Groundfish Market size is estimated to be USD 3.12 Billion in 2024 and is expected to reach USD 4.67 Billion by 2033 at a CAGR of 4.8% from 2026 to 2033.
The South Korea groundfish market is experiencing significant growth, driven by an increasing demand for seafood both domestically and internationally. Groundfish, such as cod, haddock, and flounder, plays a crucial role in the South Korean fishing industry, making up a large portion of the country's seafood consumption. This market has become a vital part of the global seafood supply chain, with both large-scale commercial fishing and aquaculture operations involved in meeting industry requirements.
Industries in South Korea, especially those in the food production and export sectors, rely heavily on the availability and quality of groundfish. The processing industry, for example, requires consistent access to fresh and high-quality groundfish to produce a range of products, including fillets, frozen fish, and value-added items like fish cakes and soups. The market is also influenced by consumer preferences, with South Korean consumers increasingly seeking healthy, protein-rich foods. This shift has contributed to a rise in demand for groundfish as an affordable and nutritious option.
The groundfish market in South Korea faces several challenges, particularly in terms of sustainability and fishing quotas. Overfishing, environmental concerns, and changing climate conditions are putting pressure on fish stocks. As a result, industries in South Korea are adopting more sustainable practices, such as implementing stricter fishing regulations and investing in aquaculture to meet the growing demand. Furthermore, the industry must comply with international standards for food safety and sustainability, ensuring that the seafood products meet both local and global market expectations.
In terms of technology, industries are increasingly investing in advanced tools for processing and packaging groundfish to maintain freshness and quality. Additionally, logistics and supply chain improvements are essential for ensuring timely delivery of groundfish products to both domestic and international markets. This requires efficient cold storage and transportation solutions to maintain the integrity of the product throughout the distribution process.
The groundfish market in South Korea is poised for continued growth as the demand for seafood rises. As industries focus on sustainability, technological advancements, and global trade, the future of the market looks promising, providing both opportunities and challenges for players across the seafood supply chain.
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AS More Codfish
Mowi ASA
Trident Seafoods
Bluenose Seafood
High Liner Foods
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Groundfish Market
Fillets
Whole Fish
Steaks
Prepared/Ready-to-eat Products
Wild-caught
Aquaculture/Farmed
Foodservice (Restaurants, Cafés, Hotels)
Retail (Supermarkets, Grocery Stores)
Food Processors (Canned, Frozen, Packaged Products)
Direct Sales
Distributors
Online Platforms
Ages (Children, Adults, Seniors)
Lifestyles (Health-conscious Consumers, Convenience Seekers)
Income Levels (Budget-conscious, Premium)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Groundfish Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Groundfish Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Groundfish Market, By Type
6. South Korea Groundfish Market, By Application
7. South Korea Groundfish Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Groundfish Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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