The forecast for the import of fish fillets and other fish meat to South Korea indicates a steady upward trend from 2024 to 2028, starting at 732.46 million USD in 2024 and reaching 827.13 million USD by 2028. This represents a consistent year-on-year increase, with the value growing approximately by 3.30% annually.
In 2023, the import value stood at 710.00 million USD, marking a significant foundation for the subsequent forecasted growth. Based on these data, the compounded annual growth rate (CAGR) over the last five years is forecasted to be around 3.90%, signifying a stable and progressive increase in imports.
Future trends to watch for include potential impacts from changes in global fish supply chains, South Korea's bilateral trade agreements, and domestic consumer demand shifts towards healthier diets and premium seafood products. Additionally, monitoring advancements in aquaculture technologies and sustainable fishing practices would be essential, as these factors could influence import patterns and volumes significantly.
