Republic of Korea - Lentils - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Lentil Market 2024
Lentil Market Size in Republic of Korea
The South Korean lentil market amounted to $X in 2023, with an increase of X% against the previous year. In general, consumption enjoyed significant growth. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2023, consumption failed to regain momentum.
Lentil Production in Republic of Korea
In value terms, lentil production stood at $X in 2023 estimated in export price. In general, production continues to indicate a dramatic downturn. The growth pace was the most rapid in 2013 when the production volume decreased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.
The average yield of lentils in South Korea totaled less than X kg per ha in 2023, approximately reflecting the year before. Over the period under review, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
The lentil harvested area in South Korea amounted to less than X ha in 2023, remaining stable against 2022. Overall, the harvested area saw a relatively flat trend pattern.
Lentil Exports
Exports from Republic of Korea
In 2023, overseas shipments of lentils were finally on the rise to reach X tons after three years of decline. Overall, exports, however, faced a precipitous descent. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.
In value terms, lentil exports reached $X in 2023. Over the period under review, exports, however, faced a sharp contraction. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2023, the growth of the exports remained at a lower figure.
Exports by Country
Egypt (X tons) was the main destination for lentil exports from South Korea, accounting for a approx. X% share of total exports.
From 2012 to 2023, the average annual growth rate of volume to Egypt amounted to X%.
In value terms, Egypt ($X) also remains the key foreign market for lentils exports from South Korea.
From 2012 to 2023, the average annual growth rate of value to Egypt stood at X%.
Export Prices by Country
In 2023, the average lentil export price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, export price indicated a tangible increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, lentil export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2023, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Egypt.
From 2012 to 2023, the rate of growth in terms of prices for India amounted to X% per year.
Lentil Imports
Imports into Republic of Korea
Lentil imports into South Korea expanded notably to X tons in 2023, surging by X% against 2022 figures. Over the period under review, imports saw significant growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Imports peaked at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.
In value terms, lentil imports rose sharply to $X in 2023. In general, imports saw a significant increase. The pace of growth was the most pronounced in 2016 when imports increased by X%. As a result, imports attained the peak of $X. From 2017 to 2023, the growth of imports failed to regain momentum.
Imports by Country
In 2023, Canada (X tons) constituted the largest supplier of lentil to South Korea, accounting for a X% share of total imports. Moreover, lentil imports from Canada exceeded the figures recorded by the second-largest supplier, Australia (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume from Canada totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and the United States (X% per year).
In value terms, Canada ($X) constituted the largest supplier of lentils to South Korea, comprising X% of total imports. The second position in the ranking was taken by Australia ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.
From 2012 to 2023, the average annual growth rate of value from Canada stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Australia (X% per year) and the United Arab Emirates (X% per year).
Import Prices by Country
The average lentil import price stood at $X per ton in 2023, declining by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2023, import prices remained at a lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from the United Arab Emirates ($X per ton) and Nepal ($X per ton), while the price for Australia ($X per ton) and the United States ($X per ton) were amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the lentil 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 201 - Lentils, dry
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
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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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