Republic of Korea - Herrings (Prepared Or Preserved) - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPreserved Herring Price in South Korea - 2022
Contents:
- Preserved Herring Price in South Korea (CIF) - 2022
- Preserved Herring Price in South Korea (FOB) - 2022
- Preserved Herring Imports in South Korea
- Preserved Herring Exports in South Korea
Preserved Herring Price in South Korea (CIF) - 2022
The average preserved herring import price stood at $4,520 per ton in 2022, rising by 2.9% against the previous year. Over the period under review, the import price, however, saw a mild shrinkage. The most prominent rate of growth was recorded in 2016 an increase of 64%. The import price peaked at $5,487 per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($8,170 per ton), while the price for Sweden ($1,356 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.
Preserved Herring Price in South Korea (FOB) - 2022
In 2022, the average preserved herring export price amounted to $2,331 per ton, dropping by -14.3% against the previous year. In general, the export price saw a deep downturn. The most prominent rate of growth was recorded in 2021 an increase of 72% against the previous year. The export price peaked at $4,586 per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.
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 New Zealand ($7,860 per ton), while the average price for exports to Canada ($1,570 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 the United States (+20.4%), while the prices for the other major destinations experienced more modest paces of growth.
Preserved Herring Imports in South Korea
In 2022, approx. 37 tons of herrings (prepared or preserved) were imported into South Korea; picking up by 32% on the year before. Over the period under review, imports posted a significant increase. The pace of growth was the most pronounced in 2020 with an increase of 106% against the previous year. As a result, imports reached the peak of 43 tons. From 2021 to 2022, the growth of imports failed to regain momentum.
In value terms, preserved herring imports soared to $169K in 2022. In general, imports showed strong growth. The growth pace was the most rapid in 2020 with an increase of 88%. As a result, imports reached the peak of $214K. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Preserved Herring in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 51.7 | 84.0 | 92.2 | 127 | 34.9% |
| United States | N/A | N/A | 5.1 | 17.2 | 237.3% |
| Netherlands | 1.5 | 1.9 | 0.8 | 2.2 | 13.6% |
| Russia | N/A | 2.8 | 13.4 | N/A | 378.6% |
| Vietnam | 19.7 | 115 | N/A | N/A | 483.8% |
| Lithuania | 34.1 | N/A | 3.2 | N/A | -69.4% |
| Taiwan (Chinese) | 4.7 | 5.9 | N/A | N/A | 25.5% |
| Others | 1.9 | 4.1 | 10.1 | 23.4 | 130.9% |
| Total | 114 | 214 | 125 | 169 | 14.0% |
Top Suppliers of Preserved Herring to South Korea in 2022:
- Japan (15.5 tons)
- United States (11.2 tons)
- Netherlands (1.4 tons)
Preserved Herring Exports in South Korea
In 2022, overseas shipments of herrings (prepared or preserved) decreased by -24.3% to 11 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2021 with an increase of 94% against the previous year. As a result, the exports reached the peak of 15 tons, and then declined significantly in the following year.
In value terms, preserved herring exports shrank significantly to $26K in 2022. Overall, exports, however, enjoyed a noticeable expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 235% against the previous year. As a result, the exports attained the peak of $40K, and then declined remarkably in the following year.
| Export of Preserved Herring in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | N/A | 11.9 | 26.1 | 23.8 | 41.4% |
| New Zealand | 0.1 | N/A | 0.8 | 1.3 | 135.1% |
| Canada | N/A | N/A | 0.3 | 0.8 | 166.7% |
| Vietnam | N/A | N/A | 3.3 | N/A | 0% |
| Cambodia | N/A | N/A | 3.0 | N/A | 0% |
| Lithuania | 20.5 | N/A | N/A | N/A | 0% |
| Others | 2.1 | 0.1 | 6.3 | N/A | 73.2% |
| Total | 22.6 | 11.9 | 39.9 | 25.9 | 4.6% |
Top Export Markets for Preserved Herring from South Korea in 2022:
- United States (10.5 tons)
- Canada (0.5 tons)
- New Zealand (0.2 tons)
This report provides an in-depth analysis of the preserved herring 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 10202520 - Prepared or preserved herrings, whole or in pieces (excluding minced products and prepared meals and dishes)
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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