Republic of Korea: Market for Coffee (Decaffeinated or Roasted) 2024

Market Size for Coffee (Decaffeinated or Roasted) in Republic of Korea

The South Korean decaffeinated or roasted coffee market expanded notably to $X in 2022, 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). Over the period under review, consumption showed a prominent increase. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in years to come.

Exports of Coffee (Decaffeinated or Roasted)

Exports from Republic of Korea

In 2022, shipments abroad of coffee (decaffeinated or roasted) increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, exports showed a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, decaffeinated or roasted coffee exports soared to $X in 2022. In general, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Hong Kong SAR (X tons) was the main destination for decaffeinated or roasted coffee exports from South Korea, with a X% share of total exports. Moreover, decaffeinated or roasted coffee exports to Hong Kong SAR exceeded the volume sent to the second major destination, Mongolia (X tons), sevenfold. Malaysia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hong Kong SAR totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mongolia (X% per year) and Malaysia (X% per year).

In value terms, Hong Kong SAR ($X), the United States ($X) and Mongolia ($X) appeared to be the largest markets for decaffeinated or roasted coffee exported from South Korea worldwide, with a combined X% share of total exports. Malaysia, Singapore, China, Taiwan (Chinese) and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

Malaysia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average decaffeinated or roasted coffee export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price, however, recorded a noticeable setback. The pace of growth appeared the most rapid in 2014 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 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Hong Kong SAR ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Coffee (Decaffeinated or Roasted)

Imports into Republic of Korea

In 2022, approx. X tons of coffee (decaffeinated or roasted) were imported into South Korea; surging by X% compared with the previous year. In general, imports posted a prominent increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, decaffeinated or roasted coffee imports totaled $X in 2022. Over the period under review, imports posted a strong increase. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest decaffeinated or roasted coffee supplier to South Korea, with a X% share of total imports. Moreover, decaffeinated or roasted coffee imports from the United States exceeded the figures recorded by the second-largest supplier, Switzerland (X tons), fourfold. Italy (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (X% per year) and Italy (X% per year).

In value terms, the United States ($X), Switzerland ($X) and Italy ($X) constituted the largest decaffeinated or roasted coffee suppliers to South Korea, together comprising X% of total imports. Canada, the UK, Colombia, Malaysia, Vietnam, Germany, Brazil, Spain and Japan lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Vietnam, with a CAGR of X%, saw the highest growth rate of 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 decaffeinated or roasted coffee import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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