Republic of Korea - Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Meat and Fish Extracts in South Korea - 2022
Contents:
- Price for Meat and Fish Extracts in South Korea (CIF) - 2022
- Price for Meat and Fish Extracts in South Korea (FOB) - 2022
- Imports of Meat and Fish Extracts in South Korea
- Exports of Meat and Fish Extracts in South Korea
Price for Meat and Fish Extracts in South Korea (CIF) - 2022
The average meat and fish extracts import price stood at $4,398 per ton in December 2022, approximately equating the previous month. Overall, the import price, however, showed a pronounced expansion. The pace of growth was the most pronounced in April 2022 an increase of 100% m-o-m. The import price peaked at $4,428 per ton in November 2022, and then contracted slightly in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($5,812 per ton), while the price for Vietnam ($245 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 China (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Meat and Fish Extracts in South Korea (FOB) - 2022
The average meat and fish extracts export price stood at $3,800 per ton in December 2022, dropping by -8.8% against the previous month. Overall, export price indicated a tangible expansion from December 2021 to December 2022: its price increased at an average monthly rate of +3.3% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on December 2022 figures, meat and fish extracts export price decreased by +0.8% against October 2022 indices. The pace of growth was the most pronounced in January 2022 an increase of 38% against the previous month. The export price peaked at $5,350 per ton in September 2022; however, from October 2022 to December 2022, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($7,467 per ton), while the average price for exports to Indonesia ($955 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 United States (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Meat and Fish Extracts in South Korea
In 2022, after three years of growth, there was decline in supplies from abroad of extracts and juices of meat, fish, crustaceans and molluscs, when their volume decreased by -0.7% to 15K tons. The total import volume increased at an average annual rate of +9.2% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 28%.
In value terms, meat and fish extracts imports fell to $26M in 2022. The total import value increased at an average annual rate of +6.8% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 20% against the previous year. As a result, imports attained the peak of $29M, and then contracted in the following year.
| Import of Meat and Fish Extracts in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 4.9 | 5.1 | 6.4 | 8.6 | 20.6% |
| New Zealand | 6.2 | 6.7 | 6.7 | 6.1 | -0.5% |
| Vietnam | 4.0 | 3.6 | 3.7 | 4.3 | 2.4% |
| Thailand | 1.9 | 2.1 | 2.2 | 2.6 | 11.0% |
| China | 1.7 | 1.7 | 1.3 | 1.7 | 0.0% |
| Mongolia | 0.4 | 0.3 | 0.6 | 0.6 | 14.5% |
| Others | 2.4 | 4.4 | 7.9 | 2.3 | -1.4% |
| Total | 21.6 | 23.9 | 28.7 | 26.3 | 6.8% |
Top Suppliers of Meat and Fish Extracts to South Korea in 2022:
- Vietnam (7.0K tons)
- Australia (2.6K tons)
- Thailand (2.1K tons)
- New Zealand (1.2K tons)
- China (1.0K tons)
- Mongolia (0.5K tons)
Exports of Meat and Fish Extracts in South Korea
In 2022, exports of extracts and juices of meat, fish, crustaceans and molluscs from South Korea rose rapidly to 3K tons, increasing by 5.5% on the previous year. The total export volume increased at an average annual rate of +9.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when exports increased by 38%. As a result, the exports attained the peak of 3.1K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, meat and fish extracts exports amounted to $9.7M in 2022. The total export value increased at an average annual rate of +12.5% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 43%. As a result, the exports attained the peak of $9.7M; afterwards, it flattened through to 2022.
| Export of Meat and Fish Extracts in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 3,892 | 4,053 | 3,933 | 4,130 | 2.0% |
| China | 348 | 763 | 615 | 1,252 | 53.2% |
| Hong Kong SAR | 238 | 281 | 220 | 680 | 41.9% |
| United States | 749 | 2,972 | 2,863 | 564 | -9.0% |
| Indonesia | 253 | 271 | 229 | 492 | 24.8% |
| India | 203 | 201 | 211 | 429 | 28.3% |
| Taiwan (Chinese) | 63.0 | 114 | 169 | 345 | 76.3% |
| France | 350 | 172 | 166 | 336 | -1.4% |
| Canada | 67.3 | 132 | 101 | 186 | 40.3% |
| Vietnam | 79.0 | 113 | 90.9 | 185 | 32.8% |
| Singapore | 19.3 | 76.9 | 80.2 | 163 | 103.6% |
| Philippines | 61.3 | 69.9 | 49.9 | 112 | 22.3% |
| New Zealand | 104 | 26.8 | 47.2 | 107 | 1.0% |
| Others | 395 | 496 | 889 | 723 | 22.3% |
| Total | 6,822 | 9,742 | 9,664 | 9,703 | 12.5% |
Top Export Markets for Meat and Fish Extracts from South Korea in 2022:
- China (797.8 tons)
- Japan (597.8 tons)
- Indonesia (415.6 tons)
- Vietnam (185.0 tons)
- India (119.1 tons)
- Hong Kong SAR (111.6 tons)
- Taiwan (Chinese) (109.6 tons)
- United States (101.8 tons)
- France (95.2 tons)
- Canada (62.6 tons)
- New Zealand (58.1 tons)
- Singapore (56.5 tons)
- Philippines (50.3 tons)
This report provides an in-depth analysis of the market for meat and fish extracts 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 10891400 - Extracts and juices of meat, fish, crustaceans, molluscs or other aquatic invertebrates
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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