South Korea Tuna Fish Market to Grow at a CAGR of 2.7% During 2024-2032, Aided by the Increased Sea food Consumption and Growing Demand for Canned Tuna

The expansion of the aquaculture sector and the increasing global food demands are the major factors supporting the South Korea tuna fish market. According to the Korean Statistical Information Survey (KOSIS), the total tuna fish culture area accounts for 8,831 square meter in South Korea. The tuna fish culture in South Korea is majorly done through sea cage culture in Chungcheongnam-do province. Further, new devlpopments like, The Western and Central Pacific Fisheries Commission granted Korea a quota of 883 tons of bluefin tuna in the region for 2024, up 135 tons from the previous ceiling.

The tuna fish market in South Korea is fueled by the rising emphasis on healthy dietary choices and sustainable fishing practices. A  South Korea-based sea food company Dongwon Industries' achievement of the Marine Stewardship Council's (MSC) international standard underscores the region's commitment to harvesting yellowfin and skipjack tuna sustainably, maintaining the quality of sea food products.

Further, growing health consciousness among consumers, is expected to drive the market expansion. South Korean consumers prioritize freshness, flavour, price, and food safety, favouring seafood as a healthier alternative to red meat. Tuna is witnessing a surge in demand, driven by the increasing adoption of diverse cultural tastes and dietary advantages. Tuna is known for it’s nutritional richness and health benefits like, high selenium, Vitamin B3, Vitamin B12, Vitamin B6, protein, phosphorus, Vitamin D, Omega-3 fatty acids, and potassium. Moreover, changing lifestyles and busy schedules are aiding the demand for canned tuna products in the country. In addition, canned tuna  has low mercury exposure, as it undergoes cooking prior to canning, ensuring both convenience and nutrition. Its long shelf life caters to the needs of modern comnsumers and their fast-paced lifestyles, while also offering economic advantages. Advances in seafood quality and processing technologies supports the market.

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Market Breakup by Species and Type:

• The market is segmented based on species into yellowfin tuna, skipjack tuna, and bigeye tuna, among others. 

• Based on type, the market can be divided into fresh, canned, and frozen, among others.

Key Findings of the Report:

• The increasing consumption of sea food as a safe and convenient option and the favourable government initiatives to suppprt the tuna aquaculture sector are supporting the market expansion.

• The increasing health concerns and the growing focus on sustainable fish farming are driving the demand  for sustainably raised tuna fish. 

• Frozen options are cost-effective, convenient, and time-saving, catering particularly to busy professionals, especially women.

• The changing lifestyle of people contributes to the demand for ready-to-eat food products, prompting manufacturers to launch innovative canned tuna products.

Key Offerings of the Report:

• The EMR report gives an overview of the South Korea tuna fish market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the species and type of tuna fish.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the South Korea tuna fish market are Dongwon Group, SILLA CO., LTD, OTTOGI CORPORATION., Ltd, Sajo Group, and ITOCHU Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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