South Korea Aquaculture Vaccines Market Size & Outlook
South Korea aquaculture vaccines market, 2018-2030 (US$M)
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South Korea aquaculture vaccines market highlights
- The South Korea aquaculture vaccines market generated a revenue of USD 4.3 million in 2023 and is expected to reach USD 9.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 11.1% from 2024 to 2030.
- In terms of segment, inactivated (killed) was the largest revenue generating vaccine type in 2023.
- Other Vaccines is the most lucrative vaccine type segment registering the fastest growth during the forecast period.
Aquaculture vaccines market data book summary
| Market revenue in 2023 | USD 4.3 million |
| Market revenue in 2030 | USD 9.0 million |
| Growth rate | 11.1% (CAGR from 2023 to 2030) |
| Largest segment | Inactivated (killed) |
| Fastest growing segment | Other Vaccines |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Modified/ Attenuated Live, Inactivated (Killed), Other Vaccines |
| Key market players worldwide | Zoetis, Phibro Animal Health Corp Class A, Elanco Animal Health Inc, Merck & Co Inc, Choong Ang Vaccine Laboratories (CAVAC), Kyoto Biken Laboratories, Nissenken, KBNP, Vaxxinova, HIPRA |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.1% of the global aquaculture vaccines market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Thailand aquaculture vaccines market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 4.7 million by 2030.
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Aquaculture Vaccines Market Scope
Aquaculture Vaccines Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea aquaculture vaccines market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to aquaculture vaccines market will help companies and investors design strategic landscapes.
Inactivated (killed) was the largest segment with a revenue share of 34.88% in 2023. Horizon Databook has segmented the South Korea aquaculture vaccines market based on modified/ attenuated live, inactivated (killed), other vaccines covering the revenue growth of each sub-segment from 2018 to 2030.
Presence of key market players, technological advancements, and growing aquaculture sector are the main factors contributing to the South Korean Aquaculture Vaccines market. Koreans place a high value on origin, cost, and food safety which makes vaccination an important part of fish health protection strategy.
As per USDA’s Foreign Agricultural Service 2020 report on the Korea Seafood Market, the major species consumed in the country include shrimp, Alaska pollack, anchovy, oyster, squid, mackerel, tuna, flat fish, and octopus. Aquaculture industry is also driven by the restraints affecting capture fishing such as overfishing, increasing marine pollution, reclamation of coastal areas impacting fish habitats, and declining fishing grounds.
This has forced producers to increase yield in limited space while preventing overcrowding of fish. KBNP is a South Korean company that develops and markets vaccines, disinfectants, and other products for livestock, aquatic, and companion animals. The company’s Himmvac lineup of vaccines helps prevent streptococcosis in aquacultured fishes.
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Target buyers of South Korea aquaculture vaccines market databook
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Our clientele includes a mix of aquaculture vaccines market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea aquaculture vaccines market , including forecasts for subscribers. This country databook contains high-level insights into South Korea aquaculture vaccines market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea aquaculture vaccines market size, by vaccine type, 2018-2030 (US$M)
South Korea Aquaculture Vaccines Market Outlook Share, 2023 & 2030 (US$M)
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