The pelagic fish production in South Korea demonstrated a consistent decline from 2014 to 2023, starting at 821.47 thousand metric tons and ending at 732.42 thousand metric tons in 2023. After experiencing peaks and valleys, the overall trend shows a gradual decline with a compound annual growth rate (CAGR) of -0.66% over the last five years. The significant drop in 2020 of over 17% indicates a pivotal disruption, with slight recoveries in subsequent years.
Year-on-year variations reveal a mixed pattern, with notable increases in 2015 and 2021, but overall negative growth rates predominate. The forecast suggests a continued decline in production volume, projecting a 0.6% annual reduction over the next five years, culminating in a 2.94% decrease by 2028.
Future Trends to Watch:
- Impact of climate change on fish populations.
- Advancements in sustainable fishing practices.
- Market demand shifts influencing production levels.
- Regulatory changes in the fishing industry.
