The latest research study “South Korea Aquaculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the South Korea aquaculture market is expected to exhibit a CAGR of 6.20% during 2022-2027.
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Aquaculture involves cultivating numerous aquatic organisms, including fish, shellfish, algae, and others. It includes several intensive and semi-intensive farms with professionalization and modernization techniques to improve overall productivity sustainably. It plays an essential role in fulfilling the global food requirement as it offers an effective solution to meet the growing demand for animal protein. It comprises various freshwater and marine activities, such as regular feeding, stocking, and protecting aquatic organisms from predators. It ensures optimum utilization of agricultural and natural resources while reducing waste generation. Since aquaculture provides a safe and natural breeding environment for the aquatic population, it is gaining immense traction in South Korea.
COVID-19Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
South Korea Aquaculture Market Trends and Drivers:
One of the primary factors driving the market is the escalating demand for frozen and ready-to-eat (RTE) food, such as mackerels, salmon, sailfin sandfish, squid and aquaculture products. Besides this, the rising seafood consumption is also strengthening the market growth.
Additionally, the rising demand for organic product variants and the increasing disposable income of the masses is propelling the market growth. Furthermore, the government of South Korea has formed a long-term aquaculture development program to promote aquaculture activities, which is catalyzing the market growth.
Furthermore, the rising focus on sustainable development and the rapid growth of the retail distribution channels are also creating a positive market outlook.
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South Korea Aquaculture Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
The report has segmented the market on the basis of fish type, environment and distribution channel.
Breakup by Fish Type:
- Freshwater Fish
Breakup by Environment:
- Fresh Water
- Marine Water
- Brackish Water
Market Breakup by Distribution Channel:
- Traditional Retail
- Supermarkets and Hypermarkets
- Specialized Retailers
- Online Stores
Breakup by Region:
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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