Republic of Korea - Canned Vegetables - Market Analysis, Forecast, Size, Trends and Insights
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View PricingCanned Vegetable Price in South Korea - 2022
Contents:
- Canned Vegetable Price in South Korea (CIF) - 2022
- Canned Vegetable Price in South Korea (FOB) - 2022
- Canned Vegetable Imports in South Korea
- Canned Vegetable Exports in South Korea
Canned Vegetable Price in South Korea (CIF) - 2022
In December 2022, the average canned vegetable import price amounted to $829 per ton, falling by -3.7% against the previous month. In general, the import price continues to indicate a mild slump. The pace of growth appeared the most rapid in April 2022 when the average import price increased by 6.5% against the previous month. As a result, import price reached the peak level of $1,013 per ton. From May 2022 to December 2022, the average import prices remained at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Spain ($1,722 per ton), while the price for China ($720 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 (+3.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Canned Vegetable Price in South Korea (FOB) - 2022
The average canned vegetable export price stood at $3,551 per ton in December 2022, with an increase of 4.4% against the previous month. In general, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $3,638 per ton in January 2022; afterwards, it flattened through to December 2022.
There were significant differences in the average prices for the major overseas markets. In December 2022, the country with the highest price was Canada ($4,465 per ton), while the average price for exports to the Philippines ($2,708 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 Canada (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.
Canned Vegetable Imports in South Korea
In 2022, supplies from abroad of canned vegetables was finally on the rise to reach 456K tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, saw a relatively flat trend pattern.
In value terms, canned vegetable imports stood at $410M in 2022. The total import value increased at an average annual rate of +11.2% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 12% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.
| Import of Canned Vegetable in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 221 | 245 | 265 | 300 | 10.7% |
| Thailand | 27.6 | 33.4 | 36.7 | 35.8 | 9.1% |
| United States | 21.3 | 18.7 | 24.1 | 25.6 | 6.3% |
| Italy | 12.2 | 13.7 | 18.9 | 21.0 | 19.8% |
| Spain | 7.4 | 9.9 | 14.0 | 15.8 | 28.8% |
| Others | 8.3 | 9.5 | 12.3 | 11.9 | 12.8% |
| Total | 298 | 330 | 371 | 410 | 11.2% |
Top Suppliers of Canned Vegetable to South Korea in 2022:
- China (374.0K tons)
- Thailand (36.2K tons)
- Italy (18.7K tons)
- United States (14.6K tons)
- Spain (8.9K tons)
Canned Vegetable Exports in South Korea
In 2022, overseas shipments of canned vegetables decreased by -2.5% to 47K tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +12.2% over the period from 2019 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 2020 when exports increased by 34% against the previous year.
In value terms, canned vegetable exports fell to $163M in 2022. Overall, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +11.2% 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 +37.4% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 37% against the previous year.
| Export of Canned Vegetable in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 56.0 | 72.0 | 82.0 | 62.5 | 3.7% |
| United States | 20.4 | 30.1 | 37.2 | 37.7 | 22.7% |
| Hong Kong SAR | 5.6 | 8.5 | 8.8 | 8.1 | 13.1% |
| Taiwan (Chinese) | 5.0 | 6.2 | 8.0 | 7.7 | 15.5% |
| Australia | 4.5 | 6.8 | 6.3 | 7.3 | 17.5% |
| Netherlands | 3.6 | 5.4 | 5.8 | 6.8 | 23.6% |
| United Kingdom | 3.5 | 4.0 | 5.7 | 5.5 | 16.3% |
| Canada | 3.1 | 4.2 | 4.1 | 4.6 | 14.1% |
| Singapore | 2.7 | 4.5 | 4.3 | 3.6 | 10.1% |
| Others | 14.0 | 20.7 | 20.2 | 18.7 | 10.1% |
| Total | 118 | 162 | 182 | 163 | 11.4% |
Top Export Markets for Canned Vegetable from South Korea in 2022:
- Japan (20.2K tons)
- United States (10.7K tons)
- Hong Kong SAR (2.1K tons)
- Australia (2.0K tons)
- Taiwan (Chinese) (1.8K tons)
- Netherlands (1.7K tons)
- United Kingdom (1.3K tons)
- Canada (1.2K tons)
- Singapore (1.0K tons)
This report provides an in-depth analysis of the canned 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 472 - Vegetables, Preserved nes (O/T vinegar)
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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Despite relatively flat year to year export numbers in 2014, Italy continued to lead the way in the global trade of vegetables (homogenized preparations). In 2014, Italy exported X thousand tons of vegetables (homogenized preparations) totaling X m
1580
In 2020, global preserved sweet corn exports rose by +4.1% y-o-y to $1B. Thailand, Hungary and France head the list of the largest exporters worldwide. The average export price for preserved sweet corn remained relatively unchanged in 2020. Germany, the UK, Japan were the prime destinations for imported preserved sweet corn last year.
1152
Hungary dominates in the global trade of prepared sweet corn. In 2014, Hungary exported X thousand tons of prepared sweet corn totaling X million USD, X% over the previous year. Its primary trading partner was Germany, where it supplied X% of it
1336
Despite relatively flat year to year export numbers in 2014, Italy continued to lead the way in the global trade of vegetables (homogenized preparations). In 2014, Italy exported X thousand tons of vegetables (homogenized preparations) totaling X m
1580
In 2020, global preserved sweet corn exports rose by +4.1% y-o-y to $1B. Thailand, Hungary and France head the list of the largest exporters worldwide. The average export price for preserved sweet corn remained relatively unchanged in 2020. Germany, the UK, Japan were the prime destinations for imported preserved sweet corn last year.
1152
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