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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
South Korea Tuna Fish Market Trends
Due to the growing demand for tuna fish in South Korea, there is a lot of scope for expansion in the tuna farming industry. Also, the marine and fishing industries, which have significant growth potential, benefit greatly from cooperation with the financial sector. The first "tuna fund” in South Korea, worth USD 4.4 million, was established by BNK Financial Group and Nampyeong Tuna Farming Association Corporation to support the tuna aquaculture sector in the country. As fish demand in the nation is typically higher than meat consumption, the ministry may introduce additional funds to invest in fish farms supported by smart technology in the open ocean.
Moreover, the tuna fish market in South Korea is steadily growing due to the increasing preference for lean meat among health-conscious consumers. Tuna’s omega-3 fatty acids activate the leptin hormone, which regulates the body's food intake and aids those trying to lose weight. Vitamin C, zinc, and manganese, which are all regarded to be powerful natural antioxidants and are beneficial for the skin and immunity are all present in moderate amounts in tuna.
In response to shifting nutritional habits, consumer demand encouraged the adoption of complex tuna processing procedures. Canned tuna is a popular low-cost protein that is easy to keep and does not need to be refrigerated. Demand for processed and ready-to-cook foods increased significantly with the ageing and working population.
South Korea Tuna Fish Market Report Snapshots
South Korea Tuna Fish Market Size
South Korea Tuna Fish Market Growth
South Korea Tuna Fish Market Trends
South Korea Tuna Fish Market Share
South Korea Tuna Fish Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the South Korean tuna fish market attained a volume of nearly 74.12 KMT.
The market is projected to grow at a CAGR of 2.7% between 2024 and 2032.
Rising disposable incomes, celebrity influence, health awareness among customers, expansion of tuna aquaculture farming, various benefits of tuna, and improved quality and fishing practises are the major drivers of the market.
Key trends aiding market expansion include the initiatives to boost the aquaculture, sustainable fisheries management, community-based fisheries management regulations, and increasing demand for ready-to-cook and ready-to-eat foods.
Based on type, the market is divided into fresh, canned, and frozen.
The different species of tuna fish in the market are skipjack, yellowfin, and bigeye, among others.
Key players in the market are Dongwon Group, SILLA CO., LTD, OTTOGI CORPORATION., Ltd, ITOCHU Corporation, and Sajo Group, among others.
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Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124