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Republic of Korea - Frozen Whole Turkeys - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Frozen Whole Turkey Market 2024
Frozen Whole Turkey Market Size in Republic of Korea
The South Korean frozen whole turkey market dropped sharply to $X in 2022, with a decrease of -75.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption faced a deep downturn. Frozen whole turkey consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.
Frozen Whole Turkey Exports
Exports from Republic of Korea
In 2022, the amount of frozen whole turkeys exported from South Korea dropped to X tons, falling by -6.9% on 2021. Over the period under review, exports showed a sharp decrease. The pace of growth was the most pronounced in 2021 when exports increased by 16%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.
In value terms, frozen whole turkey exports fell to $X in 2022. Overall, exports showed a precipitous slump. The growth pace was the most rapid in 2021 when exports increased by 13% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.
Exports by Country
Vietnam (X tons) was the main destination for frozen whole turkey exports from South Korea, with a approx. 100% share of total exports.
From 2012 to 2022, the average annual growth rate of volume to Vietnam stood at -42.6%.
In value terms, Vietnam ($X) also remains the key foreign market for frozen whole turkeys exports from South Korea.
From 2012 to 2022, the average annual growth rate of value to Vietnam totaled -39.4%.
Export Prices by Country
In 2022, the average frozen whole turkey export price amounted to $X per ton, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of +5.7%. The most prominent rate of growth was recorded in 2013 an increase of 40%. The export price peaked at $X per ton in 2020; afterwards, it flattened through to 2022.
As there is only one major export destination, the average price level is determined by prices for Vietnam.
From 2012 to 2022, the rate of growth in terms of prices for Vietnam amounted to +5.7% per year.
Frozen Whole Turkey Imports
Imports into Republic of Korea
Frozen whole turkey imports into South Korea declined dramatically to X tons in 2022, reducing by -75.5% against the previous year. In general, imports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2021 with an increase of 383% against the previous year. As a result, imports attained the peak of X tons, and then reduced sharply in the following year.
In value terms, frozen whole turkey imports plummeted to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 453% against the previous year. As a result, imports attained the peak of $X, and then dropped significantly in the following year.
Imports by Country
In 2022, Australia (X tons) was the main supplier of frozen whole turkey to South Korea, accounting for a approx. 100% share of total imports.
From 2012 to 2022, the average annual rate of growth in terms of volume from Australia totaled +10.8%.
In value terms, Australia ($X) constituted the largest supplier of frozen whole turkeys to South Korea.
From 2012 to 2022, the average annual growth rate of value from Australia totaled +20.5%.
Import Prices by Country
In 2022, the average frozen whole turkey import price amounted to $X per ton, rising by 12% against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +9.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen whole turkey import price increased by +28.3% against 2020 indices. The growth pace was the most rapid in 2013 when the average import price increased by 58% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for Australia.
From 2012 to 2022, the rate of growth in terms of prices for France amounted to +17.7% per year.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the frozen whole turkey 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 10122015 - Frozen whole turkeys
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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