Republic of Korea: Baby Food Market 2024

Baby Food Market Size in Republic of Korea

The South Korean baby food market reduced slightly to $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Baby Food Production in Republic of Korea

In value terms, baby food production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Baby Food Exports

Exports from Republic of Korea

In 2022, exports of food preparations for infants from South Korea declined dramatically to X tons, shrinking by X% on the previous year. Over the period under review, exports saw a perceptible descent. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, baby food exports reduced slightly to $X in 2022. Overall, total exports indicated a notable 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for baby food exports from South Korea, with a X% share of total exports. Moreover, baby food exports to China exceeded the volume sent to the second major destination, Vietnam (X tons), sevenfold. The third position in this ranking was held by Cambodia (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Cambodia (X% per year).

In value terms, China ($X) remains the key foreign market for food preparations for infants exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Vietnam ($X), with a X% share of total exports. It was followed by Cambodia, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and Cambodia (X% per year).

Export Prices by Country

In 2022, the average baby food export price amounted to $X per ton, increasing by X% against the previous year. In general, export price indicated buoyant growth 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, baby food export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2015 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 likely to see gradual growth in years to come.

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

Baby Food Imports

Imports into Republic of Korea

After four years of growth, overseas purchases of food preparations for infants decreased by X% to X tons in 2022. Overall, imports, however, posted resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by X%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, baby food imports reduced to $X in 2022. In general, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2021, and then fell in the following year.

Imports by Country

Germany (X tons), New Zealand (X tons) and France (X tons) were the main suppliers of baby food imports to South Korea, together comprising X% of total imports. Australia, the Netherlands, Ireland, Austria, the United States and Myanmar lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of food preparations for infants to South Korea, comprising X% of total imports. The second position in the ranking was held by New Zealand ($X), with a X% share of total imports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (X% per year) and France (X% per year).

Import Prices by Country

The average baby food import price stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, import price indicated a slight 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, baby food import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2021, and then contracted in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :