Latest Report Update: Jan 17, 2020

Republic of Korea - Beef (Cattle Meat) - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact

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Republic of Korea: Beef Market Overview 2020

Beef Market Size in Republic of Korea

The revenue of the beef market in South Korea amounted to $X in 2018, growing by X% against the previous year. In general, beef consumption continues to indicate strong growth. The pace of growth was the most pronounced in 2011 when the market value increased by X% year-to-year. Beef consumption peaked in 2018 and is expected to retain its growth in the immediate term.

Beef Production in Republic of Korea

In value terms, beef production amounted to $X in 2018 estimated in export prices. Over the period under review, beef production continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2011 when production volume increased by X% y-o-y. Beef production peaked in 2018 and is likely to continue its growth in the near future.

In 2018, the average beef yield in South Korea totaled X kg per head, remaining constant against the previous year. Over the period under review, the beef yield continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2009 with an increase of X% against the previous year. Over the period under review, the average beef yield attained its maximum level at X kg per head in 2010; however, from 2011 to 2018, yield stood at a somewhat lower figure.

In 2018, the number of animals slaughtered for beef production in South Korea stood at X heads, going up by X% against the previous year. This number increased at an average annual rate of +X% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. Number of animals slaughtered for beef production peaked at X heads in 2013; however, from 2014 to 2018, producing animals stood at a somewhat lower figure.

Beef Exports

Exports from Republic of Korea

Beef exports from South Korea stood at X tonnes in 2018, reducing by -X% against the previous year. In general, beef exports continue to indicate a slight deduction. The most prominent rate of growth was recorded in 2011 when exports increased by X% year-to-year. Over the period under review, beef exports reached their peak figure at X tonnes in 2015; however, from 2016 to 2018, exports remained at a lower figure.

In value terms, beef exports amounted to $X in 2018. In general, beef exports continue to indicate a significant increase. The growth pace was the most rapid in 2011 with an increase of X% y-o-y. Over the period under review, beef exports reached their peak figure at $X in 2015; however, from 2016 to 2018, exports remained at a lower figure.

Exports by Country

China (X tonnes), Egypt (X tonnes) and Viet Nam (X tonnes) were the main destinations of beef exports from South Korea, together accounting for X% of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main countries of destination, was attained by Egypt, while exports for the other leaders experienced a decline.

In value terms, the largest markets for beef exported from South Korea were China ($X), Egypt ($X) and Viet Nam ($X), together comprising X% of total exports.

Egypt recorded the highest rates of growth with regard to market size, in terms of the main countries of destination over the period under review, while exports for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the average beef export price amounted to $X per tonne, increasing by X% against the previous year. In general, the export price indicated a buoyant increase from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, beef export price increased by +X% against 2008 indices. The pace of growth was the most pronounced in 2011 an increase of X% y-o-y. Over the period under review, the average export prices for beef (cattle meat) attained their peak figure in 2018 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was Viet Nam ($X per tonne), while the average price for exports to the U.S. ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Egypt, while the prices for the other major destinations experienced more modest paces of growth.

Beef Imports

Imports into Republic of Korea

In 2018, the imports of beef (cattle meat) into South Korea totaled X tonnes, jumping by X% against the previous year. In general, the total imports indicated a remarkable increase from 2007 to 2018: its volume increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, beef imports increased by +X% against 2011 indices. The pace of growth was the most pronounced in 2016 when imports increased by X% y-o-y. Over the period under review, beef imports reached their peak figure in 2018 and are expected to retain its growth in the immediate term.

In value terms, beef imports totaled $X in 2018. Overall, beef imports continue to indicate a remarkable expansion. The growth pace was the most rapid in 2011 when imports increased by X% y-o-y. Over the period under review, beef imports reached their maximum in 2018 and are likely to see steady growth in the immediate term.

Imports by Country

Australia (X tonnes), the U.S. (X tonnes) and New Zealand (X tonnes) were the main suppliers of beef imports to South Korea.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by the U.S., while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest beef suppliers to South Korea were the U.S. ($X), Australia ($X) and New Zealand ($X terms of the main suppliers, the U.S. experienced the highest growth rate of market size, over the period under review, while imports for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average beef import price stood at $X per tonne in 2018, increasing by X% against the previous year. Over the period under review, the import price indicated a noticeable expansion from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, beef import price increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2011 when the average import price increased by X% year-to-year. The import price peaked in 2018 and is likely to continue its growth in the immediate term.

Prices varied noticeably by the country of origin; the country with the highest price was the U.S. ($X per tonne), while the price for New Zealand ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the U.S., while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Product coverage:
• FCL 947 - Buffalo meat
• FCL 867 - Meat of cattle

This report provides an in-depth analysis of the 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 2025.


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:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. 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.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION, PRODUCING ANIMALS AND YIELD
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2019
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2019
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2019
Table 2:
Market Volume, In Physical Terms, 2007–2019
Table 3:
Market Value, 2007–2019
Table 4:
Per Capita Consumption In 2007–2019
Table 5:
Imports, In Physical Terms, By Country, 2007–2019
Table 6:
Imports, In Value Terms, By Country, 2007–2019
Table 7:
Import Prices, By Country Of Origin, 2007–2019
Table 8:
Exports, In Physical Terms, By Country, 2007–2019
Table 9:
Exports, In Value Terms, By Country, 2007–2019
Table 10:
Export Prices, By Country Of Destination, 2007–2019
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2019
Figure 2:
Market Value, 2007–2019
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2019
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2019
Figure 5:
Trade Balance, In Physical Terms, 2007–2019
Figure 6:
Trade Balance, In Value Terms, 2007–2019
Figure 7:
Per Capita Consumption, 2007–2019
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Yield And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2007–2019
Figure 22:
Production, In Value Terms, 2007–2019
Figure 23:
Producing Animals Slaughtered, 2007–2019
Figure 24:
Yield, 2007–2019
Figure 25:
Imports, In Physical Terms, 2007–2019
Figure 26:
Imports, In Value Terms, 2007–2019
Figure 27:
Imports, In Physical Terms, By Country, 2019
Figure 28:
Imports, In Physical Terms, By Country, 2007–2019
Figure 29:
Imports, In Value Terms, By Country, 2007–2019
Figure 30:
Import Prices, By Country Of Origin, 2007–2019
Figure 31:
Exports, In Physical Terms, 2007–2019
Figure 32:
Exports, In Value Terms, 2007–2019
Figure 33:
Exports, In Physical Terms, By Country, 2019
Figure 34:
Exports, In Physical Terms, By Country, 2007–2019
Figure 35:
Exports, In Value Terms, By Country, 2007–2019
Figure 36:
Export Prices, By Country Of Destination, 2007–2019

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