In 2023, the import of prepared or preserved crustaceans and molluscs to South Korea stood at USD 1813.2 million, reflecting a year-on-year increase of 5.44%. This follows a 11.45% rise in 2022 and a substantial 21.76% increase in 2021. Over the last five years, the compound annual growth rate (CAGR) has averaged 4.55%. Notably, the year 2017 experienced a dramatic surge of 182.71%, reaching USD 1185.7 million from USD 419.41 million in 2016.
Looking to the future, the forecast shows a continued upward trend with a forecasted 5-year CAGR of 3.76%, projecting the import value to reach USD 2297.3 million by 2028, representing a 20.26% overall growth from 2023 levels.
Future trends to watch for include the potential impacts of global seafood supply chain disruptions, changes in consumer preferences towards sustainable seafood, and international trade policies, which may affect the import dynamics over the forecast period.
