasons such as; omega-3 fatty acids and essential proteins. This has also been fueled by the increasing demand for convenience foods that include ready-to-cook and processed seafood products to meet the schedules of urban consumers. This is another major factor that has contributed to the growth of the market through export expansion as Japan and China have a strong demand for premium South Korea seafood. In the meantime, sustainability and traceability in sourcing practices are becoming more important. This has led to consumers being more aware of the environmental effects of fishing and the safety of the seafood consumed, resulting in a positive shift toward eco-certified and sustainably sourced products.
The adoption of advanced aquaculture technologies is also shaping the market, enabling controlled seafood production to meet both domestic and international demand. Innovations in cold chain logistics and packaging are further improving seafood freshness and shelf life, ensuring product quality throughout the supply chain. E-commerce platforms are playing a significant role in making a wide variety of seafood more accessible to consumers, offering options ranging from live and fresh seafood to frozen and processed products. As consumer preferences continue to evolve, with sustainability and convenience at the forefront, the South Korean seafood market is expected to experience sustained growth. This will allow it to cater to both traditional culinary needs and modern dietary trends while maintaining its position as a key player in the global seafood industry.
Our comprehensive South Korea seafood market outlook reflects both short-term tactical and long-term strategic planning. This analysis is essential for stakeholders aiming to navigate the complexities of the market and capitalize on emerging opportunities.
South Korea Seafood Industry Segmentation:
The report has segmented the market into the following categories:
Type Insights:
Fish
Shrimps
Others
Form Insights:
Fresh/Chilled
Frozen/Canned
Processed
Distribution Channel Insights:
Off Trade
On Trade
Regional Insights:
Seoul Capital Area
Yeongnam (Southeastern Region)
Honam (Southwestern Region)
Hoseo (Central Region)
Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Billion Food Co. Ltd.
E & K Co. Ltd.
Woowon Holdings Co. Ltd.
Yurim Fishery and Distribution Co. Ltd.
Key highlights of the Report:
Market Performance (2018-2023)
Market Outlook (2024-2032)
COVID-19 Impact on the Market
Porter’s Five Forces Analysis
Strategic Recommendations
Historical, Current, and Future Market Trends
Market Drivers and Success Factors
SWOT Analysis
Structure of the Market
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, and benchmarking analyses, pricing and cost research, and procurement research.
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