Republic of Korea - Ghee - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Ghee Market 2024
Ghee Market Size in Republic of Korea
The South Korean ghee market surged to $X in 2022, with an increase of X% 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). Over the period under review, consumption recorded significant growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.
Ghee Exports
Exports from Republic of Korea
In 2022, the amount of ghee exported from South Korea shrank sharply to X kg, declining by X% on the previous year's figure. In general, exports, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, ghee exports dropped remarkably to $X in 2022. Over the period under review, exports, however, saw a mild increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then contracted markedly in the following year.
Exports by Country
Hong Kong SAR (X kg) was the main destination for ghee exports from South Korea, with a X% share of total exports. Moreover, ghee exports to Hong Kong SAR exceeded the volume sent to the second major destination, Malaysia (X kg), fivefold.
From 2013 to 2022, the average annual growth rate of volume to Hong Kong SAR totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and the United States (X% per year).
In value terms, Hong Kong SAR ($X) remains the key foreign market for ghee exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports.
From 2013 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and the United States (X% per year).
Export Prices by Country
In 2022, the average ghee export price amounted to $X per ton, growing by X% against the previous year. In general, the export price, however, continues to indicate a deep slump. The growth pace was the most rapid in 2020 when the average export price increased by X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.
From 2013 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 a decline.
Ghee Imports
Imports into Republic of Korea
For the sixth consecutive year, South Korea recorded growth in supplies from abroad of ghee, which increased by X% to X tons in 2022. Over the period under review, imports enjoyed a significant increase. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
In value terms, ghee imports skyrocketed to $X in 2022. Overall, imports showed a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.
Imports by Country
In 2022, the United States (X tons) constituted the largest ghee supplier to South Korea, accounting for a X% share of total imports. Moreover, ghee imports from the United States exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sevenfold. France (X tons) ranked third in terms of total imports with an X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and France (X% per year).
In value terms, the United States ($X) constituted the largest supplier of ghee to South Korea, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total imports. It was followed by France, with an X% share.
From 2012 to 2022, the average annual growth rate of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and France (X% per year).
Import Prices by Country
In 2022, the average ghee import price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to see steady growth in years to come.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (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 ghee 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 887 - Ghee from Cow Milk
- FCL 953 - Ghee, from Buffalo Milk
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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