IMARC Group has recently released a new research study titled “South Korea Shrimp Market Size, Share, Trends and Forecast by Environment, Species, Shrimp Size, Distribution Channel, and Region, 2025-2033”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
South Korea Shrimp Market Overview
The South Korea shrimp market size of USD 1.37 Billion in 2024 and is forecasted to reach USD 2.03 Billion by 2033. The market is expected to grow at a CAGR of 4.03% during the forecast period 2025-2033. Growth is driven by rising demand for high-quality, locally produced seafood, strong government support, and advancements in sustainable aquaculture technologies. The industry increasingly adopts innovative farming methods to improve efficiency and meet sustainability goals.
Study Assumption Years
- Base Year: 2024
- Historical Years: 2019-2024
- Forecast Period: 2025-2033
South Korea Shrimp Market Key Takeaways
- Current Market Size: USD 1.37 Billion in 2024
- CAGR: 4.03% (2025-2033)
- Forecast Period: 2025-2033
- Adoption of advanced aquaculture technologies such as land-based systems and recirculating aquaculture systems (RAS) is boosting shrimp yields.
- Automation and sensor-based monitoring improve real-time management and reduce operational costs.
- Government policies, including funding incentives and streamlined licensing, support domestic shrimp farming expansion.
- Consumers increasingly prefer local, traceable, and sustainably farmed shrimp, driving market demand.
- Collaborations between technology providers and local firms enable knowledge transfer and operational improvements.
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Market Growth Factors
The South Korea shrimp market is expanding due to increasing demand for locally produced, high-quality seafood and growing investments in sustainable aquaculture technologies. Strong government support, including funding incentives, licensing streamlining, and access to specialized aquaculture zones, motivates private sector investment in domestic shrimp farming. These measures are part of a national strategy to enhance food security and reduce seafood import dependence.
Technological innovation plays a crucial role in market growth. The shrimp industry is adopting advanced production methods such as land-based setups and recirculating aquaculture systems (RAS) that optimize water quality and minimize disease outbreaks. Integration of automation and sensor-based monitoring allows real-time shrimp health management, improving harvest reliability and reducing costs. These innovations support year-round high-yield production aligned with sustainability objectives.
Consumer preferences are shifting towards traceable, eco-friendly, and responsibly farmed shrimp. This growing demand encourages producers to adopt sustainable farming practices, such as chemical-free farming and limited water discharge. Additionally, collaborations between technology providers and local aquaculture firms accelerate knowledge transfer and enhance operational efficiency. Improved infrastructure and supply chain support further create a foundation for sustainable, long-term market expansion.
Market Segmentation
Environment:
- Farmed Shrimp: Key segment involving shrimp cultivated under controlled aquaculture systems.
- Wild Shrimp: Segment comprising shrimp harvested from natural habitats.
Species:
- Penaeus Vannamei: A commonly farmed shrimp species known for its adaptability.
- Penaeus Monodon: Another major species with high market demand.
- Macrobrachium Rosenbergii: Freshwater prawn species included in market analysis.
- Others: Other less common shrimp species.
Shrimp Size:
- <21: Shrimp smaller than 21 mm.
- 21-25: Shrimp sized 21 to 25 mm.
- 26-30: Shrimp sized 26 to 30 mm.
- 31-40: Shrimp sized 31 to 40 mm.
- 41-50: Shrimp sized 41 to 50 mm.
- 51-60: Shrimp sized 51 to 60 mm.
- 61-70: Shrimp sized 61 to 70 mm.
- >70: Shrimp larger than 70 mm.
Distribution Channel:
- Hypermarkets and Supermarkets: Major retail outlets selling shrimp.
- Convenience Stores: Smaller retail outlets distributing shrimp.
- Hotels and Restaurants: Foodservice industry segment sourcing shrimp.
- Online Sales: E-commerce channels for shrimp distribution.
- Others: Other distribution channels.
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Regional Insights
The dominant regions in the South Korea shrimp market include the Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), and Hoseo (Central Region). Each region contributes significantly to the market due to differing consumer bases and production capabilities. The report provides comprehensive regional analysis but specific market shares or CAGR by region are not provided in the source.
Recent Developments & News
In December 2024, South Korea's Aqua Development partnered with ADQ to launch a pilot land-based shrimp farming facility in KEZAD, UAE. This initiative tested patented, high-yield, modular aquaculture systems aimed at enhancing productivity and sustainability. The project is expected to positively impact shrimp market innovation and reduce import dependence.
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