Report Update Nov 1, 2024

Republic of Korea - Fresh or Chilled Fish Fillets - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in Republic of Korea

In 2021, after two years of decline, there was significant growth in the South Korean fresh fish fillet market, when its value increased by 24% to $X. In general, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -17.4% against 2016 indices. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Fresh Fish Fillet Production in Republic of Korea

In value terms, fresh fish fillet production skyrocketed to $X in 2021 estimated in export price. Overall, the total production indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -28.8% against 2016 indices. The pace of growth was the most pronounced in 2013 with an increase of 35%. Fresh fish fillet production peaked at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Fresh Fish Fillet Exports

Exports from Republic of Korea

In 2021, shipments abroad of fresh or chilled fish fillets decreased by -77.3% to X tons, falling for the fifth year in a row after two years of growth. In general, exports faced a significant decrease. The most prominent rate of growth was recorded in 2016 when exports increased by 19% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, fresh fish fillet exports reduced sharply to $X in 2021. Overall, exports faced a precipitous decline. The growth pace was the most rapid in 2016 when exports increased by 34%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for fresh fish fillet exports from South Korea, with a approx. 95% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan stood at -20.7%.

In value terms, Japan ($X) also remains the key foreign market for fresh or chilled fish fillets exports from South Korea.

From 2012 to 2021, the average annual growth rate of value to Japan stood at -23.3%.

Export Prices by Country

In 2021, the average fresh fish fillet export price amounted to $X per ton, which is down by -21.3% against the previous year. Over the period under review, the export price recorded a perceptible decline. The most prominent rate of growth was recorded in 2016 when the average export price increased by 12% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Japan.

From 2012 to 2021, the rate of growth in terms of prices for Japan amounted to -3.2% per year.

Fresh Fish Fillet Imports

Imports into Republic of Korea

Fresh fish fillet imports into South Korea skyrocketed to X tons in 2021, rising by 40% against the previous year's figure. Overall, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2016 with an increase of 43%. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, fresh fish fillet imports soared to $X in 2021. Over the period under review, imports saw a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Norway (X tons) was the main supplier of fresh fish fillet to South Korea, with a approx. 92% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Norway stood at +21.8%.

In value terms, Norway ($X) constituted the largest supplier of fresh or chilled fish fillets to South Korea.

From 2012 to 2021, the average annual rate of growth in terms of value from Norway totaled +26.4%.

Import Prices by Country

The average fresh fish fillet import price stood at $X per ton in 2021, increasing by 9.9% against the previous year. In general, import price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fresh fish fillet import price decreased by -1.3% against 2019 indices. The pace of growth appeared the most rapid in 2017 an increase of 34%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Norway.

From 2012 to 2021, the rate of growth in terms of prices for Norway amounted to +3.8% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for fresh or chilled fish fillets in the world?

China constituted the country with the largest volume of fresh fish fillet consumption, comprising approx. 18% of total volume. Moreover, fresh fish fillet consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. India ranked third in terms of total consumption with a 7.1% share.

What are the largest producers of fresh or chilled fish fillets in the world?

The country with the largest volume of fresh fish fillet production was China, accounting for 18% of total volume. Moreover, fresh fish fillet production in China exceeded the figures recorded by the second-largest producer, India, twofold. The third position in this ranking was occupied by Chile, with a 5.8% share.

What are the leading suppliers of fresh or chilled fish fillets to Republic of Korea?

In value terms, Norway constituted the largest supplier of fresh fish fillet to South Korea.

What are the leading importers of fresh or chilled fish fillets from Republic of Korea?

In value terms, Japan remains the key foreign market for fresh fish fillet exports from South Korea.

What is the average export price for fresh or chilled fish fillets in Republic of Korea?

In 2020, the average fresh fish fillet export price amounted to $12,182 per ton, dropping by -5.8% against the previous year.

What is the average import price for fresh or chilled fish fillets in Republic of Korea?

In 2020, the average fresh fish fillet import price amounted to $14,060 per ton, surging by 9.3% against the previous year.

This report provides an in-depth analysis of the fresh fish fillet market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10201100 - Fresh or chilled fish fillets and other fish meat without bones

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023