Republic of Korea - Frozen Whole Fish - Market Analysis, Forecast, Size, Trends and Insights
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View PricingFrozen Whole Fish Price in South Korea - 2022
Contents:
- Frozen Whole Fish Price in South Korea (CIF) - 2022
- Frozen Whole Fish Price in South Korea (FOB) - 2022
- Frozen Whole Fish Imports in South Korea
- Frozen Whole Fish Exports in South Korea
Frozen Whole Fish Price in South Korea (CIF) - 2022
In December 2022, the average frozen whole fish import price amounted to $1,959 per ton, dropping by -3% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.1%. The most prominent rate of growth was recorded in August 2022 when the average import price increased by 15% month-to-month. As a result, import price reached the peak level of $2,119 per ton. From September 2022 to December 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($3,718 per ton), while the price for Mexico ($428 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Frozen Whole Fish Price in South Korea (FOB) - 2022
In December 2022, the average frozen whole fish export price amounted to $1,676 per ton, with a decrease of -15.6% against the previous month. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in April 2022 an increase of 14% against the previous month. Over the period under review, the average export prices attained the maximum at $2,040 per ton in September 2022; however, from October 2022 to December 2022, the export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Vietnam ($2,298 per ton), while the average price for exports to Spain ($625 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+3.1%), while the prices for the other major destinations experienced mixed trend patterns.
Frozen Whole Fish Imports in South Korea
In 2022, frozen whole fish imports into South Korea fell to 725K tons, with a decrease of -7.5% compared with the year before. The total import volume increased at an average annual rate of +2.7% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 18% against the previous year. As a result, imports attained the peak of 784K tons, and then declined in the following year.
In value terms, frozen whole fish imports fell to $1.3B in 2022. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 16%. As a result, imports reached the peak of $1.4B, and then fell in the following year.
Import of Frozen Whole Fish in South Korea (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Myanmar | 1.1 | 0.7 | 0.4 | 1,283 | 952.6% |
Russia | 368 | 390 | 578 | N/A | 25.3% |
Norway | 85.7 | 82.8 | 107 | N/A | 11.7% |
China | 292 | 235 | 242 | N/A | -9.0% |
United States | 100 | 92.6 | 77.0 | N/A | -12.3% |
Mexico | 19.6 | 13.7 | 14.9 | N/A | -12.8% |
Taiwan (Chinese) | 74.0 | 51.9 | 93.1 | N/A | 12.2% |
Others | 354 | 322 | 264 | N/A | -13.6% |
Total | 1,294 | 1,189 | 1,377 | 1,283 | -0.3% |
Top Suppliers of Frozen Whole Fish to South Korea in 2022:
- Myanmar (725.0K tons)
Frozen Whole Fish Exports in South Korea
Frozen whole fish exports from South Korea reduced notably to 298K tons in 2022, with a decrease of -20.9% compared with the year before. Overall, total exports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +5.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +27.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 62% against the previous year. As a result, the exports attained the peak of 377K tons, and then fell sharply in the following year.
In value terms, frozen whole fish exports shrank rapidly to $593M in 2022. Over the period under review, total exports indicated a tangible expansion from 2019 to 2022: its value increased at an average annual rate of +4.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +25.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 52% against the previous year. As a result, the exports attained the peak of $716M, and then dropped notably in the following year.
Export of Frozen Whole Fish in South Korea (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Japan | 77.8 | 77.0 | 80.8 | 160 | 27.2% |
United States | 50.1 | 40.3 | 48.0 | 156 | 46.0% |
China | 89.1 | 89.9 | 70.9 | 134 | 14.6% |
Philippines | 11.7 | 13.6 | 11.3 | 36.3 | 45.9% |
Italy | 4.6 | 5.4 | 9.2 | 15.6 | 50.2% |
Spain | 10.2 | 27.4 | 14.2 | 13.8 | 10.6% |
Rwanda | 0.1 | 3.2 | 4.4 | 9.5 | 356.3% |
Thailand | 123 | 83.8 | 93.9 | N/A | -12.6% |
Nigeria | 17.7 | 10.1 | 4.9 | N/A | -47.4% |
Vietnam | 64.5 | 46.0 | 82.8 | N/A | 13.3% |
Others | 65.9 | 74.6 | 295 | 67.7 | 0.9% |
Total | 514 | 471 | 716 | 593 | 4.9% |
Top Export Markets for Frozen Whole Fish from South Korea in 2022:
- China (102.4K tons)
- Japan (67.5K tons)
- Philippines (38.6K tons)
- Rwanda (16.0K tons)
- United States (15.8K tons)
- Spain (8.4K tons)
- Italy (8.3K tons)
This report provides an in-depth analysis of the frozen whole fish 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 10201330 - Frozen whole salt water fish
- Prodcom 10201360 - Frozen whole fresh water fish
- Prodcom 10201600 - Frozen fish livers and roes
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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