Republic of Korea - Buckwheat - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingRepublic of Korea: Buckwheat Market 2024
Buckwheat Market Size in Republic of Korea
In 2022, the South Korean buckwheat market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, the total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.
Buckwheat Production in Republic of Korea
In value terms, buckwheat production dropped to $X in 2022 estimated in export price. Overall, production continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.
In 2022, the average yield of buckwheat in South Korea expanded modestly to X kg per ha, surging by X% compared with the year before. Over the period under review, the yield indicated a slight increase from 2012 to 2022: its figure increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, buckwheat yield decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2018 when the yield increased by X%. Over the period under review, the average buckwheat yield hit record highs at X tons per ha in 2019; however, from 2020 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2022, the total area harvested in terms of buckwheat production in South Korea contracted slightly to X ha, which is down by X% compared with the previous year's figure. In general, the harvested area continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2015 when the harvested area increased by X%. Over the period under review, the harvested area dedicated to buckwheat production reached the maximum at X ha in 2016; however, from 2017 to 2022, the harvested area stood at a somewhat lower figure.
Buckwheat Exports
Exports from Republic of Korea
In 2022, after three years of decline, there was significant growth in overseas shipments of buckwheat, when their volume increased by X% to X kg. Over the period under review, exports recorded perceptible growth. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.
In value terms, buckwheat exports soared to $X in 2022. Overall, exports saw a resilient expansion. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.
Exports by Country
The United States (X kg) was the main destination for buckwheat exports from South Korea, accounting for a approx. X% share of total exports.
From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest.
From 2012 to 2022, the average annual growth rate of value to the United States was relatively modest.
Export Prices by Country
The average buckwheat export price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.
As there is only one major export destination, the average price level is determined by prices for the United States.
From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to X% per year.
Buckwheat Imports
Imports into Republic of Korea
For the third year in a row, South Korea recorded growth in supplies from abroad of buckwheat, which increased by X% to X tons in 2022. Over the period under review, total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.
In value terms, buckwheat imports surged to $X in 2022. In general, imports enjoyed prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.
Imports by Country
China (X tons), the United States (X tons) and Poland (X tons) were the main suppliers of buckwheat imports to South Korea, together accounting for X% of total imports. Latvia and Mongolia lagged somewhat behind, together accounting for a further X%.
From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of X,116.7%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest buckwheat suppliers to South Korea were China ($X), Poland ($X) and the United States ($X), with a combined X% share of total imports. Latvia and Mongolia lagged somewhat behind, together comprising a further X%.
Among the main suppliers, Latvia, with a CAGR of X.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2022, the average buckwheat import price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the import price posted buoyant growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Mongolia ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the buckwheat 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 89 - Buckwheat
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.
-
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
-
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
-
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
-
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
-
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, HARVESTED AREA 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
-
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
-
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
- Area Harvested, 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
Recommended reports
This report provides an in-depth analysis of the buckwheat market in Asia.
This report provides an in-depth analysis of the buckwheat market in the U.S..
This report provides an in-depth analysis of the buckwheat market in China.
This report provides an in-depth analysis of the buckwheat market in the EU.
This report provides an in-depth analysis of the global buckwheat market.