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Republic of Korea - Sardines (Prepared Or Preserved) - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPreserved Sardines Price in South Korea - 2022
Contents:
- Preserved Sardines Price in South Korea (CIF) - 2022
- Preserved Sardines Price in South Korea (FOB) - 2022
- Preserved Sardines Imports in South Korea
- Preserved Sardines Exports in South Korea
Preserved Sardines Price in South Korea (CIF) - 2022
In 2022, the average preserved sardines import price amounted to $2,655 per ton, growing by 3.7% against the previous year. Overall, the import price, however, showed a slight curtailment. The growth pace was the most rapid in 2018 when the average import price increased by 50%. The import price peaked at $3,559 per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Portugal ($7,538 per ton), while the price for the Philippines ($1,392 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Preserved Sardines Price in South Korea (FOB) - 2022
In 2022, the average preserved sardines export price amounted to $2,479 per ton, growing by 73% against the previous year. In general, the export price, however, recorded a deep slump. The pace of growth was the most pronounced in 2018 an increase of 88%. The export price peaked at $6,448 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
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 the United Arab Emirates ($17,166 per ton), while the average price for exports to the Philippines ($552 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 the Netherlands (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.
Preserved Sardines Imports in South Korea
In 2022, approx. 543 tons of sardines (prepared or preserved) were imported into South Korea; with a decrease of -35.1% on 2021. In general, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 240%. As a result, imports reached the peak of 837 tons, and then shrank sharply in the following year.
In value terms, preserved sardines imports fell dramatically to $1.4M in 2022. Over the period under review, imports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 188% against the previous year. As a result, imports reached the peak of $2.1M, and then dropped sharply in the following year.
Import of Preserved Sardines in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Latvia | 17.7 | 12.8 | 267 | 260 | 144.9% |
Philippines | 196 | 181 | 304 | 179 | -3.0% |
Thailand | 74.0 | 281 | 200 | 177 | 33.7% |
Portugal | 49.9 | 9.1 | 52.3 | 106 | 28.5% |
Lithuania | N/A | N/A | 76.6 | 74.5 | -2.7% |
Indonesia | 82.8 | 27.2 | 50.4 | 42.9 | -19.7% |
China | 40.7 | 34.1 | 25.1 | 21.1 | -19.7% |
Others | 604 | 197 | 1,167 | 583 | -1.2% |
Total | 1,065 | 743 | 2,143 | 1,443 | 10.7% |
Top Suppliers of Preserved Sardines to South Korea in 2022:
- Philippines (128.9 tons)
- Latvia (104.2 tons)
- Thailand (80.0 tons)
- Lithuania (21.9 tons)
- Indonesia (19.9 tons)
- Portugal (14.1 tons)
- China (13.2 tons)
Preserved Sardines Exports in South Korea
In 2022, approx. 49 tons of sardines (prepared or preserved) were exported from South Korea; with an increase of 79% on the previous year. Over the period under review, exports posted a strong increase. The pace of growth was the most pronounced in 2020 when exports increased by 90% against the previous year. As a result, the exports reached the peak of 71 tons. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, preserved sardines exports soared to $122K in 2022. In general, exports posted notable growth.
Export of Preserved Sardines in South Korea (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | 11.8 | 27.5 | 5.8 | 55.9 | 67.9% |
United Arab Emirates | 18.5 | 44.0 | 8.7 | 17.7 | -1.5% |
China | 0.3 | 2.9 | 8.4 | 15.5 | 272.5% |
Netherlands | 1.0 | 6.0 | 3.6 | 6.7 | 88.5% |
Philippines | 2.4 | 7.7 | 3.1 | 5.7 | 33.4% |
Vietnam | 3.2 | 3.9 | 0.2 | 2.6 | -6.7% |
Kiribati | N/A | 93.5 | N/A | N/A | 0% |
Samoa | 69.0 | N/A | N/A | N/A | 0% |
Others | 7.3 | 18.2 | 9.3 | 17.5 | 33.8% |
Total | 113 | 204 | 39.2 | 122 | 2.6% |
Top Export Markets for Preserved Sardines from South Korea in 2022:
- United States (18.9 tons)
- Philippines (10.3 tons)
- China (4.3 tons)
- United Arab Emirates (1.0 tons)
- Netherlands (0.9 tons)
- Vietnam (0.7 tons)
This report provides an in-depth analysis of the preserved sardines 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 10202530 - Prepared or preserved sardines, sardinella, brisling and sprats, whole or in pieces (excluding minced products and prepared meals and dishes)
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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