Forecast: Import of Fresh or Chilled Lobsters to South Korea

The import value of fresh or chilled lobsters to South Korea has shown significant growth over the past decade. Starting from 47.247 million USD in 2013, it increased to 108.49 million USD in 2023. Particularly notable is the rise between 2013 and 2014 (43.9% increase) and 2020 to 2021 (10.3% increase). As of 2024, with a value of 113.3 million USD, the 5-year CAGR stands at 4.87%. Forecasting till 2028 indicates a continued growth trend with a forecasted 5-year CAGR of 3%.

Future trends to watch for include:

  • Potential impacts of global economic conditions on import volumes.
  • Shifts in consumer preferences and dietary trends in South Korea.
  • Regulatory changes affecting seafood imports.
  • Logistical and supply chain advancements improving import efficiency.

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