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Republic of Korea - Fruits - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Fruit Market 2024
Fruit Market Size in Republic of Korea
The South Korean fruit market dropped slightly to $X in 2022, waning by X% against the previous year. Overall, consumption showed a relatively flat trend pattern. Fruit consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.
Fruit Production in Republic of Korea
In value terms, fruit production totaled $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by X%. Fruit production peaked at $X in 2020; afterwards, it flattened through to 2022.
In 2022, the average yield of fruits in South Korea shrank slightly to X tons per ha, with a decrease of X% on 2021 figures. Overall, the yield saw a slight shrinkage. The most prominent rate of growth was recorded in 2014 when the yield increased by X% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2015 to 2022, the growth of the average fruit yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2022, the total area harvested in terms of fruits production in South Korea declined to X ha, approximately equating the previous year. In general, the harvested area saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The fruit harvested area peaked at X ha in 2016; however, from 2017 to 2022, the harvested area stood at a somewhat lower figure.
Fruit Exports
Exports from Republic of Korea
After three years of decline, overseas shipments of fruits increased by X% to X tons in 2022. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 with an increase of X%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.
In value terms, fruit exports contracted slightly to $X in 2022. Over the period under review, total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2018 when exports increased by X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
Exports by Country
The United States (X tons), Taiwan (Chinese) (X tons) and Vietnam (X tons) were the main destinations of fruit exports from South Korea, together accounting for X% of total exports.
From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of X%), while the other leaders experienced more modest paces of growth.
In value terms, the United States ($X), Taiwan (Chinese) ($X) and Vietnam ($X) were the largest markets for fruit exported from South Korea worldwide, together comprising X% of total exports.
Vietnam, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
The average fruit export price stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, fruit export price increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Russia ($X 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 Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.
Fruit Imports
Imports into Republic of Korea
In 2022, supplies from abroad of fruits decreased by X% to X tons, falling for the fourth year in a row after five years of growth. In general, imports saw a mild decrease. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.
In value terms, fruit imports dropped to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.
Imports by Country
In 2022, the Philippines (X tons) constituted the largest fruit supplier to South Korea, with a X% share of total imports. Moreover, fruit imports from the Philippines exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. New Zealand (X tons) ranked third in terms of total imports with a X% share.
From 2012 to 2022, the average annual growth rate of volume from the Philippines stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and New Zealand (X% per year).
In value terms, the Philippines ($X), the United States ($X) and New Zealand ($X) constituted the largest fruit suppliers to South Korea, with a combined X% share of total imports. Peru, Chile, Thailand, Vietnam, Australia, Colombia, Ecuador and Guatemala lagged somewhat behind, together accounting for a further X%.
Colombia, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2022, the average fruit import price amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was New Zealand ($X per ton), while the price for Ecuador ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the fruit 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 515 - Apples
- FCL 521 - Pears
- FCL 523 - Quinces
- FCL 526 - Apricots
- FCL 534 - Peaches and nectarines
- FCL 536 - Plums
- FCL 486 - Bananas
- FCL 489 - Plantains
- FCL 577 - Dates
- FCL 569 - Figs
- FCL 574 - Pineapples
- FCL 572 - Avocados
- FCL 571 - Mangoes
- FCL 490 - Oranges
- FCL 495 - Tangerines, mandarins, clementines, satsumas
- FCL 507 - Grapefruit and pomelo
- FCL 497 - Lemons and limes
- FCL 512 - Citrus fruit nes
- FCL 560 - Grapes
- FCL 567 - Watermelons
- FCL 568 - Melons, Cantaloupes
- FCL 600 - Papayas
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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