Republic of Korea - Fruits - Market Analysis, Forecast, Size, Trends and Insights
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View PricingFruit Price in South Korea - 2022
Contents:
- Fruit Price in South Korea (CIF) - 2022
- Fruit Price in South Korea (FOB) - 2022
- Fruit Imports in South Korea
- Fruit Exports in South Korea
Fruit Price in South Korea (CIF) - 2022
The average fruit import price stood at $1,684 per ton in 2022, rising by 5.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.4%. The most prominent rate of growth was recorded in 2013 an increase of 13% against the previous year. The import price peaked in 2022 and is likely to see steady growth in years to come.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was New Zealand ($3,606 per ton), while the price for Ecuador ($741 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Fruit Price in South Korea (FOB) - 2022
In 2022, the average fruit export price amounted to $3,334 per ton, falling by -9.1% against the previous year. In general, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fruit export price increased by +50.5% against 2015 indices. The growth pace was the most rapid in 2021 an increase of 16% against the previous year. As a result, the export price reached the peak level of $3,666 per ton, and then fell in the following year.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($5,527 per ton), while the average price for exports to Russia ($911 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.
Fruit Imports in South Korea
Fruit imports into South Korea declined to 632K tons in 2022, falling by -11.4% on 2021. In general, imports saw a abrupt descent. The smallest decline of -0.1% was in 2021.
In value terms, fruit imports fell to $1.1B in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 9.3%. As a result, imports attained the peak of $1.1B, and then shrank in the following year.
| Import of Fruit in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Philippines | 296 | 256 | 269 | 272 | -2.8% |
| United States | 355 | 338 | 334 | 231 | -13.3% |
| New Zealand | 93.9 | 114 | 150 | 159 | 19.2% |
| Peru | 60.6 | 65.2 | 101 | 130 | 29.0% |
| Chile | 127 | 86.5 | 86.6 | 72.8 | -16.9% |
| Thailand | 43.1 | 34.1 | 50.4 | 47.6 | 3.4% |
| Vietnam | 9.8 | 12.7 | 22.7 | 38.9 | 58.3% |
| Australia | 17.0 | 42.2 | 35.6 | 31.7 | 23.1% |
| Colombia | 0.9 | 21.0 | 23.5 | 16.1 | 161.5% |
| Ecuador | 23.2 | 15.2 | 13.6 | 11.2 | -21.6% |
| Guatemala | 15.7 | 11.9 | 8.7 | 9.5 | -15.4% |
| Others | 53.0 | 47.4 | 47.4 | 44.9 | -5.4% |
| Total | 1,095 | 1,044 | 1,142 | 1,065 | -0.9% |
Top Suppliers of Fruit to South Korea in 2022:
- Philippines (302.2K tons)
- United States (97.3K tons)
- New Zealand (44.2K tons)
- Peru (40.3K tons)
- Vietnam (26.9K tons)
- Chile (24.5K tons)
- Colombia (16.4K tons)
- Ecuador (15.1K tons)
- Thailand (13.7K tons)
- Guatemala (12.6K tons)
- Australia (11.3K tons)
Fruit Exports in South Korea
In 2022, overseas shipments of fruits were finally on the rise to reach 40K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, saw a noticeable downturn.
In value terms, fruit exports declined slightly to $133M in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 1%.
| Export of Fruit in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 36.6 | 33.5 | 33.8 | 39.7 | 2.7% |
| Taiwan (Chinese) | 30.2 | 28.6 | 30.0 | 26.3 | -4.5% |
| Vietnam | 23.9 | 18.5 | 15.4 | 20.2 | -5.5% |
| Hong Kong SAR | 12.2 | 14.1 | 15.5 | 16.2 | 9.9% |
| Singapore | 4.8 | 5.2 | 4.7 | 5.0 | 1.4% |
| Canada | 3.6 | 3.8 | 3.7 | 4.3 | 6.1% |
| Malaysia | 4.3 | 4.8 | 2.1 | 3.4 | -7.5% |
| Philippines | 1.7 | 2.0 | 1.2 | 2.5 | 13.7% |
| Japan | 2.6 | 2.2 | 2.0 | 2.1 | -6.9% |
| Russia | 0.9 | 3.9 | 5.0 | 1.8 | 26.0% |
| Others | 13.7 | 15.7 | 20.1 | 11.7 | -5.1% |
| Total | 134 | 132 | 134 | 133 | -0.2% |
Top Export Markets for Fruit from South Korea in 2022:
- United States (11.0K tons)
- Taiwan (Chinese) (10.4K tons)
- Vietnam (5.3K tons)
- Hong Kong SAR (2.9K tons)
- Russia (1.9K tons)
- Malaysia (1.6K tons)
- Singapore (1.4K tons)
- Philippines (1.4K tons)
- Canada (1.3K tons)
- Japan (0.6K tons)
This report provides an in-depth analysis of the 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:
- FCL 515 - Apples
- FCL 521 - Pears
- FCL 523 - Quinces
- FCL 526 - Apricots
- FCL 534 - Peaches and nectarines
- FCL 536 - Plums
- FCL 486 - Bananas
- FCL 489 - Plantains
- FCL 577 - Dates
- FCL 569 - Figs
- FCL 574 - Pineapples
- FCL 572 - Avocados
- FCL 571 - Mangoes
- FCL 490 - Oranges
- FCL 495 - Tangerines, mandarins, clementines, satsumas
- FCL 507 - Grapefruit and pomelo
- FCL 497 - Lemons and limes
- FCL 512 - Citrus fruit nes
- FCL 560 - Grapes
- FCL 567 - Watermelons
- FCL 568 - Melons, Cantaloupes
- FCL 600 - Papayas
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
- COUNTRIES WITH TOP YIELDS
- 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, HARVESTED AREA AND YIELD
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
- Yield 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
- Area Harvested, 2012–2023
- Yield, 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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