Republic of Korea - Canned Meat - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCanned Meat Price in South Korea - 2022
Contents:
- Canned Meat Price in South Korea (CIF) - 2022
- Canned Meat Price in South Korea (FOB) - 2022
- Canned Meat Imports in South Korea
- Canned Meat Exports in South Korea
Canned Meat Price in South Korea (CIF) - 2022
In December 2022, the average canned meat import price amounted to $4,784 per ton, falling by -8.4% against the previous month. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in November 2022 when the average import price increased by 18% m-o-m. As a result, import price reached the peak level of $5,224 per ton, and then contracted in the following month.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was the United States ($11,943 per ton), while the price for China ($3,010 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 the United States (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Canned Meat Price in South Korea (FOB) - 2022
The average canned meat export price stood at $4,559 per ton in December 2022, rising by 6.1% against the previous month. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2022 when the average export price increased by 10% against the previous month. As a result, the export price attained the peak level of $5,223 per ton. From June 2022 to December 2022, the the average export prices remained at a lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($7,219 per ton), while the average price for exports to the Philippines ($3,317 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 United States (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.
Canned Meat Imports in South Korea
In 2022, approx. 26K tons of canned meat were imported into South Korea; shrinking by -41.7% compared with the year before. Over the period under review, imports faced a dramatic slump. The smallest decline of -7.1% was in 2021.
In value terms, canned meat imports fell remarkably to $99M in 2022. Overall, imports faced a sharp setback. The smallest decline of -9.7% was in 2021.
| Import of Canned Meat in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 127 | 116 | 65.2 | 53.7 | -24.9% |
| China | 51.8 | 40.7 | 27.7 | 26.1 | -20.4% |
| United States | 35.6 | 34.5 | 19.5 | 5.3 | -47.0% |
| Denmark | 7.9 | 7.4 | 3.8 | 3.4 | -24.5% |
| Argentina | 1.1 | 3.1 | 4.0 | 3.0 | 39.7% |
| Hong Kong SAR | 7.7 | 1.6 | 0.4 | 1.3 | -44.7% |
| Australia | 1.1 | 1.7 | 1.3 | 1.0 | -3.1% |
| Others | 5.8 | 4.2 | 66.8 | 4.8 | -6.1% |
| Total | 238 | 209 | 189 | 98.5 | -25.5% |
Top Suppliers of Canned Meat to South Korea in 2022:
- Thailand (12.6K tons)
- China (8.5K tons)
- United States (1.4K tons)
- Hong Kong SAR (1.0K tons)
- Denmark (0.9K tons)
- Argentina (0.6K tons)
- Australia (0.4K tons)
Canned Meat Exports in South Korea
In 2022, after three years of growth, there was significant decline in overseas shipments of canned meat, when their volume decreased by -11.1% to 6.5K tons. Overall, total exports indicated a buoyant increase from 2019 to 2022: its volume increased at an average annual rate of +15.3% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 69% against the previous year.
In value terms, canned meat exports declined dramatically to $28M in 2022. In general, total exports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +11.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 71%.
| Export of Canned Meat in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 3.5 | 10.5 | 8.6 | 6.8 | 24.8% |
| United States | 4.5 | 5.9 | 5.2 | 4.1 | -3.1% |
| Japan | 3.5 | 4.9 | 5.5 | 3.9 | 3.7% |
| Vietnam | 1.8 | 2.3 | 3.0 | 2.6 | 13.0% |
| Malaysia | 1.0 | 2.5 | 3.0 | 2.5 | 35.7% |
| Taiwan (Chinese) | 1.4 | 1.7 | 2.1 | 1.7 | 6.7% |
| Singapore | 0.4 | 0.4 | 0.6 | 1.3 | 48.1% |
| Canada | N/A | 1.4 | 1.1 | 0.9 | -19.8% |
| Australia | 0.7 | 1.0 | 0.8 | 0.7 | 0.0% |
| Myanmar | 1.0 | 1.0 | 0.8 | 0.6 | -15.7% |
| China | 0.9 | 0.7 | 0.5 | 0.5 | -17.8% |
| Others | 1.6 | 2.5 | 3.7 | 2.0 | 7.7% |
| Total | 20.2 | 34.7 | 34.9 | 27.7 | 11.1% |
Top Export Markets for Canned Meat from South Korea in 2022:
- Hong Kong SAR (1539.5 tons)
- Japan (1033.3 tons)
- United States (956.6 tons)
- Malaysia (803.9 tons)
- Vietnam (516.5 tons)
- Taiwan (Chinese) (515.7 tons)
- Singapore (349.9 tons)
- Canada (130.9 tons)
- Australia (125.5 tons)
- Myanmar (71.3 tons)
- China (71.3 tons)
This report provides an in-depth analysis of the canned meat 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 10861010 - Homogenised preparations of meat, meat offal or blood (excluding sausages and similar products of meat, food preparations based on these products)
- Prodcom 10131505 - Prepared or preserved goose or duck liver (excluding sausages and prepared meals and dishes)
- Prodcom 10131515 - Prepared or preserved liver of other animals (excluding sausages and prepared meals and dishes)
- Prodcom 10131525 - Prepared or preserved meat or offal of turkeys (excluding sausages, preparations of liver and prepared meals and dishes)
- Prodcom 10131535 - Other prepared or preserved poultry meat (excluding sausages, preparations of liver and prepared meals and dishes)
- Prodcom 10131545 - Prepared or preserved meat of swine: hams and cuts thereof (excluding prepared meals and dishes)
- Prodcom 10131555 - Prepared or preserved meat of swine: shoulders and cuts thereof, of swine (excluding prepared meals and dishes)
- Prodcom 10131565 - Prepared or preserved meat, offal and mixtures of domestic swine, including mixtures, containing < .40 % meat or offal of any kind and fats of any kind (excluding sausages and similar products, homogenised preparations, preparations of liver and prepared meals and dishes)
- Prodcom 10131575 - Other prepared or preserved meat, offal and mixtures of
- Prodcom 10131585 - Prepared or preserved meat or offal of bovine animals (excluding sausages and similar products, homogenised preparations, preparations of liver and prepared meals and dishes)
- Prodcom 10131595 - Other prepared or preserved meat or offal, including blood
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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