Republic of Korea - Beef And Veal (Salted, In Brine, Dried Or Smoked) - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPreserved Beef Price in South Korea - 2022
Contents:
- Preserved Beef Price in South Korea (FOB) - 2022
- Preserved Beef Price in South Korea (CIF) - 2022
- Preserved Beef Exports in South Korea
- Preserved Beef Imports in South Korea
Preserved Beef Price in South Korea (FOB) - 2022
In 2022, the average preserved beef export price amounted to $12,509 per ton, picking up by 12% against the previous year. In general, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preserved beef export price decreased by -9.7% against 2020 indices. The pace of growth was the most pronounced in 2020 when the average export price increased by 60% against the previous year. As a result, the export price reached the peak level of $13,852 per ton. From 2021 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Mongolia ($37,825 per ton), while the average price for exports to Algeria ($4,850 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 Mongolia (+14.7%), while the prices for the other major destinations experienced mixed trend patterns.
Preserved Beef Price in South Korea (CIF) - 2022
The average preserved beef import price stood at $10,595 per ton in 2022, surging by 5.2% against the previous year. In general, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, preserved beef import price decreased by -39.0% against 2018 indices. The growth pace was the most rapid in 2013 when the average import price increased by 58%. Over the period under review, average import prices reached the peak figure at $17,376 per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Australia ($14,110 per ton), while the price for Hong Kong SAR stood at $10,593 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Preserved Beef Exports in South Korea
Preserved beef exports from South Korea dropped modestly to 3.3 tons in 2022, remaining stable against 2021. Over the period under review, exports saw a dramatic setback. The most prominent rate of growth was recorded in 2021 when exports increased by 0.3%.
In value terms, preserved beef exports rose rapidly to $41K in 2022. In general, exports saw a abrupt curtailment.
| Export of Preserved Beef in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 50.6 | 17.0 | 29.1 | 33.3 | -13.0% |
| Mongolia | 2.6 | 2.6 | 1.8 | 2.1 | -6.9% |
| Algeria | 2.1 | 1.1 | 1.0 | 1.1 | -19.4% |
| United States | N/A | 21.0 | 0.7 | N/A | -96.7% |
| Others | 11.5 | 4.0 | 4.4 | 4.8 | -25.3% |
| Total | 66.7 | 45.7 | 37.0 | 41.3 | -14.8% |
Top Export Markets for Preserved Beef from South Korea in 2022:
- China (2958.0 kg)
- Algeria (226.0 kg)
- Mongolia (56.0 kg)
Preserved Beef Imports in South Korea
In 2022, the amount of beef and veal (salted, in brine, dried or smoked) imported into South Korea reduced dramatically to 12 tons, waning by -48.7% compared with 2021. Over the period under review, imports, however, enjoyed noticeable growth. The pace of growth was the most pronounced in 2021 when imports increased by 1,680%. As a result, imports reached the peak of 23 tons, and then reduced dramatically in the following year.
In value terms, preserved beef imports fell sharply to $123K in 2022. In general, imports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2021 when imports increased by 1,161%. As a result, imports attained the peak of $228K, and then declined remarkably in the following year.
| Import of Preserved Beef in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | N/A | N/A | N/A | 123 | 0% |
| Australia | 162 | 15.7 | 8.9 | 0.1 | -91.5% |
| France | N/A | N/A | 108 | N/A | 0% |
| Others | 2.4 | 2.4 | 111 | N/A | 580.1% |
| Total | 165 | 18.1 | 228 | 123 | -9.3% |
Top Suppliers of Preserved Beef to South Korea in 2022:
- Australia (undefined tons)
- Hong Kong SAR (11.6 tons)
This report provides an in-depth analysis of the preserved beef 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 10131200 - Beef and veal salted, in brine, dried or smoked
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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