Republic of Korea - Peanut Butter And Prepared Or Preserved Groundnuts - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPeanut Butter Price in South Korea - 2022
Contents:
- Peanut Butter Price in South Korea (CIF) - 2022
- Peanut Butter Price in South Korea (FOB) - 2022
- Peanut Butter Imports in South Korea
- Peanut Butter Exports in South Korea
Peanut Butter Price in South Korea (CIF) - 2022
The average peanut butter import price stood at $2,231 per ton in December 2022, picking up by 1.5% against the previous month. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in July 2022 when the average import price increased by 8.8% m-o-m. As a result, import price attained the peak level of $2,267 per ton. From August 2022 to December 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($3,739 per ton), while the price for Argentina ($1,806 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 China (+0.3%), while the prices for the other major suppliers experienced a decline.
Peanut Butter Price in South Korea (FOB) - 2022
In 2022, the average peanut butter export price amounted to $7,412 per ton, with a decrease of -15.3% against the previous year. Over the period under review, the export price, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2021 an increase of 75%. Over the period under review, the average export prices reached the maximum at $9,170 per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.
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 Vietnam ($10,255 per ton), while the average price for exports to China ($2,648 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 Germany (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.
Peanut Butter Imports in South Korea
In 2022, the amount of peanut butter and prepared or preserved groundnuts imported into South Korea expanded to 36K tons, increasing by 2.3% on 2021. The total import volume increased at an average annual rate of +3.3% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 10%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.
In value terms, peanut butter imports expanded to $77M in 2022. The total import value increased at an average annual rate of +8.4% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 15%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.
Import of Peanut Butter in South Korea (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 44.1 | 41.6 | 51.1 | 55.1 | 7.7% |
United States | 9.5 | 8.8 | 11.6 | 14.6 | 15.4% |
Argentina | 4.2 | 4.6 | 3.6 | 4.0 | -1.6% |
Myanmar | 0.1 | 7.5 | 5.2 | N/A | 621.1% |
Others | 2.4 | 2.4 | 3.4 | 3.1 | 8.9% |
Total | 60.3 | 64.9 | 74.8 | 76.8 | 8.4% |
Top Suppliers of Peanut Butter to South Korea in 2022:
- Myanmar (undefinedK tons)
- China (28.9K tons)
- United States (3.8K tons)
- Argentina (2.2K tons)
Peanut Butter Exports in South Korea
In 2022, peanut butter exports from South Korea soared to 58 tons, with an increase of 67% against the previous year. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 99%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.
In value terms, peanut butter exports skyrocketed to $433K in 2022. Overall, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 247% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.
Export of Peanut Butter in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | 10.6 | 6.8 | 75.3 | 170 | 152.2% |
Hong Kong SAR | 0.9 | N/A | 88.9 | 59.7 | 304.8% |
Philippines | 1.8 | 6.9 | 12.5 | 38.0 | 176.4% |
Vietnam | 73.7 | 27.0 | 48.5 | 33.5 | -23.1% |
Russia | 11.7 | 2.1 | N/A | 25.2 | 29.1% |
Singapore | 8.2 | N/A | 18.2 | 16.3 | 25.7% |
Mongolia | 3.0 | 6.0 | 10.0 | 14.0 | 67.1% |
China | 45.8 | 14.7 | 0.3 | 8.6 | -42.7% |
Others | 9.6 | 24.5 | 52.2 | 67.9 | 92.0% |
Total | 165 | 88.1 | 306 | 433 | 37.9% |
Top Export Markets for Peanut Butter from South Korea in 2022:
- United States (21.3 tons)
- Hong Kong SAR (8.1 tons)
- Philippines (5.8 tons)
- Singapore (4.9 tons)
- Vietnam (3.3 tons)
- China (3.2 tons)
- Mongolia (3.0 tons)
- Russia (2.5 tons)
This report provides an in-depth analysis of the peanut butter 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 10392330 - Prepared or preserved groundnuts (including peanut butter, e xcluding by vinegar or acetic acid, frozen, purees and pastes)
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
- 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
This report provides an in-depth analysis of the peanut butter market in Republic of Korea.
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This report provides an in-depth analysis of the global canned pineapple market.
This report provides an in-depth analysis of the peanut butter market in Republic of Korea.
This report provides an in-depth analysis of the market for nuts (prepared or preserved) in Republic of Korea.
This report provides an in-depth analysis of the canned pineapple market in Republic of Korea.
This report provides an in-depth analysis of the global peanut butter market.
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In 2015, the countries with the highest levels of nut production were China (X thousand tons), Mexico (X thousand tons), Indonesia (X thousand tons), together accounting for X% of total output.
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