South Korea Seafood Market Size, Share, and COVID-19 Impact Analysis, By Type (Fish, Shrimps, and Others), By Form (Fresh/Chilled, Frozen/Canned, Processed), and South Korea Seafood Market Insights, Industry Trend, Forecasts to 2035.

South Korea Seafood Market Insights Forecasts to 2035

• The South Korea Seafood Market Size was estimated at USD 13.1 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 2.92% from 2025 to 2035
• The South Korea Seafood Market Size is Expected to Reach USD 17.98 Billion by 2035

According to a research report published by Spherical Insights & Consulting, the South Korea Seafood Market Size is anticipated to reach USD 17.98 Million by 2035, growing at a CAGR of 2.92% from 2025 to 2035. The market is being driven by the growing advancements in processing methods that have enhanced the shelf life, safety, and quality of seafood products, increasing their appeal to consumers.

Market Overview

The South Korean seafood market encompasses fish, shellfish, and seaweed are examples of marine products that are produced, processed, distributed, and consumed. South Korea is one of the world's top consumers of fish per capita due to its rich maritime heritage and strong cultural affinity for seafood. Additionally, The South Korean seafood market is expanding significantly as a consequence of a number of important factors. First off, demand has been driven by growing consumer awareness of seafood's health benefits. Consumption of seafood has also increased due to its growing appeal in many culinary traditions. Furthermore, improvements in logistics and transportation have made it easier to distribute seafood products regionally, which has helped the market grow.

Report Coverage

This research report categorizes the market for the South Korean seafood market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korean seafood market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korean seafood market.

Driving Factors

Demand for seafood sourced ethically is being driven by the growing trend of sustainable and responsible fishing methods, which has struck a chord with consumers who care about the environment. The aquaculture industry has been crucial to the economy by providing a steady and varied supply of seafood products. The shelf life of products has also been increased by technological advancements in seafood processing and packaging, guaranteeing their availability in a variety of markets. In conclusion, a number of factors, such as sustainability initiatives, culinary diversity, health consciousness, and technological advancements, work together to drive the expansion of the South Korean seafood market.

Restraining Factors

Overfishing is still a serious problem that is made worse by illicit fishing, especially by Chinese ships that use South Korean waters. Fish stocks are being depleted and local fisheries are experiencing financial strain as a result of enforcement issues that continue despite agreements meant to stop these practices.

Market Segmentation

The South Korea seafood market share is classified into type and form.

• The fish segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea seafood market is segmented by type into fish, shrimps, and others. Among these, the fish segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. The nutritional advantages of fish, especially its high omega-3 content, which promotes heart health and cognitive function, are becoming more widely acknowledged by consumers.

• The frozen/canned segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea seafood market is segmented by form into fresh/chilled, frozen/canned, and processed. Among these, the frozen/canned segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. The Strong consumer demand for convenience, longer shelf life, and the accessibility of a large variety of seafood products in canned and frozen forms are the main drivers of this. Technological developments in processing and packaging have further expanded this market, guaranteed freshness and quality while satisfying the demands of time-pressed customers.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea seafood market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Atlantic Capes Fisheries, Inc.
• Dongwon Industries
• Hansung Enterprise
• Lotte Foods
• Korea Fisheries Trade Association
• Mokpo Fisheries
• Others

Recent Developments:

• In September 2023, Dongwon Industries considered acquiring Korea's top container line, HMM. The company planned to finance the acquisition with its own money, which it might have done by selling affiliate stakes or listing Starkist Co., its U.S.-based affiliate that sold canned tuna.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea seafood market based on the below-mentioned segments:

South Korea Seafood Market, By Type

• Fish
• Shrimps
• Others

South Korea Seafood Market, By Form

• Fresh/Chilled
• Frozen/Canned
• Processed