South Korea: Oyster market trends in Europe

Published Feb 26, 2024

Tridge summary

Despite Europe's high seafood consumption, Korean oyster exports to the region are low, making up only 2.7% of global exports. The Korean Ministry of Oceans and Fisheries aims to increase this by promoting the health benefits of Korean oysters and creating new processing recipes. The goal is to boost the farming of individual oysters, which are favored by American and European consumers, from 1% to 30% by 2030. To successfully export to Europe, companies are advised to understand the European seafood market and local consumer preferences for oysters.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Europe with active oyster consumption… We must actively promote Korean products Last year, domestic oysters were exported at $85.97 million, with Japan ranked first. Europe's share is still low at $2.32 million, or about 3%. According to the Food and Agriculture Organization of the United Nations (FAO), the European Union (EU) is the largest market, accounting for 34% of global seafood imports. As of 2022, the top 10 countries in terms of seafood imports are the United States (1st), China (2nd), Japan (3rd), Spain (4th), France (5th), Italy (6th), Germany (7th), Korea (8th), Sweden (9th), and the Netherlands (10th). appear. Of the top 10 countries that import the most seafood in the world, six are European countries. In fact, awareness of healthy food continues to increase in Europe, and with the rise of vegetarianism, which avoids meat, consumption of seafood is also increasing. According to the oyster report published by FAO, the total production of oysters in 27 EU countries ...

Source: Fisheco