Republic of Korea - Turkey Meat - Market Analysis, Forecast, Size, Trends And Insights
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View PricingTurkey Meat Price in South Korea - 2022
Contents:
- Turkey Meat Price in South Korea (CIF) - 2022
- Turkey Meat Price in South Korea (FOB) - 2022
- Turkey Meat Imports in South Korea
- Turkey Meat Exports in South Korea
Turkey Meat Price in South Korea (CIF) - 2022
In 2022, the average turkey meat import price amounted to $3,813 per ton, jumping by 27% against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when the average import price increased by 45%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($5,647 per ton), while the price for the United States ($3,022 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Turkey Meat Price in South Korea (FOB) - 2022
The average turkey meat export price stood at $4,371 per ton in 2022, stabilizing at the previous year. Over the period under review, the export price recorded a abrupt contraction. Over the period under review, the average export prices hit record highs at $7,447 per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Vietnam.
From 2016 to 2022, the rate of growth in terms of prices for Vietnam amounted to -0.5% per year.
Turkey Meat Imports in South Korea
For the third year in a row, South Korea recorded decline in supplies from abroad of turkey meat, which decreased by -23.3% to 813 tons in 2022. In general, imports showed a abrupt curtailment. The smallest decline of -6.4% was in 2021.
In value terms, turkey meat imports shrank modestly to $3.1M in 2022. Over the period under review, imports faced a abrupt decrease.
| Import of Turkey Meat in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Chile | 3.3 | 2.1 | 2.3 | 2.5 | -8.8% |
| United States | 0.9 | 1.1 | 0.6 | 0.5 | -17.8% |
| Australia | 0.1 | N/A | 0.2 | 0.1 | 0.0% |
| Hungary | 0.5 | 0.1 | N/A | N/A | -80.0% |
| Others | 0.1 | N/A | 0.1 | N/A | 0.0% |
| Total | 4.9 | 3.4 | 3.2 | 3.1 | -14.2% |
Top Suppliers of Turkey Meat to South Korea in 2022:
- Chile (630.8 tons)
- United States (165.4 tons)
- Australia (17.0 tons)
Turkey Meat Exports in South Korea
In 2022, the amount of turkey meat exported from South Korea fell notably to 116 kg, with a decrease of -49.8% against the previous year's figure. Over the period under review, exports faced a precipitous shrinkage.
In value terms, turkey meat exports fell notably to $507 in 2022. In general, exports faced a sharp slump.
| Export of Turkey Meat in South Korea (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2021 | 2022 | CAGR, 2021-2022 | ||
| Vietnam | 1,010 | 507 | -49.8% | ||
| Others | 4.0 | N/A | 0% | ||
| Total | 1,014 | 507 | -50.0% | ||
Top Export Markets for Turkey Meat from South Korea in 2022:
- Vietnam (116.0 kg)
This report provides an in-depth analysis of the turkey meat 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:
- FCL 1080 - Turkey meat
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
- COUNTRIES WITH TOP YIELDS
- 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, PRODUCING ANIMALS AND YIELD
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
- Yield 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
- Producing Animals Slaughtered, 2012–2023
- Yield, 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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In 2019, the global turkey meat market increased by 3.5% to $12.8B, rising for the second consecutive year after two...
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The global turkey meat market revenue amounted to $544M in 2017, dropping by -11.8% against the previous year. This figure...
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