Republic of Korea - Refined Sunflower-Seed and Safflower Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Market for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified 2024
Market Size for Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in Republic of Korea
The South Korean market for sunflower-seed or safflower oil, refined, but not chemically modified dropped to $X in 2022, declining by X% against the previous year. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.
Production of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified in Republic of Korea
In value terms, production of sunflower-seed or safflower oil, refined, but not chemically modified reduced to $X in 2022 estimated in export price. In general, production recorded a slight reduction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Production of peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.
Exports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified
Exports from Republic of Korea
In 2022, shipments abroad of sunflower-seed or safflower oil, refined, but not chemically modified increased by X% to X tons, rising for the third consecutive year after two years of decline. In general, exports, however, continue to indicate a noticeable decrease. The pace of growth appeared the most rapid in 2016 with an increase of X%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.
In value terms, exports of sunflower-seed or safflower oil, refined, but not chemically modified rose slightly to $X in 2022. Overall, exports continue to indicate notable growth. The most prominent rate of growth was recorded in 2016 when exports increased by X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.
Exports by Country
China (X tons) was the main destination for exports of sunflower-seed or safflower oil, refined, but not chemically modified from South Korea, with a X% share of total exports. Moreover, exports of sunflower-seed or safflower oil, refined, but not chemically modified to China exceeded the volume sent to the second major destination, Vietnam (X tons), sixfold. The United States (X tons) ranked third in terms of total exports with an X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (X% per year) and the United States (X% per year).
In value terms, China ($X) remains the key foreign market for sunflower-seed or safflower oil, refined, but not chemically modified exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Vietnam, with a 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: the United States (X% per year) and Vietnam (X% per year).
Export Prices by Country
In 2022, the average export price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, reducing by X% against the previous year. In general, the export price, however, showed prominent growth. The pace of growth appeared the most rapid in 2013 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then declined rapidly in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Ghana ($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 the United States (X%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Sunflower-Seed Or Safflower Oil, Refined, But Not Chemically Modified
Imports into Republic of Korea
In 2022, after four years of growth, there was decline in supplies from abroad of sunflower-seed or safflower oil, refined, but not chemically modified, when their volume decreased by X% to X tons. Over the period under review, imports, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2019 with an increase of X%. Imports peaked at X tons in 2021, and then shrank in the following year.
In value terms, imports of sunflower-seed or safflower oil, refined, but not chemically modified soared to $X in 2022. Overall, imports, however, showed resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
Imports by Country
Ukraine (X tons), Spain (X tons) and Argentina (X tons) were the main suppliers of imports of sunflower-seed or safflower oil, refined, but not chemically modified to South Korea, with a combined X% share of total imports. Turkey, Russia, Hungary, the United States, Italy and Malaysia lagged somewhat behind, together comprising a further X%.
From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Ukraine ($X), Spain ($X) and Argentina ($X) appeared to be the largest sunflower-seed or safflower oil, refined, but not chemically modified suppliers to South Korea, with a combined X% share of total imports. Turkey, the United States, Hungary, Russia, Italy and Malaysia lagged somewhat behind, together comprising a further X%.
Among the main suppliers, Hungary, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2022, the average import price for sunflower-seed or safflower oil, refined, but not chemically modified amounted to $X per ton, rising by X% against the previous year. Over the period under review, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for sunflower-seed or safflower oil, refined, but not chemically modified increased by X% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced more modest paces of growth.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for sunflower-seed or safflower oil, refined, but not chemically modified 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:
- Prodcom 10415400 - Refined sunflower-seed and safflower oil and their fractions (excluding chemically modified)
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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