Key Market Indicators
Korean fish production is projected to reach approximately 2.85 million metric tons by 2028, up from around 2.55 million metric tons in 2023. This growth represents a compound annual growth rate (CAGR) of 1.8%. Since 1965, the country's fish supply has seen an average yearly increase of 2.3%. In 2023, South Korea ranked fifth globally in fish production. Bangladesh narrowly surpassed South Korea with an equivalent production of 2.55 million metric tons. Indonesia, India, and Bangladesh occupied the second, third, and fourth spots, respectively, in the global ranking. On the consumption front, Korean fish consumption is expected to reach about 763 thousand metric tons by 2028, up from roughly 757 thousand metric tons in 2023, growing at an average annual rate of 0.2%. Since 2019, the demand for fish in Korea has increased by an average of 0.1% each year.
