Republic of Korea - Potato Chips - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPotato Chips Price in South Korea - 2022
Contents:
- Potato Chips Price in South Korea (CIF) - 2022
- Potato Chips Price in South Korea (FOB) - 2022
- Potato Chips Imports in South Korea
- Potato Chips Exports in South Korea
Potato Chips Price in South Korea (CIF) - 2022
The average potato chips import price stood at $7,142 per ton in December 2022, remaining relatively unchanged against the previous month. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2022 when the average import price increased by 35% month-to-month. As a result, import price reached the peak level of $8,382 per ton. From March 2022 to December 2022, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was Spain ($10,360 per ton), while the price for India ($2,027 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 Sweden (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Potato Chips Price in South Korea (FOB) - 2022
In December 2022, the average potato chips export price amounted to $9,144 per ton, growing by 30% against the previous month. Over the period under review, the export price showed a relatively flat trend pattern. The export price peaked at $9,477 per ton in February 2022; however, from March 2022 to December 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major overseas markets. In December 2022, the country with the highest price was Australia ($12,375 per ton), while the average price for exports to Vietnam ($2,176 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 Japan (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.
Potato Chips Imports in South Korea
In 2022, overseas purchases of potato chips decreased by -2.5% to 1.7K 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 +9.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 25%. As a result, imports reached the peak of 1.8K tons, and then declined modestly in the following year.
In value terms, potato chips imports reached $11M in 2022. In general, imports, however, posted a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 62%. Imports peaked in 2022 and are expected to retain growth in the near future.
| Import of Potato Chips in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.1 | 3.2 | 4.6 | 4.7 | 30.8% |
| Spain | 1.3 | 1.5 | 2.4 | 2.6 | 26.0% |
| Italy | 0.3 | 0.5 | 1.4 | 1.5 | 71.0% |
| Taiwan (Chinese) | N/A | N/A | 0.7 | 0.8 | 14.3% |
| China | 0.4 | 0.4 | 0.3 | 0.5 | 7.7% |
| India | 0.2 | 0.2 | 0.1 | 0.2 | 0.0% |
| Netherlands | 0.3 | N/A | N/A | N/A | 0% |
| Others | 0.8 | 0.9 | 1.5 | 1.0 | 7.7% |
| Total | 5.4 | 6.8 | 11.0 | 11.1 | 27.1% |
Top Suppliers of Potato Chips to South Korea in 2022:
- United States (858.1 tons)
- Spain (246.6 tons)
- China (202.4 tons)
- Italy (162.7 tons)
- India (103.5 tons)
- Taiwan (Chinese) (61.8 tons)
Potato Chips Exports in South Korea
In 2022, the amount of potato chips exported from South Korea soared to 625 tons, with an increase of 30% against the year before. Overall, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 58% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.
In value terms, potato chips exports expanded to $4.9M in 2022. In general, total exports indicated significant growth from 2019 to 2022: its value increased at an average annual rate of +20.4% 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 +74.6% against 2019 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 52%. The exports peaked in 2022 and are expected to retain growth in years to come.
| Export of Potato Chips in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 1,318 | 1,844 | 2,080 | 2,047 | 15.8% |
| Taiwan (Chinese) | 116 | 183 | 684 | 1,552 | 137.4% |
| Hong Kong SAR | 387 | 403 | 474 | 308 | -7.3% |
| Australia | 249 | 245 | 220 | 262 | 1.7% |
| Canada | 197 | 288 | 316 | 231 | 5.5% |
| China | 293 | 1,058 | 663 | 192 | -13.1% |
| Japan | 38.2 | 51.1 | 143 | 169 | 64.2% |
| Vietnam | 69.1 | 47.6 | 53.5 | 61.8 | -3.7% |
| Others | 165 | 181 | 181 | 123 | -9.3% |
| Total | 2,833 | 4,301 | 4,815 | 4,947 | 20.4% |
Top Export Markets for Potato Chips from South Korea in 2022:
- Taiwan (Chinese) (238.4 tons)
- United States (208.3 tons)
- Hong Kong SAR (43.9 tons)
- Japan (34.6 tons)
- Australia (25.8 tons)
- Canada (25.2 tons)
- China (23.3 tons)
- Vietnam (11.6 tons)
This report provides an in-depth analysis of the potato chips 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 10311430 - Potatoes prepared or preserved in the form of flour, meal or flakes (excluding frozen, crisps, by vinegar or acetic acid)
- Prodcom 10311460 - Potatoes prepared or preserved, including crisps (excluding frozen, dried, by vinegar or acetic acid, in the form of flour, m eal or flakes)
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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1580
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