The import of frozen fish to South Korea is projected to grow steadily from $1.5844 billion in 2024 to $1.6917 billion by 2028. In 2023, the value stood at $1.558 billion, indicating a consistent trend of incremental year-on-year growth. The year-on-year variation percentages for the years are as follows: 2024 (1.7%), 2025 (1.75%), 2026 (1.68%), 2027 (1.62%), and 2028 (1.56%). The Compound Annual Growth Rate (CAGR) over the five-year period is approximately 1.66%.
Future trends to watch for:
- Potential effects of climate change on fish stocks and supply chain.- Trade agreements impacting tariffs and import policies.- Increased consumer demand for sustainable and certified seafood.- Technological advancements in cold storage and logistics.- Fluctuations in exchange rates affecting import costs.
