Republic of Korea: Articles Of Gut Market 2022

Articles Of Gut Market Size in Republic of Korea

The South Korean articles of gut market contracted to $X in 2021, declining by -X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, enjoyed a remarkable increase. Over the period under review, the market hit record highs at $X in 2020, and then dropped in the following year.

Articles Of Gut Exports

Exports from Republic of Korea

In 2021, articles of gut exports from South Korea soared to X kg, rising by X% compared with the year before. Overall, exports saw a strong increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, articles of gut exports soared to $X in 2021. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

China (X kg), Nicaragua (X kg) and the United States (X kg) were the main destinations of articles of gut exports from South Korea, with a combined X% share of total exports.

From 2012 to 2021, the biggest increases were in Nicaragua (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for articles of gut exports from South Korea, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by Nicaragua, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+X% per year) and Nicaragua (+X% per year).

Export Prices by Country

In 2021, the average articles of gut export price amounted to $X per ton, increasing by X% against the previous year. In general, the export price showed moderate growth. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the United States ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+X%), while the prices for the other major destinations experienced a decline.

Articles Of Gut Imports

Imports into Republic of Korea

For the third consecutive year, South Korea recorded decline in supplies from abroad of articles of gut, goldbeater’s skin, bladders or tendons, which decreased by -X% to X tons in 2021. In general, imports showed a pronounced curtailment. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, articles of gut imports fell to $X in 2021. Over the period under review, imports, however, continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2020, and then reduced in the following year.

Imports by Country

Mexico (X tons), China (X tons) and Taiwan (Chinese) (X kg) were the main suppliers of articles of gut imports to South Korea, together comprising X% of total imports.

From 2012 to 2021, the biggest increases were in Taiwan (Chinese) (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X) constituted the largest supplier of articles of gut to South Korea, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by Brazil, with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Mexico totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and Brazil (+X% per year).

Import Prices by Country

The average articles of gut import price stood at $X per ton in 2021, reducing by -X% against the previous year. Overall, the import price, however, showed strong growth. The pace of growth appeared the most rapid in 2016 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2020, and then reduced in the following year.

Prices varied noticeably countryorigin: the country with the highest price was Brazil ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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