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Republic of Korea - Cheese - Market Analysis, Forecast, Size, Trends and Insights
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Republic of Korea: Cheese Market Overview 2021

Cheese Market Size in Republic of Korea

The South Korean cheese market reached $X in 2020, with an increase of 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 posted a prominent increase. The most prominent rate of growth was recorded in 2011 when the market value increased by X% y-o-y. Cheese consumption peaked in 2020 and is likely to see gradual growth in the immediate term.

Cheese Exports

Exports from Republic of Korea

In 2020, exports of cheese from South Korea soared to X tonnes, jumping by X% on 2019. In general, exports showed resilient growth. The pace of growth was the most pronounced in 2011 when exports increased by X% against the previous year. Over the period under review, exports reached the peak figure in 2020 and are likely to continue growth in years to come.

In value terms, cheese exports skyrocketed to $X in 2020. Over the period under review, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, exports attained the peak figure in 2020 and are likely to continue growth in the immediate term.

Exports by Country

China (X tonnes), Viet Nam (X tonnes) and Japan (X tonnes) were the main destinations of cheese exports from South Korea, with a combined X% share of total exports.

From 2007 to 2020, the biggest increases were in China (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X) remains the key foreign market for cheese exports from South Korea, comprising X% of total exports. The second position in the ranking was occupied by Viet Nam ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2007 to 2020, the average annual growth rate of value to China totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Viet Nam (+X% per year) and Japan (+X% per year).

Export Prices by Country

The average cheese export price stood at $X per tonne in 2020, growing by X% against the previous year. Over the period under review, the export price posted a pronounced increase. The most prominent rate of growth was recorded in 2012 an increase of X% against the previous year. The export price peaked in 2020 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2020, the country with the highest price was China ($X per tonne), while the average price for exports to Russia ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Viet Nam, while the prices for the other major destinations experienced more modest paces of growth.

Cheese Imports

Imports into Republic of Korea

In 2020, the amount of cheese imported into South Korea expanded remarkably to X tonnes, increasing by X% compared with the year before. Overall, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2011 with an increase of X% y-o-y. Over the period under review, imports attained the peak figure in 2020 and are likely to see steady growth in years to come.

In value terms, cheese imports rose notably to $X in 2020. In general, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Over the period under review, imports hit record highs in 2020 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2020, the U.S. (X tonnes) constituted the largest supplier of cheese to South Korea, with a X% share of total imports. Moreover, cheese imports from the U.S. exceeded the figures recorded by the second-largest supplier, New Zealand (X tonnes), twofold. The third position in this ranking was occupied by Germany (X tonnes), with a X% share.

From 2007 to 2020, the average annual growth rate of volume from the U.S. totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+X% per year) and Germany (+X% per year).

In value terms, the U.S. ($X) constituted the largest supplier of cheese to South Korea, comprising X% of total imports. The second position in the ranking was occupied by New Zealand ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value from the U.S. stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+X% per year) and Germany (+X% per year).

Import Prices by Country

In 2020, the average cheese import price amounted to $X per tonne, approximately reflecting the previous year. Over the last thirteen-year period, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2008 when the average import price increased by X% year-to-year. The import price peaked at $X per tonne in 2014; however, from 2015 to 2020, import prices failed to regain the momentum.

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

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by New Zealand, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cheese in the world?
+
The U.S. (6.4M tonnes) constituted the country with the largest volume of cheese consumption, accounting for 26% of total volume. Moreover, cheese consumption in the U.S. exceeded the figures recorded by the second-largest consumer, Germany (2.1M tonnes), threefold. France (1.5M tonnes) ranked third in terms of total consumption with a 6% share.
What are the largest producers of cheese in the world?
+
The U.S. (6.7M tonnes) constituted the country with the largest volume of cheese production, accounting for 27% of total volume. Moreover, cheese production in the U.S. exceeded the figures recorded by the second-largest producer, Germany (2.5M tonnes), threefold. The third position in this ranking was occupied by France (1.7M tonnes), with a 7% share.
What are the leading suppliers of cheese to Republic of Korea?
+
In value terms, the U.S. ($259M) constituted the largest supplier of cheese to South Korea, comprising 41% of total imports. The second position in the ranking was occupied by New Zealand ($103M), with a 16% share of total imports. It was followed by Germany, with a 8.7% share.
What are the leading importers of cheese from Republic of Korea?
+
In value terms, China ($2.7M) remains the key foreign market for cheese exports from South Korea, comprising 45% of total exports. The second position in the ranking was occupied by Viet Nam ($1.1M), with a 19% share of total exports. It was followed by Japan, with a 14% share.
What is the average export price for cheese in Republic of Korea?
+
In 2020, the average cheese export price amounted to $7,725 per tonne, picking up by 11% against the previous year.
What is the average import price for cheese in Republic of Korea?
+
In 2020, the average cheese import price amounted to $4,250 per tonne, approximately mirroring the previous year.

Product coverage:
• FCL 901 - Cheese from Whole Cow Milk
• FCL 904 - Cheese from Skimmed Cow Milk
• FCL 905 - Whey Cheese
• FCL 907 - Processed Cheese
• FCL 955 - Cheese of Buffalo Milk
• FCL 984 - Cheese of Sheep Milk
• FCL 1021 - Cheese of Goat Milk

This report provides an in-depth analysis of the cheese 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
TOP EXPORTING COUNTRIES
5.4
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 VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2020
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2020
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 2020
Table 2:
Market Volume, In Physical Terms, 2007–2020
Table 3:
Market Value, 2007–2020
Table 4:
Per Capita Consumption In 2007–2020
Table 5:
Imports, In Physical Terms, By Country, 2007–2020
Table 6:
Imports, In Value Terms, By Country, 2007–2020
Table 7:
Import Prices, By Country Of Origin, 2007–2020
Table 8:
Exports, In Physical Terms, By Country, 2007–2020
Table 9:
Exports, In Value Terms, By Country, 2007–2020
Table 10:
Export Prices, By Country Of Destination, 2007–2020
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2020
Figure 2:
Market Value, 2007–2020
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2020
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2020
Figure 5:
Trade Balance, In Physical Terms, 2007–2020
Figure 6:
Trade Balance, In Value Terms, 2007–2020
Figure 7:
Per Capita Consumption, 2007–2020
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:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2020
Figure 21:
Production, In Value Terms, 2007–2020
Figure 22:
Imports, In Physical Terms, 2007–2020
Figure 23:
Imports, In Value Terms, 2007–2020
Figure 24:
Imports, In Physical Terms, By Country, 2020
Figure 25:
Imports, In Physical Terms, By Country, 2007–2020
Figure 26:
Imports, In Value Terms, By Country, 2007–2020
Figure 27:
Import Prices, By Country Of Origin, 2007–2020
Figure 28:
Exports, In Physical Terms, 2007–2020
Figure 29:
Exports, In Value Terms, 2007–2020
Figure 30:
Exports, In Physical Terms, By Country, 2020
Figure 31:
Exports, In Physical Terms, By Country, 2007–2020
Figure 32:
Exports, In Value Terms, By Country, 2007–2020
Figure 33:
Export Prices, By Country Of Destination, 2007–2020

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