Republic of Korea: Market for Fresh Or Chilled Salmonoids Fillets 2025

Market Size for Fresh Or Chilled Salmonoids Fillets in Republic of Korea

The South Korean market for fresh or chilled salmonoids fillets shrank slightly to $X in 2022, remaining relatively unchanged against the previous year. In general, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +7.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by +0.5% against 2020 indices. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Production of Fresh Or Chilled Salmonoids Fillets in Republic of Korea

In value terms, fresh or chilled salmonoids fillets production dropped to $X in 2022 estimated in export price. Overall, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +8.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.7% against 2020 indices. The pace of growth was the most pronounced in 2015 with an increase of 47%. Fresh or chilled salmonoids fillets production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Fresh Or Chilled Salmonoids Fillets

Exports from Republic of Korea

In 2022, overseas shipments of fresh or chilled salmonoids fillets increased by 24% to X kg for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2015 with an increase of 113%. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, fresh or chilled salmonoids fillets exports surged to $X in 2022. In general, exports, however, recorded a slight slump. The pace of growth appeared the most rapid in 2016 with an increase of 81%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Mongolia (X kg), Northern Mariana Islands (X kg) and Guatemala (X kg) were the main destinations of fresh or chilled salmonoids fillets exports from South Korea, together comprising 86% of total exports.

From 2012 to 2022, the biggest increases were recorded for Mongolia (with a CAGR of +17.3%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for fresh or chilled salmonoids fillets exported from South Korea were Mongolia ($X), Malaysia ($X) and Northern Mariana Islands ($X), together comprising 90% of total exports.

Mongolia, with a CAGR of +31.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for fresh or chilled salmonoids fillets amounted to $X per ton, leveling off at the previous year. Over the period under review, the export price, however, posted resilient growth. The pace of growth was the most pronounced in 2014 when the average export price increased by 682%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (+63.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fresh Or Chilled Salmonoids Fillets

Imports into Republic of Korea

In 2022, purchases abroad of fresh or chilled salmonoids fillets decreased by -99.6% to X kg, falling for the fourth consecutive year after two years of growth. Over the period under review, imports saw a precipitous contraction. The growth pace was the most rapid in 2013 when imports increased by 574%. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, fresh or chilled salmonoids fillets imports shrank notably to $X in 2022. In general, imports continue to indicate a dramatic descent. The pace of growth was the most pronounced in 2013 with an increase of 209%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Austria (X kg) and Japan (X kg) were the main suppliers of fresh or chilled salmonoids fillets imports to South Korea.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of 0.0%).

In value terms, Austria ($X) constituted the largest supplier of fresh or chilled salmonoids fillets to South Korea, comprising 80% of total imports. The second position in the ranking was taken by Japan ($X), with a 20% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Austria was relatively modest.

Import Prices by Country

The average import price for fresh or chilled salmonoids fillets stood at $X per ton in 2022, increasing by 167% against the previous year. Overall, the import price showed a strong increase. The pace of growth was the most pronounced in 2016 when the average import price increased by 224% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Japan totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+147.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :