Republic of Korea - Frozen Cuttlefishes - Market Analysis, Forecast, Size, Trends And Insights
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View PricingFrozen Cuttlefishes Price in South Korea - 2022
Contents:
- Frozen Cuttlefishes Price in South Korea (CIF) - 2022
- Frozen Cuttlefishes Price in South Korea (FOB) - 2022
- Frozen Cuttlefishes Imports in South Korea
- Frozen Cuttlefishes Exports in South Korea
Frozen Cuttlefishes Price in South Korea (CIF) - 2022
In December 2022, the average frozen cuttlefishes import price amounted to $21,006 per ton, remaining relatively unchanged against the previous month. Overall, the import price saw a slight curtailment. The pace of growth appeared the most rapid in June 2022 when the average import price increased by 20% m-o-m. The import price peaked at $29,318 per ton in July 2022; however, from August 2022 to December 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Vietnam ($30,496 per ton), while the price for China amounted to $11,545 per ton.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+0.1%).
Frozen Cuttlefishes Price in South Korea (FOB) - 2022
In 2022, the average frozen cuttlefishes export price amounted to $18,985 per ton, waning by -24.4% against the previous year. Overall, the export price, however, continues to indicate significant growth. The most prominent rate of growth was recorded in 2017 an increase of 127% against the previous year. Over the period under review, the average export prices hit record highs at $25,100 per ton in 2021, and then fell significantly in the following year.
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 Canada ($33,312 per ton), while the average price for exports to the Philippines ($6,617 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+35.8%), while the prices for the other major destinations experienced more modest paces of growth.
Frozen Cuttlefishes Imports in South Korea
In 2022, supplies from abroad of frozen cuttlefishes increased by 71% to 1.4K tons for the first time since 2019, thus ending a two-year declining trend. In general, total imports indicated a strong increase from 2019 to 2022: its volume increased at an average annual rate of +8.8% over the last three-year period. The trend pattern, however, 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.
In value terms, frozen cuttlefishes imports soared to $32M in 2022. The total import value increased at an average annual rate of +4.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Frozen Cuttlefishes in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 23.9 | 24.2 | 17.5 | 24.0 | 0.1% |
| China | 4.6 | 3.7 | 3.4 | 8.3 | 21.7% |
| Others | N/A | 0.2 | 0.1 | 0.1 | -29.3% |
| Total | 28.5 | 28.1 | 21.0 | 32.4 | 4.4% |
Top Suppliers of Frozen Cuttlefishes to South Korea in 2022:
- Vietnam (755.0 tons)
- China (627.5 tons)
Frozen Cuttlefishes Exports in South Korea
In 2022, approx. 128 tons of frozen cuttlefishes were exported from South Korea; remaining constant against the year before. In general, exports saw a abrupt decline. The pace of growth appeared the most rapid in 2021 when exports increased by 5.9%.
In value terms, frozen cuttlefishes exports declined remarkably to $2.4M in 2022. Overall, total exports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +7.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 35%.
| Export of Frozen Cuttlefishes in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,018 | 1,954 | 2,452 | 1,817 | 21.3% |
| Australia | 119 | 154 | 287 | 189 | 16.7% |
| Canada | 57.1 | 88.8 | 154 | 90.2 | 16.5% |
| Japan | 494 | 59.6 | 63.9 | 60.1 | -50.4% |
| Myanmar | N/A | N/A | N/A | 55.7 | 0% |
| Taiwan (Chinese) | 5.1 | 26.1 | 46.1 | 55.4 | 121.5% |
| Philippines | 34.2 | 2.5 | 37.0 | 33.1 | -1.1% |
| China | 26.4 | 24.7 | 53.2 | 24.0 | -3.1% |
| Vietnam | 5.3 | 12.8 | 11.3 | 17.2 | 48.1% |
| United Arab Emirates | 57.4 | 152 | 47.4 | 16.7 | -33.7% |
| Hong Kong SAR | 1.2 | 5.2 | 21.1 | 14.8 | 131.0% |
| Malaysia | 116 | 96.3 | 0.5 | 2.9 | -70.8% |
| Others | 35.6 | 72.9 | 72.2 | 45.2 | 8.3% |
| Total | 1,969 | 2,649 | 3,246 | 2,421 | 7.1% |
Top Export Markets for Frozen Cuttlefishes from South Korea in 2022:
- United States (79.5 tons)
- Australia (10.9 tons)
- Taiwan (Chinese) (8.0 tons)
- Myanmar (5.1 tons)
- Philippines (5.0 tons)
- Japan (4.7 tons)
- China (3.0 tons)
- Canada (2.7 tons)
- Vietnam (2.3 tons)
- Hong Kong SAR (2.1 tons)
- United Arab Emirates (0.9 tons)
- Malaysia (0.7 tons)
This report provides an in-depth analysis of the frozen cuttlefishes 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:
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
- 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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