From 2014 to 2023, the pelagic fish market size volume in South Korea exhibited fluctuating trends, with a notable dip in 2020 followed by recovery in subsequent years. The market volume in 2023 stood at 756.74 thousand metric tons, showing a minimal year-on-year growth of 0.2%. Over the last two years, there was an average annual increase of 0.09%, while the five-year CAGR was 0.13%, reflecting a modest long-term growth.
Looking forward, the pelagic fish market is anticipated to grow steadily. Projections indicate an increase to 762.55 thousand metric tons by 2028, with a forecasted five-year CAGR of 0.18%, translating to an overall growth rate of 0.9% over the period.
Future trends to watch for include:
- Impact of climate change on fish populations and supply chains
- Advancements in sustainable fishing practices
- Shifts in consumer demand due to health and environmental awareness
- Regulatory changes and their implications on the market
