The import of frozen fish meat and mince to South Korea shows a fluctuating yet generally upward trend over the past decade, standing at 155.31 million kilograms in 2023. The year-on-year variations indicate both increases and slight declines, with growth rates reaching as high as 8.98% in 2018 and as low as -2.51% in 2015. In recent years, the growth rate has been relatively stable, with a slight downtrend from 2.07% in 2020 to 1.84% in 2023. A Compound Annual Growth Rate (CAGR) of 1.56% from 2018 to 2023 reflects a moderate increase in volume over the last five years.
Looking ahead, forecasts suggest a continued gradual increase, reaching 168.51 million kilograms by 2028. The forecasted 5-year CAGR of 1.29% indicates moderate yet steady growth, with an overall forecasted growth rate of 6.62% by 2028.
Future trends to watch for include variations in global fish supply, potential changes in consumer preferences, and the impact of trade policies on import volumes. Monitoring these factors will be crucial for accurately predicting future import trends.
