Republic of Korea - Cereals - 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: Cereal Market 2024
Cereal Market Size in Republic of Korea
In 2022, the South Korean cereal market increased by X% to $X, rising for the fifth year in a row after two years of decline. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.
Cereal Production in Republic of Korea
In value terms, cereal production expanded to $X in 2022 estimated in export price. In general, production continues to indicate a slight slump. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.
The average yield of cereals in South Korea declined modestly to X tons per ha in 2022, with a decrease of X% against the previous year. Overall, the yield, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the yield increased by X%. Over the period under review, the average cereal yield hit record highs at X tons per ha in 2015; however, from 2016 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2022, the cereal harvested area in South Korea fell slightly to X ha, approximately equating 2021 figures. Overall, the harvested area recorded a mild downturn. The most prominent rate of growth was recorded in 2021 when the harvested area increased by X%. The cereal harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.
Looking for Custom Market Insights?
Get the research you need to grow.
Schedule a free 30-minute talk with our expert.
Cereal Exports
Exports from Republic of Korea
In 2022, shipments abroad of cereals increased by X% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports recorded a significant expansion. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.
In value terms, cereal exports soared to $X in 2022. Overall, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.
Exports by Country
Vietnam (X tons) was the main destination for cereal exports from South Korea, with a X% share of total exports. Moreover, cereal exports to Vietnam exceeded the volume sent to the second major destination, the United States (X tons), tenfold. The third position in this ranking was held by Russia (X tons), with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Russia (X% per year).
In value terms, Vietnam ($X) emerged as the key foreign market for cereals exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Russia, with a X% share.
From 2012 to 2022, the average annual growth rate of value to Vietnam stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Russia (X% per year).
Export Prices by Country
In 2022, the average cereal export price amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price showed a abrupt curtailment. The pace of growth was the most pronounced in 2018 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (X%), while the prices for the other major destinations experienced mixed trend patterns.
Cereal Imports
Imports into Republic of Korea
In 2022, overseas purchases of cereals decreased by X% to X tons for the first time since 2017, thus ending a four-year rising trend. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2019 when imports increased by X%. Imports peaked at X tons in 2021, and then contracted slightly in the following year.
In value terms, cereal imports surged to $X in 2022. In general, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2017 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.
Imports by Country
In 2022, Argentina (X tons) constituted the largest cereal supplier to South Korea, accounting for a X% share of total imports. Moreover, cereal imports from Argentina exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was taken by Australia (X tons), with a X% share.
From 2012 to 2022, the average annual growth rate of volume from Argentina stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Australia (X% per year).
In value terms, Argentina ($X), the United States ($X) and Australia ($X) constituted the largest cereal suppliers to South Korea, together comprising X% of total imports.
In terms of the main suppliers, Argentina, with a CAGR of X%, recorded 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
The average cereal import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cereal import price increased by X% against 2020 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per ton) and Romania ($X per ton), while the price for Brazil ($X per ton) and Bulgaria ($X per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the cereal 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 108 - Cereals, nes
- FCL 103 - Mixed grain
- FCL 92 - Quinoa
- FCL 15 - Wheat
- FCL 71 - Rye
- FCL 44 - Barley
- FCL 75 - Oats
- FCL 56 - Maize
- FCL 27 - Rice, paddy
- FCL 83 - Sorghum
- FCL 89 - Buckwheat
- FCL 101 - Canary seed
- FCL 94 - Fonio
- FCL 97 - Triticale
- FCL 79 - Millet
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 cereal market in Asia.
This report provides an in-depth analysis of the cereal market in the U.S..
This report provides an in-depth analysis of the cereal market in China.
This report provides an in-depth analysis of the cereal market in the EU.
This report provides an in-depth analysis of the global cereal market.