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Republic of Korea - Peanut Butter And Prepared Or Preserved Groundnuts - Market Analysis, Forecast, Size, Trends And Insights
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Republic of Korea: Peanut Butter Market Overview 2021

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Peanut Butter Market Size in Republic of Korea

The South Korean peanut butter market soared to $X in 2020, growing by X% against the previous year. Overall, the total consumption indicated strong growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by +X% against 2017 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Peanut Butter Production in Republic of Korea

In value terms, peanut butter production soared to $X in 2020 estimated in export prices. Over the period under review, production recorded a remarkable increase. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Peanut Butter Exports

Exports from Republic of Korea

In 2020, overseas shipments of peanut butter and prepared or preserved groundnuts decreased by -X% to X tonnes, falling for the third year in a row after eleven years of growth. Overall, exports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2008 when exports increased by X% against the previous year. Exports peaked at X tonnes in 2017; however, from 2018 to 2020, exports remained at a lower figure.

In value terms, peanut butter exports shrank significantly to $X in 2020. Over the period under review, exports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2008 with an increase of X% year-to-year. Over the period under review, exports reached the peak figure at $X in 2019, and then shrank dramatically in the following year.

Exports by Country

China (X tonnes), Viet Nam (X tonnes) and Guam (X tonnes) were the main destinations of peanut butter exports from South Korea, together accounting for X% of total exports. These countries were followed by Mongolia, the Philippines, the U.S. and Russia, which together accounted for a further X 2007 to 2020, the biggest increases were in the Philippines, while shipments for the other leaders experienced more modest paces of growth.

In value terms, Viet Nam ($X), Guam ($X) and China ($X) appeared to be the largest markets for peanut butter exported from South Korea worldwide, together comprising X% of total exports. The Philippines, the U.S., Mongolia and Russia lagged somewhat behind, together accounting for a further X Philippines (+X% per year) saw 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

In 2020, the average peanut butter export price amounted to $X per tonne, picking up by X% against the previous year. Overall, the export price showed a resilient expansion. As a result, export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2020, the country with the highest price was Guam ($X per tonne), while the average price for exports to China ($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 the Philippines, while the prices for the other major destinations experienced more modest paces of growth.

Peanut Butter Imports

Imports into Republic of Korea

In 2020, supplies from abroad of peanut butter and prepared or preserved groundnuts decreased by -X% to X tonnes for the first time since 2017, thus ending a two-year rising trend. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of X tonnes. from 2015 to 2020, the growth imports failed to regain the momentum.

In value terms, peanut butter imports expanded notably to $X in 2020. In general, total imports indicated a notable expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2011 with an increase of X% y-o-y. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, China (X tonnes) constituted the largest supplier of peanut butter to South Korea, with a X% share of total imports. Moreover, peanut butter imports from China exceeded the figures recorded by the second-largest supplier, Argentina (X tonnes), ninefold.

From 2007 to 2020, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (+X% per year) and the U.S. (+X% per year).

In value terms, China ($X) constituted the largest supplier of peanut butter to South Korea, comprising X% of total imports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total imports.

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

Import Prices by Country

In 2020, the average peanut butter import price amounted to $X per tonne, surging by X% against the previous year. Over the period under review, import price indicated temperate growth from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 an increase of X% against the previous year. The import price peaked at $X per tonne in 2012; however, from 2013 to 2020, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was the U.S. ($X per tonne), while the price for Argentina ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, 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 peanut butter and prepared or preserved groundnuts in the world?
+
China (974K tonnes) constituted the country with the largest volume of peanut butter consumption, comprising approx. 19% of total volume. Moreover, peanut butter consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (389K tonnes), threefold. The third position in this ranking was occupied by India (350K tonnes), with a 6.8% share.
What are the largest producers of peanut butter and prepared or preserved groundnuts in the world?
+
The country with the largest volume of peanut butter production was China (1.2M tonnes), comprising approx. 24% of total volume. Moreover, peanut butter production in China exceeded the figures recorded by the second-largest producer, the U.S. (418K tonnes), threefold. The third position in this ranking was occupied by India (397K tonnes), with a 7.6% share.
What are the leading suppliers of peanut butter and prepared or preserved groundnuts to Republic of Korea?
+
In value terms, China ($47M) constituted the largest supplier of peanut butter to South Korea, comprising 72% of total imports. The second position in the ranking was occupied by the U.S. ($10M), with a 15% share of total imports.
What are the leading importers of peanut butter and prepared or preserved groundnuts from Republic of Korea?
+
In value terms, Viet Nam ($27K), Guam ($22K) and China ($15K) appeared to be the largest markets for peanut butter exported from South Korea worldwide, together comprising 72% of total exports. The Philippines, the U.S., Mongolia and Russia lagged somewhat behind, together accounting for a further 25%.
What is the average export price for peanut butter and prepared or preserved groundnuts in Republic of Korea?
+
The average peanut butter export price stood at $4,950 per tonne in 2020, jumping by 100% against the previous year.
What is the average import price for peanut butter and prepared or preserved groundnuts in Republic of Korea?
+
The average peanut butter import price stood at $2,042 per tonne in 2020, growing by 10% against the previous year.

Product coverage:
• Prodcom 10392330 - Prepared or preserved groundnuts (including peanut butter, e xcluding by vinegar or acetic acid, frozen, purees and pastes)

This report provides an in-depth analysis of the peanut butter 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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