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Republic of Korea - Roots and Tubers - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Root And Tuber Market 2024
Root And Tuber Market Size in Republic of Korea
The South Korean root and tuber market fell to $X in 2022, almost unchanged from the previous year. The market value 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. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.
Root And Tuber Production in Republic of Korea
In value terms, root and tuber production dropped modestly to $X in 2022 estimated in export price. Overall, the total production indicated a temperate 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, production increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. Root and tuber production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.
In 2022, the average yield of roots and tubers in South Korea reduced modestly to X tons per ha, which is down by X% on 2021. In general, the yield showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the yield increased by X% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2020 to 2022, the growth of the average root and tuber yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
The root and tuber harvested area in South Korea reached X ha in 2022, leveling off at the previous year. In general, the harvested area, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to root and tuber production attained the maximum at X ha in 2013; however, from 2014 to 2022, the harvested area remained at a lower figure.
Root And Tuber Exports
Exports from Republic of Korea
In 2022, overseas shipments of roots and tubers increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, exports posted a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; afterwards, it flattened through to 2022.
In value terms, root and tuber exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate resilient growth. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.
Exports by Country
Vietnam (X tons) was the main destination for root and tuber exports from South Korea, with a X% share of total exports. Moreover, root and tuber exports to Vietnam exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), threefold. The third position in this ranking was taken by Russia (X tons), with a X% share.
From 2012 to 2022, the average annual growth rate of volume to Vietnam stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and Russia (X% per year).
In value terms, Hong Kong SAR ($X), Vietnam ($X) and Russia ($X) were the largest markets for root and tuber exported from South Korea worldwide, with a combined X% share of total exports. Singapore lagged somewhat behind, comprising a further X%.
Singapore, with a CAGR of X%, recorded the highest growth rate of the value of exports, among 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
In 2022, the average root and tuber export price amounted to $X per ton, reducing by X% against the previous year. In general, the export price, however, showed strong growth. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then dropped in the following year.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Vietnam ($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 Vietnam (X%), while the prices for the other major destinations experienced mixed trend patterns.
Root And Tuber Imports
Imports into Republic of Korea
In 2022, overseas purchases of roots and tubers increased by X% to X tons, rising for the third consecutive year after three years of decline. Over the period under review, imports, however, saw a abrupt slump. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.
In value terms, root and tuber imports surged to $X in 2022. In general, imports recorded a relatively flat trend pattern. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.
Imports by Country
Thailand (X tons), Vietnam (X tons) and the United States (X tons) were the main suppliers of root and tuber imports to South Korea, with a combined X% share of total imports. These countries were followed by Australia, which accounted for a further X%.
From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.
In value terms, Vietnam ($X), Thailand ($X) and the United States ($X) constituted the largest root and tuber suppliers to South Korea, together comprising X% of total imports.
The United States, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
The average root and tuber import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, root and tuber import price increased by X% against 2016 indices. The growth pace was the most rapid in 2018 an increase of X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the root and tuber 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 125 - Cassava
- FCL 149 - Roots and tubers nes
- FCL 122 - Sweet potatoes
- FCL 136 - Taro (Cocoyam)
- FCL 137 - Yams
- FCL 135 - Yautia (Cocoyam)
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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