Republic of Korea: Candied Fruit Market 2024

Candied Fruit Market Size in Republic of Korea

The South Korean candied fruit market rose markedly to $X in 2022, growing by 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). Overall, consumption, however, saw a pronounced setback. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Candied Fruit Exports

Exports from Republic of Korea

In 2022, the amount of candied fruits exported from South Korea fell sharply to X tons, declining by X% against 2021. Overall, exports, however, showed a modest expansion. The pace of growth was the most pronounced in 2016 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, candied fruit exports declined dramatically to $X in 2022. In general, exports, however, continue to indicate tangible growth. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then contracted markedly in the following year.

Exports by Country

The United States (X tons) was the main destination for candied fruit exports from South Korea, with a X% share of total exports. Moreover, candied fruit exports to the United States exceeded the volume sent to the second major destination, Japan (X tons), threefold. China (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and China (X% per year).

In value terms, the United States ($X) remains the key foreign market for candied fruits exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by China ($X), with an X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Japan (X% per year).

Export Prices by Country

The average candied fruit export price stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price, however, recorded perceptible growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

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 China ($X per ton), while the average price for exports to Vietnam ($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 China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Candied Fruit Imports

Imports into Republic of Korea

In 2022, supplies from abroad of candied fruits decreased by X% to X tons, falling for the third consecutive year after two years of growth. Overall, imports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, candied fruit imports shrank to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest candied fruit supplier to South Korea, accounting for a X% share of total imports. Moreover, candied fruit imports from China exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold. Vietnam (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 China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Vietnam (X% per year).

In value terms, China ($X) constituted the largest supplier of candied fruits to South Korea, comprising X% of total imports. The second position in the ranking was held by Thailand ($X), with a X% share of total imports. It was followed by Vietnam, with an X% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Vietnam (X% per year).

Import Prices by Country

In 2022, the average candied fruit import price amounted to $X per ton, falling by X% against the previous year. In general, the import price, however, showed a resilient increase. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2021, and then declined in the following year.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :