Republic of Korea - Breakfast Cereals - Market Analysis, Forecast, Size, Trends and Insights
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View PricingBreakfast Cereal Price in South Korea - 2022
Contents:
- Breakfast Cereal Price in South Korea (FOB) - 2022
- Breakfast Cereal Price in South Korea (CIF) - 2022
- Breakfast Cereal Exports in South Korea
- Breakfast Cereal Imports in South Korea
Breakfast Cereal Price in South Korea (FOB) - 2022
In December 2022, the average breakfast cereal export price amounted to $3,921 per ton, growing by 1.9% against the previous month. Over the period under review, the export price, however, saw a slight decline. The most prominent rate of growth was recorded in September 2022 an increase of 14% month-to-month. The export price peaked at $4,801 per ton in June 2022; however, from July 2022 to December 2022, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Hong Kong SAR ($7,704 per ton), while the average price for exports to the United States ($2,969 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.
Breakfast Cereal Price in South Korea (CIF) - 2022
The average breakfast cereal import price stood at $3,722 per ton in December 2022, growing by 6.5% against the previous month. Over the period from December 2021 to December 2022, it increased at an average monthly rate of +1.9%. The growth pace was the most rapid in October 2022 when the average import price increased by 16% month-to-month. Over the period under review, average import prices hit record highs in December 2022.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($6,869 per ton), while the price for India ($1,133 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Italy (+3.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Breakfast Cereal Exports in South Korea
In 2022, approx. 37K tons of breakfast cereals were exported from South Korea; increasing by 14% against 2021 figures. In general, total exports indicated a significant expansion from 2019 to 2022: its volume increased at an average annual rate of +26.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +100.2% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 40%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.
In value terms, breakfast cereal exports expanded rapidly to $137M in 2022. Over the period under review, total exports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +25.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +96.6% against 2019 indices. The pace of growth was the most pronounced in 2020 with an increase of 35% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.
| Export of Breakfast Cereal in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 21.9 | 36.4 | 39.4 | 49.4 | 31.1% |
| China | 12.3 | 20.0 | 36.1 | 38.1 | 45.8% |
| Australia | 8.3 | 7.2 | 9.4 | 13.5 | 17.6% |
| Taiwan (Chinese) | 2.9 | 4.4 | 6.8 | 7.6 | 37.9% |
| Philippines | 5.3 | 4.8 | 3.2 | 3.7 | -11.3% |
| Hong Kong SAR | 2.6 | 4.8 | 6.4 | 3.4 | 9.4% |
| Vietnam | 3.2 | 2.4 | 2.8 | 3.2 | 0.0% |
| New Zealand | 1.2 | 1.4 | 2.1 | 2.6 | 29.4% |
| Japan | 1.6 | 2.0 | 2.0 | 2.5 | 16.0% |
| Canada | 1.0 | 1.6 | 1.5 | 1.7 | 19.3% |
| Russia | 3.4 | 1.9 | 0.6 | 1.5 | -23.9% |
| Others | 6.3 | 7.7 | 9.7 | 10.3 | 17.8% |
| Total | 69.9 | 94.6 | 120 | 137 | 25.1% |
Top Export Markets for Breakfast Cereal from South Korea in 2022:
- United States (18.5K tons)
- China (5.9K tons)
- Australia (3.3K tons)
- Philippines (1.5K tons)
- Taiwan (Chinese) (1.1K tons)
- Vietnam (0.8K tons)
- New Zealand (0.8K tons)
- Hong Kong SAR (0.8K tons)
- Canada (0.6K tons)
- Japan (0.6K tons)
- Russia (0.4K tons)
Breakfast Cereal Imports in South Korea
In 2022, purchases abroad of breakfast cereals decreased by -8.5% to 15K tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +2.7% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 11%. As a result, imports reached the peak of 17K tons, and then dropped in the following year.
In value terms, breakfast cereal imports stood at $52M in 2022. The total import value increased at an average annual rate of +7.9% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 14% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.
| Import of Breakfast Cereal in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 8.9 | 8.8 | 9.9 | 11.9 | 10.2% |
| Belgium | 8.7 | 8.8 | 11.4 | 11.5 | 9.7% |
| United States | 11.4 | 14.7 | 15.0 | 6.9 | -15.4% |
| Taiwan (Chinese) | 0.3 | 0.5 | 0.9 | 3.8 | 133.1% |
| Thailand | 2.4 | 1.6 | 1.1 | 2.0 | -5.9% |
| Italy | 0.8 | 1.2 | 1.0 | 1.6 | 26.0% |
| Egypt | 0.2 | 0.9 | 0.8 | 1.3 | 86.6% |
| India | 0.4 | 0.5 | 1.0 | 1.2 | 44.2% |
| Germany | 1.8 | 1.6 | 1.6 | 1.1 | -15.1% |
| Pakistan | 0.3 | 0.6 | 0.4 | 0.6 | 26.0% |
| Vietnam | 0.3 | 0.1 | 0.2 | 0.2 | -12.6% |
| Others | 5.9 | 6.2 | 8.5 | 9.9 | 18.8% |
| Total | 41.4 | 45.6 | 51.9 | 52.0 | 7.9% |
Top Suppliers of Breakfast Cereal to South Korea in 2022:
- Belgium (4.4K tons)
- China (4.3K tons)
- United States (1.2K tons)
- India (0.8K tons)
- Taiwan (Chinese) (0.6K tons)
- Italy (0.5K tons)
- Pakistan (0.4K tons)
- Egypt (0.3K tons)
- Vietnam (0.3K tons)
- Germany (0.3K tons)
- Thailand (0.3K tons)
This report provides an in-depth analysis of the breakfast cereal 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 10613351 - Muesli type preparations based on unroasted cereal flakes
- Prodcom 10613355 - Cereals in grain form, precooked or otherwise prepared (excluding maize)
- Prodcom 10613353 - Other prepared foods obtained by the swelling or roasting of cereals
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
-
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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