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Republic of Korea - Fresh or Chilled Cuts of Chicken - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Fresh Chicken Cut Market 2024
Fresh Chicken Cut Market Size in Republic of Korea
The South Korean fresh chicken cut market contracted modestly to $X in 2021, falling by -3.2% against the previous year. In general, consumption showed a significant increase. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.
Fresh Chicken Cut Production in Republic of Korea
In value terms, fresh chicken cut production contracted modestly to $X in 2021 estimated in export price. Over the period under review, production posted a significant expansion. The growth pace was the most rapid in 2015 when the production volume increased by 66% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.
Fresh Chicken Cut Exports
Exports from Republic of Korea
In 2021, the amount of fresh or chilled cuts of chicken exported from South Korea reduced sharply to X tons, waning by -46.8% compared with the year before. Over the period under review, exports continue to indicate a precipitous contraction. The smallest decline of -24% was in 2017. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.
In value terms, fresh chicken cut exports fell remarkably to $X in 2021. Overall, exports continue to indicate a precipitous decline. The smallest decline of -20% was in 2017. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.
Exports by Country
Hong Kong SAR (X tons) was the main destination for fresh chicken cut exports from South Korea, accounting for a 94% share of total exports. Moreover, fresh chicken cut exports to Hong Kong SAR exceeded the volume sent to the second major destination, the Philippines (X kg), more than tenfold.
From 2012 to 2021, the average annual rate of growth in terms of volume to Hong Kong SAR amounted to -37.7%.
In value terms, Hong Kong SAR ($X) remains the key foreign market for fresh or chilled cuts of chicken exports from South Korea, comprising 93% of total exports. The second position in the ranking was taken by the Philippines ($X), with a 6.6% share of total exports.
From 2012 to 2021, the average annual rate of growth in terms of value to Hong Kong SAR stood at -31.1%.
Export Prices by Country
In 2021, the average fresh chicken cut export price amounted to $X per ton, picking up by 20% against the previous year. Overall, the export price posted a prominent increase. The most prominent rate of growth was recorded in 2013 an increase of 25% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in years to come.
Average prices varied noticeably for the major overseas markets. In 2021, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Hong Kong SAR totaled $X per ton.
From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+47.5%).
Fresh Chicken Cut Imports
Imports into Republic of Korea
In 2021, overseas purchases of fresh or chilled cuts of chicken decreased by -87.7% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, imports, however, showed significant growth. The pace of growth was the most pronounced in 2013 when imports increased by 14,786%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.
In value terms, fresh chicken cut imports contracted dramatically to $X in 2021. In general, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 18,665% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.
Imports by Country
In 2021, the United States (X tons) constituted the largest fresh chicken cut supplier to South Korea, accounting for a 86% share of total imports. Moreover, fresh chicken cut imports from the United States exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sevenfold.
From 2012 to 2021, the average annual growth rate of volume from the United States amounted to +96.5%.
In value terms, the United States ($X) constituted the largest supplier of fresh or chilled cuts of chicken to South Korea, comprising 77% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 20% share of total imports.
From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +50.5%.
Import Prices by Country
In 2021, the average fresh chicken cut import price amounted to $X per ton, surging by 20% against the previous year. In general, the import price, however, continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2016 when the average import price increased by 36%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.
Prices varied noticeably country of origin: the country with the highest price was the Netherlands ($X per ton), while the price for the United States totaled $X per ton.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+22.8%), while the prices for the other major suppliers experienced a decline.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the fresh chicken cut 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 10121050 - Fresh or chilled cuts of chicken
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, PRODUCING ANIMALS 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
- Producing Animals Slaughtered, 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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