Republic of Korea - Frozen Fruits - Market Analysis, Forecast, Size, Trends and Insights
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View PricingFrozen Fruit Price in South Korea - 2022
Contents:
- Frozen Fruit Price in South Korea (CIF) - 2022
- Frozen Fruit Price in South Korea (FOB) - 2022
- Frozen Fruit Imports in South Korea
- Frozen Fruit Exports in South Korea
Frozen Fruit Price in South Korea (CIF) - 2022
The average frozen fruit import price stood at $2,745 per ton in December 2022, remaining relatively unchanged against the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in November 2022 an increase of 4.7% against the previous month. The import price peaked at $2,790 per ton in June 2022; however, from July 2022 to December 2022, import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Canada ($4,207 per ton), while the price for Indonesia ($1,815 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Frozen Fruit Price in South Korea (FOB) - 2022
The average frozen fruit export price stood at $3,912 per ton in 2021, growing by 11% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 59% against the previous year. As a result, the export price attained the peak level of $4,670 per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($5,860 per ton), while the average price for exports to Vietnam ($1,507 per ton) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+2.0%), while the prices for the other major destinations experienced mixed trend patterns.
Frozen Fruit Imports in South Korea
After three years of growth, purchases abroad of frozen fruits decreased by -3.1% to 51K tons in 2022. The total import volume increased at an average annual rate of +3.0% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 6.6% against the previous year. As a result, imports reached the peak of 53K tons, and then reduced modestly in the following year.
In value terms, frozen fruit imports shrank to $121M in 2022. The total import value increased at an average annual rate of +5.5% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 20% against the previous year. As a result, imports attained the peak of $132M, and then contracted in the following year.
| Import of Frozen Fruit in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| China | 31.8 | 26.6 | 28.6 | -5.2% | |
| United States | 22.1 | 24.5 | 22.6 | 1.1% | |
| Peru | 13.2 | 18.1 | 15.6 | 8.7% | |
| Vietnam | 13.9 | 16.9 | 15.5 | 5.6% | |
| Chile | 12.1 | 14.1 | 14.8 | 10.6% | |
| Philippines | 1.1 | 1.6 | 1.5 | 16.8% | |
| Indonesia | 1.5 | 0.4 | 0.8 | -27.0% | |
| Others | 7.1 | 7.5 | 32.4 | 113.6% | |
| Total | 103 | 110 | 132 | 13.2% | |
Top Suppliers of Frozen Fruit to South Korea in 2022:
- China (17.1K tons)
- United States (7.8K tons)
- Vietnam (7.3K tons)
- Peru (5.7K tons)
- Chile (5.4K tons)
- Philippines (1.1K tons)
- Indonesia (0.9K tons)
Frozen Fruit Exports in South Korea
In 2022, after three years of growth, there was significant decline in overseas shipments of frozen fruits, when their volume decreased by -7.7% to 630 tons. The total export volume increased at an average annual rate of +12.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 29%.
In value terms, frozen fruit exports shrank to $2.4M in 2022. Over the period under review, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +16.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +58.9% against 2019 indices. The pace of growth appeared the most rapid in 2020 with an increase of 37% against the previous year.
| Export of Frozen Fruit in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| Singapore | 193 | 804 | 598 | 76.0% | |
| Japan | 668 | 331 | 478 | -15.4% | |
| China | 117 | 73.6 | 81.8 | -16.4% | |
| United States | 71.0 | 29.3 | 45.0 | -20.4% | |
| Hong Kong SAR | 22.3 | 43.4 | 36.2 | 27.4% | |
| Vietnam | 78.4 | 65.0 | 28.5 | -39.7% | |
| Northern Mariana Islands | 28.1 | 10.4 | 21.7 | -12.1% | |
| Others | 303 | 675 | 1,382 | 113.6% | |
| Total | 1,480 | 2,032 | 2,671 | 34.3% | |
Top Export Markets for Frozen Fruit from South Korea in 2022:
- Singapore (147.1 tons)
- Japan (132.2 tons)
- China (48.5 tons)
- Vietnam (18.9 tons)
- Northern Mariana Islands (6.6 tons)
- Hong Kong SAR (6.2 tons)
- United States (5.1 tons)
This report provides an in-depth analysis of the frozen fruit market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10392100 - Frozen fruit and nuts uncooked or cooked by steaming or boiling in water
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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