Republic of Korea: Market for Tree, flower and other seeds, fruits and spores for sowing 2024

Market Size for Tree, flower and other seeds, fruits and spores for sowing in Republic of Korea

In 2022, the South Korean market for tree, flower and other seeds, fruits and spores for sowing decreased by X% to $X, falling for the third consecutive year after four years of growth. In general, the total consumption indicated measured growth 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, consumption decreased by X% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Exports of Tree, flower and other seeds, fruits and spores for sowing

Exports from Republic of Korea

In 2022, overseas shipments of tree, flower and other seeds, fruits and spores for sowing decreased by X% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports saw a deep setback. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports of reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of tree, flower and other seeds, fruits and spores for sowing contracted remarkably to $X in 2022. In general, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X kg), China (X kg) and Japan (X kg) were the main destinations of exports of tree, flower and other seeds, fruits and spores for sowing from South Korea, together accounting for X% of total exports. Russia, Spain, India, the Philippines, Uzbekistan and Oman lagged somewhat behind, together accounting for a further X%.

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

In value terms, Spain ($X) remains the key foreign market for tree, flower and other seeds, fruits and spores for sowing exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Russia ($X), with a X% share of total exports. It was followed by China, with a X% share.

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

Export Prices by Country

The average export price for tree, flower and other seeds, fruits and spores for sowing stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price posted a mild expansion. The most prominent rate of growth was recorded in 2018 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 export markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X,000 per ton), while the average price for exports to the United States ($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 Spain (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Tree, flower and other seeds, fruits and spores for sowing

Imports into Republic of Korea

In 2022, after three years of decline, there was significant growth in purchases abroad of tree, flower and other seeds, fruits and spores for sowing, when their volume increased by X% to X tons. Over the period under review, imports, however, recorded a slight decrease. The pace of growth was the most pronounced in 2016 when imports increased by X%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, imports of tree, flower and other seeds, fruits and spores for sowing fell slightly to $X in 2022. Overall, imports saw notable growth. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of tree, flower and other seeds, fruits and spores for sowing to South Korea, with a X% share of total imports. Moreover, imports of tree, flower and other seeds, fruits and spores for sowing from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold.

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

In value terms, the United States ($X) constituted the largest supplier of tree, flower and other seeds, fruits and spores for sowing to South Korea, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Myanmar (X% per year).

Import Prices by Country

In 2022, the average import price for tree, flower and other seeds, fruits and spores for sowing amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price, however, posted a resilient expansion. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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