South Korea Cold Chain for Seafood Market
Description
South Korea Cold Chain for Seafood Market Overview
The South Korea Cold Chain for Seafood Market is valued at USD 3.7 billion, based on a five-year historical analysis. This growth is primarily driven by the increasing demand for fresh and high-quality seafood products, coupled with advancements in cold chain logistics and technology. The rising consumer preference for seafood, attributed to its health benefits, has further fueled the market's expansion.
Key cities dominating the market include Seoul, Busan, and Incheon. Seoul, as the capital, serves as a major hub for seafood distribution and consumption, while Busan, being a prominent port city, facilitates significant seafood imports and exports. Incheon also plays a vital role due to its strategic location and advanced logistics infrastructure, making it a critical player in the cold chain for seafood. The Honam (Southwestern region) has emerged as a dominant force, holding significant market share due to its coastal geography and abundant fishing grounds in the Yellow Sea.
The South Korean government has implemented the Food Safety Management Act, 2020 issued by the Ministry of Food and Drug Safety, which establishes comprehensive cold chain requirements for perishable goods including seafood. This regulation mandates continuous temperature monitoring systems throughout the supply chain, requires HACCP certification for cold storage facilities, and sets specific temperature thresholds for different seafood categories to ensure products are stored and transported under optimal conditions to maintain quality and safety.
South Korea Cold Chain for Seafood Market Segmentation
By Type:
The market is segmented into various types of seafood products, including fish, shellfish, cephalopods, processed seafood, frozen seafood, canned seafood, dried seafood, live seafood, and others. Among these, fish and shellfish are the most prominent segments, driven by consumer preferences for fresh and diverse seafood options. The frozen and canned seafood segments are gaining significant traction, with frozen/canned products commanding approximately 49.6% of the broader seafood market, reflecting the increasing demand for convenience and ready-to-eat meals among time-conscious urban consumers.
By End-User:
The end-user segmentation includes retail, food service, wholesale/distributors, and exporters/importers. The retail segment, comprising supermarkets, hypermarkets, and convenience stores, is the largest due to the growing consumer demand for seafood products. The food service sector is also significant, driven by the increasing number of restaurants and catering services focusing on seafood offerings. Cold chain logistics particularly benefit from the meat, seafood, and poultry category, which retained the largest slice at 26.8% of the food logistics market, reflecting the critical importance of temperature-controlled distribution for these perishable products.
South Korea Cold Chain for Seafood Market Competitive Landscape
The South Korea Cold Chain for Seafood Market is characterized by a dynamic mix of regional and international players. Leading participants such as Dongwon Industries, Sajo Industries, Jeil Food, Hansung Enterprise, Daewon Fisheries, Samho F&G, Haeundae Suhyup (Haeundae Fisheries Cooperative), Korea Cold Storage Co., Ltd., Seajoy Korea, Hanjin Transportation, CJ Logistics, Lotte Global Logistics, SK Networks, Hyundai Glovis, KCTC (Korea Container Terminal Co., Ltd.) contribute to innovation, geographic expansion, and service delivery in this space.
Dongwon Industries
1969
Busan, South Korea
Sajo Industries
1973
Seoul, South Korea
Jeil Food
1981
Seoul, South Korea
Hansung Enterprise
1990
Incheon, South Korea
Daewon Fisheries
1985
Busan, South Korea
Company
Establishment Year
Headquarters
Group Size (Large, Medium, or Small as per industry convention)
Revenue Growth Rate (YoY %)
Market Share in Seafood Cold Chain Segment (%)
Cold Storage Capacity (cubic meters or pallet positions)
Fleet Size (number of refrigerated vehicles)
Delivery Lead Time (average hours/days)
South Korea Cold Chain for Seafood Market Industry Analysis
Growth Drivers
Increasing Demand for Fresh Seafood:
The South Korean seafood consumption reached approximately
1.5 million tons
in future, driven by a growing preference for fresh and high-quality products. The per capita seafood consumption is projected to be around
30.0 kg
in future, reflecting a steady increase. This rising demand is supported by a shift in consumer behavior towards healthier diets, emphasizing the need for efficient cold chain logistics to maintain product freshness and quality throughout the supply chain.
Expansion of E-commerce in Seafood Distribution:
The e-commerce seafood market in South Korea is expected to grow significantly, with online sales projected to reach approximately
USD 1.5 billion
in future. This growth is fueled by the increasing adoption of digital platforms for purchasing seafood, particularly among younger consumers. The convenience of online shopping, coupled with improved delivery logistics, is driving the demand for robust cold chain solutions to ensure product integrity during transit.
Technological Advancements in Cold Chain Logistics:
The South Korean cold chain logistics sector is witnessing rapid technological advancements, with investments in IoT and AI expected to exceed
USD 600 million
in future. These technologies enhance monitoring and tracking capabilities, ensuring optimal temperature control and reducing spoilage rates. As a result, seafood distributors are increasingly adopting these innovations to improve operational efficiency and meet the rising consumer expectations for freshness and quality.
Market Challenges
High Operational Costs:
The operational costs associated with cold chain logistics in South Korea are estimated to be around
USD 1.9 billion
annually. Factors contributing to these costs include energy expenses for refrigeration, transportation, and labor. As seafood distributors strive to maintain competitive pricing while ensuring product quality, these high operational costs pose a significant challenge, potentially impacting profit margins and market growth.
Stringent Regulatory Requirements:
The seafood industry in South Korea is subject to rigorous regulatory standards, with compliance costs estimated at approximately
USD 350 million
annually. These regulations encompass food safety, traceability, and environmental sustainability, requiring seafood companies to invest in compliance measures. Navigating these stringent requirements can be challenging, particularly for smaller players, potentially hindering their ability to compete effectively in the market.
South Korea Cold Chain for Seafood Market Future Outlook
The South Korea cold chain for seafood market is poised for significant transformation, driven by technological innovations and evolving consumer preferences. As sustainability becomes a priority, companies are likely to adopt eco-friendly practices in sourcing and distribution. Additionally, the integration of advanced tracking systems will enhance transparency and traceability, fostering consumer trust. The market is expected to see increased collaboration between seafood producers and logistics providers, optimizing supply chain efficiency and ensuring product quality in a competitive landscape.
Market Opportunities
Growth in Export Markets:
South Korea's seafood exports are projected to reach
USD 2.6 billion
in future, driven by increasing demand in international markets. This growth presents opportunities for local seafood producers to expand their reach and leverage cold chain logistics to maintain product quality during transportation, enhancing their competitiveness in global markets.
Innovations in Packaging Technology:
The packaging technology sector is expected to see investments of around
USD 200 million
in future, focusing on sustainable and smart packaging solutions. These innovations can significantly enhance the shelf life of seafood products, reduce waste, and improve consumer convenience, creating new avenues for growth in the cold chain seafood market.
Please Note: It will take 5-7 business days to complete the report upon order confirmation.
The South Korea Cold Chain for Seafood Market is valued at USD 3.7 billion, based on a five-year historical analysis. This growth is primarily driven by the increasing demand for fresh and high-quality seafood products, coupled with advancements in cold chain logistics and technology. The rising consumer preference for seafood, attributed to its health benefits, has further fueled the market's expansion.
Key cities dominating the market include Seoul, Busan, and Incheon. Seoul, as the capital, serves as a major hub for seafood distribution and consumption, while Busan, being a prominent port city, facilitates significant seafood imports and exports. Incheon also plays a vital role due to its strategic location and advanced logistics infrastructure, making it a critical player in the cold chain for seafood. The Honam (Southwestern region) has emerged as a dominant force, holding significant market share due to its coastal geography and abundant fishing grounds in the Yellow Sea.
The South Korean government has implemented the Food Safety Management Act, 2020 issued by the Ministry of Food and Drug Safety, which establishes comprehensive cold chain requirements for perishable goods including seafood. This regulation mandates continuous temperature monitoring systems throughout the supply chain, requires HACCP certification for cold storage facilities, and sets specific temperature thresholds for different seafood categories to ensure products are stored and transported under optimal conditions to maintain quality and safety.
South Korea Cold Chain for Seafood Market Segmentation
By Type:
The market is segmented into various types of seafood products, including fish, shellfish, cephalopods, processed seafood, frozen seafood, canned seafood, dried seafood, live seafood, and others. Among these, fish and shellfish are the most prominent segments, driven by consumer preferences for fresh and diverse seafood options. The frozen and canned seafood segments are gaining significant traction, with frozen/canned products commanding approximately 49.6% of the broader seafood market, reflecting the increasing demand for convenience and ready-to-eat meals among time-conscious urban consumers.
By End-User:
The end-user segmentation includes retail, food service, wholesale/distributors, and exporters/importers. The retail segment, comprising supermarkets, hypermarkets, and convenience stores, is the largest due to the growing consumer demand for seafood products. The food service sector is also significant, driven by the increasing number of restaurants and catering services focusing on seafood offerings. Cold chain logistics particularly benefit from the meat, seafood, and poultry category, which retained the largest slice at 26.8% of the food logistics market, reflecting the critical importance of temperature-controlled distribution for these perishable products.
South Korea Cold Chain for Seafood Market Competitive Landscape
The South Korea Cold Chain for Seafood Market is characterized by a dynamic mix of regional and international players. Leading participants such as Dongwon Industries, Sajo Industries, Jeil Food, Hansung Enterprise, Daewon Fisheries, Samho F&G, Haeundae Suhyup (Haeundae Fisheries Cooperative), Korea Cold Storage Co., Ltd., Seajoy Korea, Hanjin Transportation, CJ Logistics, Lotte Global Logistics, SK Networks, Hyundai Glovis, KCTC (Korea Container Terminal Co., Ltd.) contribute to innovation, geographic expansion, and service delivery in this space.
Dongwon Industries
1969
Busan, South Korea
Sajo Industries
1973
Seoul, South Korea
Jeil Food
1981
Seoul, South Korea
Hansung Enterprise
1990
Incheon, South Korea
Daewon Fisheries
1985
Busan, South Korea
Company
Establishment Year
Headquarters
Group Size (Large, Medium, or Small as per industry convention)
Revenue Growth Rate (YoY %)
Market Share in Seafood Cold Chain Segment (%)
Cold Storage Capacity (cubic meters or pallet positions)
Fleet Size (number of refrigerated vehicles)
Delivery Lead Time (average hours/days)
South Korea Cold Chain for Seafood Market Industry Analysis
Growth Drivers
Increasing Demand for Fresh Seafood:
The South Korean seafood consumption reached approximately
1.5 million tons
in future, driven by a growing preference for fresh and high-quality products. The per capita seafood consumption is projected to be around
30.0 kg
in future, reflecting a steady increase. This rising demand is supported by a shift in consumer behavior towards healthier diets, emphasizing the need for efficient cold chain logistics to maintain product freshness and quality throughout the supply chain.
Expansion of E-commerce in Seafood Distribution:
The e-commerce seafood market in South Korea is expected to grow significantly, with online sales projected to reach approximately
USD 1.5 billion
in future. This growth is fueled by the increasing adoption of digital platforms for purchasing seafood, particularly among younger consumers. The convenience of online shopping, coupled with improved delivery logistics, is driving the demand for robust cold chain solutions to ensure product integrity during transit.
Technological Advancements in Cold Chain Logistics:
The South Korean cold chain logistics sector is witnessing rapid technological advancements, with investments in IoT and AI expected to exceed
USD 600 million
in future. These technologies enhance monitoring and tracking capabilities, ensuring optimal temperature control and reducing spoilage rates. As a result, seafood distributors are increasingly adopting these innovations to improve operational efficiency and meet the rising consumer expectations for freshness and quality.
Market Challenges
High Operational Costs:
The operational costs associated with cold chain logistics in South Korea are estimated to be around
USD 1.9 billion
annually. Factors contributing to these costs include energy expenses for refrigeration, transportation, and labor. As seafood distributors strive to maintain competitive pricing while ensuring product quality, these high operational costs pose a significant challenge, potentially impacting profit margins and market growth.
Stringent Regulatory Requirements:
The seafood industry in South Korea is subject to rigorous regulatory standards, with compliance costs estimated at approximately
USD 350 million
annually. These regulations encompass food safety, traceability, and environmental sustainability, requiring seafood companies to invest in compliance measures. Navigating these stringent requirements can be challenging, particularly for smaller players, potentially hindering their ability to compete effectively in the market.
South Korea Cold Chain for Seafood Market Future Outlook
The South Korea cold chain for seafood market is poised for significant transformation, driven by technological innovations and evolving consumer preferences. As sustainability becomes a priority, companies are likely to adopt eco-friendly practices in sourcing and distribution. Additionally, the integration of advanced tracking systems will enhance transparency and traceability, fostering consumer trust. The market is expected to see increased collaboration between seafood producers and logistics providers, optimizing supply chain efficiency and ensuring product quality in a competitive landscape.
Market Opportunities
Growth in Export Markets:
South Korea's seafood exports are projected to reach
USD 2.6 billion
in future, driven by increasing demand in international markets. This growth presents opportunities for local seafood producers to expand their reach and leverage cold chain logistics to maintain product quality during transportation, enhancing their competitiveness in global markets.
Innovations in Packaging Technology:
The packaging technology sector is expected to see investments of around
USD 200 million
in future, focusing on sustainable and smart packaging solutions. These innovations can significantly enhance the shelf life of seafood products, reduce waste, and improve consumer convenience, creating new avenues for growth in the cold chain seafood market.
Please Note: It will take 5-7 business days to complete the report upon order confirmation.
Table of Contents
87 Pages
- 1. South Korea Cold Chain for Seafood Market Overview
- 1.1. Definition and Scope
- 1.2. Market Taxonomy
- 1.3. Market Growth Rate
- 1.4. Market Segmentation Overview
- 2. South Korea Cold Chain for Seafood Market Size (in USD Bn), 2019–2024
- 2.1. Historical Market Size
- 2.2. Year-on-Year Growth Analysis
- 2.3. Key Market Developments and Milestones
- 3. South Korea Cold Chain for Seafood Market Analysis
- 3.1. Growth Drivers
- 3.1.1. Increasing demand for fresh seafood
- 3.1.2. Expansion of e-commerce in seafood distribution
- 3.1.3. Technological advancements in cold chain logistics
- 3.1.4. Government support for seafood industry
- 3.2. Restraints
- 3.2.1. High operational costs
- 3.2.2. Stringent regulatory requirements
- 3.2.3. Limited infrastructure in rural areas
- 3.2.4. Competition from alternative protein sources
- 3.3. Opportunities
- 3.3.1. Growth in export markets
- 3.3.2. Innovations in packaging technology
- 3.3.3. Rising health consciousness among consumers
- 3.3.4. Partnerships with local fisheries
- 3.4. Trends
- 3.4.1. Shift towards sustainable seafood sourcing
- 3.4.2. Increasing use of IoT in cold chain management
- 3.4.3. Growth of online seafood marketplaces
- 3.4.4. Focus on traceability and transparency
- 3.5. Government Regulation
- 3.5.1. Food Safety and Inspection Service regulations
- 3.5.2. Import/export compliance standards
- 3.5.3. Environmental regulations on seafood processing
- 3.5.4. Subsidies for cold chain infrastructure development
- 3.6. SWOT Analysis
- 3.7. Stakeholder Ecosystem
- 3.8. Competition Ecosystem
- 4. South Korea Cold Chain for Seafood Market Segmentation, 2024
- 4.1. By Type (in Value %)
- 4.1.1. Fish
- 4.1.2. Shellfish (including shrimp, crab, oyster, clam, etc.)
- 4.1.3. Cephalopods (squid, octopus, cuttlefish)
- 4.1.4. Processed Seafood (smoked, marinated, seasoned, ready-to-eat)
- 4.1.5. Others
- 4.2. By End-User (in Value %)
- 4.2.1. Retail (supermarkets, hypermarkets, convenience stores)
- 4.2.2. Food Service (restaurants, hotels, catering)
- 4.2.3. Wholesale/Distributors
- 4.2.4. Exporters/Importers
- 4.3. By Distribution Channel (in Value %)
- 4.3.1. Direct Sales
- 4.3.2. Online Sales
- 4.3.3. Supermarkets/Hypermarkets
- 4.3.4. Specialty Seafood Stores
- 4.4. By Packaging Type (in Value %)
- 4.4.1. Vacuum Packaging
- 4.4.2. Modified Atmosphere Packaging (MAP)
- 4.4.3. Bulk Packaging
- 4.4.4. Individual Quick Freezing (IQF) Packaging
- 4.5. By Temperature Control (in Value %)
- 4.5.1. Chilled (0–4°C)
- 4.5.2. Frozen (below -18°C)
- 4.6. By Region (in Value %)
- 4.6.1. Seoul
- 4.6.2. Busan
- 4.6.3. Incheon
- 4.6.4. Jeju
- 4.6.5. Others
- 5. South Korea Cold Chain for Seafood Market Cross Comparison
- 5.1. Detailed Profiles of Major Companies
- 5.1.1. Dongwon Industries
- 5.1.2. Sajo Industries
- 5.1.3. Jeil Food
- 5.1.4. Hansung Enterprise
- 5.1.5. Daewon Fisheries
- 5.2. Cross Comparison Parameters
- 5.2.1. Revenue Growth Rate (YoY %)
- 5.2.2. Market Share in Seafood Cold Chain Segment (%)
- 5.2.3. Cold Storage Capacity (cubic meters or pallet positions)
- 5.2.4. Fleet Size (number of refrigerated vehicles)
- 5.2.5. Delivery Lead Time (average hours/days)
- 6. South Korea Cold Chain for Seafood Market Regulatory Framework
- 6.1. Food Safety Standards
- 6.2. Compliance Requirements and Audits
- 6.3. Certification Processes
- 7. South Korea Cold Chain for Seafood Market Future Size (in USD Bn), 2025–2030
- 7.1. Future Market Size Projections
- 7.2. Key Factors Driving Future Market Growth
- 8. South Korea Cold Chain for Seafood Market Future Segmentation, 2030
- 8.1. By Type (in Value %)
- 8.2. By End-User (in Value %)
- 8.3. By Distribution Channel (in Value %)
- 8.4. By Packaging Type (in Value %)
- 8.5. By Temperature Control (in Value %)
- 8.6. By Region (in Value %)
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