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Republic of Korea - Temporarily Preserved Vegetable - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Temporarily Preserved Vegetable Market 2024
Temporarily Preserved Vegetable Market Size in Republic of Korea
In 2022, after three years of decline, there was significant growth in the South Korean temporarily preserved vegetable market, when its value increased by 23% to $X. The market value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Temporarily preserved vegetable consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.
Temporarily Preserved Vegetable Exports
Exports from Republic of Korea
In 2022, approx. X tons of vegetables (temporarily preserved) were exported from South Korea; which is down by -69.1% on the previous year. Over the period under review, exports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2014 when exports increased by 751% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.
In value terms, temporarily preserved vegetable exports dropped notably to $X in 2022. Overall, exports saw a perceptible curtailment. The growth pace was the most rapid in 2014 when exports increased by 458% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.
Exports by Country
Vietnam (X tons) was the main destination for temporarily preserved vegetable exports from South Korea, accounting for a 65% share of total exports. Moreover, temporarily preserved vegetable exports to Vietnam exceeded the volume sent to the second major destination, the United States (X tons), twofold.
From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-2.9% per year) and Hong Kong SAR (-24.4% per year).
In value terms, Vietnam ($X) remains the key foreign market for vegetables (temporarily preserved) exports from South Korea, comprising 65% of total exports. The second position in the ranking was taken by the United States ($X), with a 27% share of total exports.
From 2012 to 2022, the average annual rate of growth in terms of value to Vietnam amounted to +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-0.1% per year) and Hong Kong SAR (-21.1% per year).
Export Prices by Country
The average temporarily preserved vegetable export price stood at $X per ton in 2022, jumping by 43% against the previous year. Over the period under review, the export price saw prominent growth. The most prominent rate of growth was recorded in 2018 an increase of 96% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to the United States ($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 (+4.4%), while the prices for the other major destinations experienced more modest paces of growth.
Temporarily Preserved Vegetable Imports
Imports into Republic of Korea
In 2022, supplies from abroad of vegetables (temporarily preserved) was finally on the rise to reach X tons after four years of decline. Overall, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 31%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a lower figure.
In value terms, temporarily preserved vegetable imports surged to $X in 2022. The total import value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 34% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.
Imports by Country
In 2022, China (X tons) was the main supplier of temporarily preserved vegetable to South Korea, with a 95% share of total imports. Moreover, temporarily preserved vegetable imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold.
From 2012 to 2022, the average annual growth rate of volume from China was relatively modest.
In value terms, China ($X) constituted the largest supplier of vegetables (temporarily preserved) to South Korea, comprising 92% of total imports. The second position in the ranking was taken by India ($X), with a 6.2% share of total imports.
From 2012 to 2022, the average annual growth rate of value from China was relatively modest.
Import Prices by Country
In 2022, the average temporarily preserved vegetable import price amounted to $X per ton, rising by 3.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 9.6%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for China stood at $X per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+3.6%).
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the temporarily preserved vegetable 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 474 - Vegetables, Temporarily Preserved
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
- 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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