South Korean seaweed is increasing its popularity in the global market

Frozen Seaweed
South Korea
Market & Price Trends
Published Apr 12, 2024

Tridge summary

The global market has seen a significant surge in the popularity of Korean seaweed, with exports experiencing a 28.1% increase in value to $141.36 million and a 15.3% rise in volume to 674 tons in the early months of this year compared to the same timeframe last year. This growth is largely fueled by a more than 40% increase in exports to the US and China, driven by a heightened demand for dried and seasoned seaweed, particularly around the Lunar New Year holiday. The spike in demand can be attributed to poor seaweed harvests in Japan and China, positioning Korea as a leading supplier. This situation has led to a sharp increase in prices due to intense competition for Korean dried seaweed, especially noted in Thailand where the value of exports rose by 36.0% to $13.79 million, despite only a modest increase in volume.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

As the popularity of Korean seaweed is increasing in the global market, seaweed exports from January to February of this year increased by nearly 30% compared to the same period last year. In particular, exports to the US and Chinese markets each increased by more than 40%. According to the Ministry of Oceans and Fisheries, seaweed exports from January to February amounted to $141.36 million, a 28.1% increase from the same period last year. Volume increased by 15.3% to 674 tons. Among major markets, exports to the United States, China, and Thailand increased noticeably. Accordingly, seaweed exports to the United States from January to February increased by 41.6% to $28.18 million. US export volume increased by 29.5% to 862 tons. In China and Thailand, exports of dried seaweed increased. The export amount to China increased by 42.2% to $23.13 million, and the export volume increased by 28.0% to 1,278 tons. In particular, exports of dried seaweed and seasoned seaweed increased ...
Source: Susantimes
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