Republic of Korea: Market for Fresh Or Chilled Salmonoids Fillets 2024

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

The South Korean market for fresh or chilled salmonoids fillets fell slightly to $X in 2022, reducing by X% against the previous year. Overall, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Fresh or chilled salmonoids fillets consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Fresh Or Chilled Salmonoids Fillets in Republic of Korea

In value terms, fresh or chilled salmonoids fillets production fell to $X in 2022 estimated in export price. Over the period under review, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Fresh Or Chilled Salmonoids Fillets

Exports from Republic of Korea

In 2022, overseas shipments of fresh or chilled salmonoids fillets decreased by X% to X kg for the first time since 2018, thus ending a three-year declining trend. Overall, exports recorded a abrupt contraction. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, fresh or chilled salmonoids fillets exports reduced rapidly to $X in 2022. In general, exports showed a sharp decline. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Mongolia (X kg), Northern Mariana Islands (X kg) and the United States (X kg) were the main destinations of fresh or chilled salmonoids fillets exports from South Korea, with a combined X% share of total exports. Moreover, fresh or chilled salmonoids fillets exports in Mongolia exceeded the figures recorded by the second-largest exporter, Northern Mariana Islands, twofold.

From 2012 to 2022, the biggest increases were recorded for Mongolia (with a CAGR of X%), 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 X% of total exports.

Among the main countries of destination, Mongolia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average export price for fresh or chilled salmonoids fillets stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price showed a abrupt decrease. The growth pace was the most rapid in 2016 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Japan ($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 (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Fresh Or Chilled Salmonoids Fillets

Imports into Republic of Korea

In 2022, approx. X kg of fresh or chilled salmonoids fillets were imported into South Korea; approximately reflecting 2021 figures. In general, imports saw a precipitous contraction. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, fresh or chilled salmonoids fillets imports stood at $X in 2022. Overall, imports faced a dramatic shrinkage. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 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 X%).

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

From 2012 to 2022, the average annual growth rate 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, approximately equating the previous year. Overall, the import price posted a buoyant expansion. The pace of growth appeared the most rapid in 2019 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Japan stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :