Republic of Korea - Cheese and Curd - Market Analysis, Forecast, Size, Trends And Insights
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View PricingCheese and Curd Price in South Korea - 2022
Contents:
- Cheese and Curd Price in South Korea (CIF) - 2022
- Cheese and Curd Price in South Korea (FOB) - 2022
- Cheese and Curd Imports in South Korea
- Cheese and Curd Exports in South Korea
Cheese and Curd Price in South Korea (CIF) - 2022
The average cheese and curd import price stood at $5,907 per ton in December 2022, growing by 1.6% against the previous month. Over the last twelve months, it increased at an average monthly rate of +2.1%. The pace of growth was the most pronounced in November 2022 an increase of 6.2% m-o-m. Over the period under review, average import prices reached the peak figure in December 2022.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Italy ($9,590 per ton), while the price for Germany ($5,585 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 Netherlands (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Cheese and Curd Price in South Korea (FOB) - 2022
In December 2022, the average cheese and curd export price amounted to $7,317 per ton, surging by 2.9% against the previous month. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in January 2022 an increase of 27% against the previous month. As a result, the export price attained the peak level of $8,957 per ton. From February 2022 to December 2022, the the average export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Hong Kong SAR ($18,439 per ton), while the average price for exports to Japan ($5,115 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 (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.
Cheese and Curd Imports in South Korea
After three years of growth, purchases abroad of cheese and curd decreased by -1.4% to 154K tons in 2022. The total import volume increased at an average annual rate of +5.5% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 13%.
In value terms, cheese and curd imports skyrocketed to $793M in 2022. The total import value increased at an average annual rate of +12.6% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Cheese and Curd in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 253 | 259 | 290 | 344 | 10.8% |
| New Zealand | 79.8 | 103 | 115 | 119 | 14.2% |
| Germany | 47.2 | 54.4 | 52.8 | 74.0 | 16.2% |
| Netherlands | 14.2 | 18.6 | 45.7 | 48.6 | 50.7% |
| Italy | 27.6 | 33.6 | 41.8 | 46.2 | 18.7% |
| Australia | 35.3 | 35.9 | 39.8 | 46.2 | 9.4% |
| Denmark | 26.7 | 43.8 | 36.3 | 33.7 | 8.1% |
| France | 30.0 | 28.5 | 33.5 | 27.4 | -3.0% |
| Others | 41.6 | 52.6 | 30.7 | 54.2 | 9.2% |
| Total | 555 | 629 | 685 | 793 | 12.6% |
Top Suppliers of Cheese and Curd to South Korea in 2022:
- United States (67.4K tons)
- New Zealand (23.1K tons)
- Germany (16.0K tons)
- Netherlands (12.1K tons)
- Australia (8.5K tons)
- Denmark (6.9K tons)
- Italy (5.2K tons)
- France (3.9K tons)
Cheese and Curd Exports in South Korea
In 2022, shipments abroad of cheese and curd decreased by -3% to 1.3K tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2021 with an increase of 80%. As a result, the exports attained the peak of 1.3K tons, and then declined slightly in the following year.
In value terms, cheese and curd exports rose to $9.7M in 2022. Over the period under review, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of 60% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.
| Export of Cheese and Curd in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,582 | 2,676 | 4,341 | 3,252 | 27.1% |
| Vietnam | 1,004 | 1,124 | 1,378 | 2,704 | 39.1% |
| Japan | 21.1 | 857 | 1,616 | 1,228 | 287.5% |
| Taiwan (Chinese) | 272 | 247 | 262 | 594 | 29.7% |
| Philippines | 65.2 | 74.6 | 286 | 556 | 104.3% |
| Hong Kong SAR | 387 | 296 | 336 | 474 | 7.0% |
| United States | 47.6 | 317 | 864 | 395 | 102.5% |
| Myanmar | 47.0 | 46.7 | 20.3 | 116 | 35.1% |
| Russia | 182 | 124 | 195 | 38.5 | -40.4% |
| Others | 94.4 | 181 | 196 | 368 | 57.4% |
| Total | 3,703 | 5,943 | 9,491 | 9,727 | 38.0% |
Top Export Markets for Cheese and Curd from South Korea in 2022:
- China (348.4 tons)
- Vietnam (292.0 tons)
- Japan (213.4 tons)
- Taiwan (Chinese) (97.7 tons)
- Philippines (93.9 tons)
- Hong Kong SAR (69.4 tons)
- United States (49.5 tons)
- Myanmar (31.5 tons)
- Russia (30.0 tons)
This report provides an in-depth analysis of the cheese and curd 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 901 - Cheese from Whole Cow Milk
- FCL 904 - Cheese from Skimmed Cow Milk
- FCL 905 - Whey Cheese
- FCL 907 - Processed Cheese
- FCL 955 - Cheese of Buffalo Milk
- FCL 984 - Cheese of Sheep Milk
- FCL 1021 - Cheese of Goat 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.
-
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
-
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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