Report Update Apr 1, 2024

Republic of Korea - Quinoa - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Quinoa Market 2024

Quinoa Market Size in Republic of Korea

For the third year in a row, the South Korean quinoa market recorded growth in sales value, which increased by X% to $X in 2022. Overall, consumption saw significant growth. Quinoa consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Quinoa Exports

Exports from Republic of Korea

In 2022, approx. X tons of quinoa were exported from South Korea; remaining relatively unchanged against the previous year's figure. In general, exports saw a deep slump. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, quinoa exports totaled $X in 2022. Over the period under review, exports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for quinoa exports from South Korea, with a approx. X% share of total exports.

From 2017 to 2022, the average annual growth rate of volume to the United States totaled X%.

From 2017 to 2022, the average annual rate of growth in terms of value to the United States totaled X%.

Export Prices by Country

The average quinoa export price stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. In general, the export price showed a mild reduction. The most prominent rate of growth was recorded in 2018 a decrease of X%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2017 to 2022, the rate of growth in terms of prices for the United States amounted to X% per year.

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Quinoa Imports

Imports into Republic of Korea

For the third year in a row, South Korea recorded growth in purchases abroad of quinoa, which increased by X% to X tons in 2022. Over the period under review, imports recorded a significant expansion. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, quinoa imports skyrocketed to $X in 2022. Overall, imports saw a significant expansion. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Peru (X tons) constituted the largest quinoa supplier to South Korea, with a X% share of total imports. Moreover, quinoa imports from Peru exceeded the figures recorded by the second-largest supplier, the United States (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume from Peru totaled X%.

In value terms, Peru ($X) and the United States ($X) were the largest quinoa suppliers to South Korea.

The United States, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

In 2022, the average quinoa import price amounted to $X per ton, falling by X% against the previous year. Overall, the import price showed a mild downturn. The growth pace was the most rapid in 2014 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 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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 Peru amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (X%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for quinoa in the world?

The countries with the highest volumes of consumption in 2023 were Peru, Bolivia and the United States, together comprising 60% of global consumption. Spain, Canada, France, China, Germany, Italy, Ecuador and the Netherlands lagged somewhat behind, together accounting for a further 23%.

What are the largest producers of quinoa in the world?

The countries with the highest volumes of production in 2022 were Peru, Bolivia and Spain, with a combined 96% share of global production.

What are the leading suppliers of quinoa to Republic of Korea?

In value terms, Peru and the United States were the largest quinoa suppliers to South Korea.

What is the average export price for quinoa in Republic of Korea?

In 2022, the average quinoa export price amounted to $2,420 per ton, therefore, remained relatively stable against the previous year.

What is the average import price for quinoa in Republic of Korea?

In 2022, the average quinoa import price amounted to $3,028 per ton, dropping by -40.2% against the previous year.

This report provides an in-depth analysis of the quinoa 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 2030.

Product coverage:

FCL 92 - Quinoa

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:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
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. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023