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Republic of Korea - Sesame Oil - Market Analysis, Forecast, Size, Trends and Insights
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Republic of Korea: Sesame Oil Market Overview 2021

Sesame Oil Market Size in Republic of Korea

In 2020, the South Korean sesame oil market increased by X% to $X, rising for the second consecutive year after three years of decline. Overall, the total consumption indicated a strong 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, consumption increased by +X% against 2018 indices. The most prominent rate of growth was recorded in 2008 when the market value increased by X% year-to-year. Sesame oil consumption peaked at $X in 2015; however, from 2016 to 2020, consumption remained at a lower figure.

Sesame Oil Production in Republic of Korea

In value terms, sesame oil production rose notably to $X in 2020 estimated in export prices. In general, the total production indicated a remarkable increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production increased by +X% against 2018 indices. The pace of growth was the most pronounced in 2008 with an increase of X% year-to-year. Sesame oil production peaked at $X in 2015; however, from 2016 to 2020, production remained at a lower figure.

Sesame Oil Exports

Exports from Republic of Korea

In 2020, shipments abroad of sesame oil increased by X% to X tonnes, rising for the fifth consecutive year after two years of decline. Overall, exports posted a prominent increase. The pace of growth appeared the most rapid in 2012 with an increase of X% y-o-y. Over the period under review, exports attained the peak figure in 2020 and are likely to see gradual growth in the immediate term.

In value terms, sesame oil exports skyrocketed to $X in 2020. In general, exports posted a resilient increase. The growth pace was the most rapid in 2012 when exports increased by X% y-o-y. Over the period under review, exports hit record highs in 2020 and are expected to retain growth in the immediate term.

Exports by Country

The U.S. (X tonnes) was the main destination for sesame oil exports from South Korea, with a X% share of total exports. Moreover, sesame oil exports to the U.S. exceeded the volume sent to the second major destination, Australia (X tonnes), sixfold. The third position in this ranking was occupied by Canada (X tonnes), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to the U.S. amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+X% per year) and Canada (+X% per year).

In value terms, the U.S. ($X) remains the key foreign market for sesame oil exports from South Korea, comprising X% of total exports. The second position in the ranking was occupied by Australia ($X), with a X% share of total exports. It was followed by Canada, with a X% share.

From 2007 to 2020, the average annual growth rate of value to the U.S. stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+X% per year) and Canada (+X% per year).

Export Prices by Country

In 2020, the average sesame oil export price amounted to $X per tonne, reducing by -X% against the previous year. Over the last thirteen-year period, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2010 an increase of X% year-to-year. Over the period under review, average export prices reached the peak figure at $X per tonne in 2015; however, from 2016 to 2020, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Mongolia ($X per tonne), while the average price for exports to Canada ($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 Viet Nam, while the prices for the other major destinations experienced more modest paces of growth.

Sesame Oil Imports

Imports into Republic of Korea

In 2020, approx. X tonnes of sesame oil were imported into South Korea; rising by X% against 2019 figures. In general, imports saw notable growth. The growth pace was the most rapid in 2010 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tonnes in 2011; however, from 2012 to 2020, imports failed to regain the momentum.

In value terms, sesame oil imports soared to $X in 2020. Overall, imports continue to indicate strong growth. The pace of growth appeared the most rapid in 2010 when imports increased by X% year-to-year. Imports peaked at $X in 2013; however, from 2014 to 2020, imports stood at a somewhat lower figure.

Imports by Country

Viet Nam (X tonnes), China (X tonnes) and Mexico (X tonnes) were the main suppliers of sesame oil imports to South Korea, with a combined X% share of total imports.

From 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (+X% per year), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest sesame oil suppliers to South Korea were Viet Nam ($X), China ($X) and Mexico ($X), with a combined X% share of total imports.

Mexico (+X% per year) saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average sesame oil import price amounted to $X per tonne, with a decrease of -X% against the previous year. In general, import price indicated a tangible increase 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 growth pace was the most rapid in 2013 when the average import price increased by X% against the previous year. The import price peaked at $X per tonne in 2015; however, from 2016 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 Mexico ($X per tonne), while the price for Viet Nam ($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 a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for sesame oil in the world?
+
The countries with the highest volumes of sesame oil consumption in 2020 were China (301K tonnes), Myanmar (153K tonnes) and India (73K tonnes), together comprising 51% of global consumption. Sudan, Japan, Uganda, Turkey, South Korea, Saudi Arabia, Mexico, Iran, Tanzania and the U.S. lagged somewhat behind, together accounting for a further 31%.
What are the largest producers of sesame oil in the world?
+
The country with the largest volume of sesame oil production was China (306K tonnes), comprising approx. 30% of total volume. Moreover, sesame oil production in China exceeded the figures recorded by the second-largest producer, Myanmar (153K tonnes), twofold. The third position in this ranking was occupied by India (83K tonnes), with a 8.2% share.
What are the leading suppliers of sesame oil to Republic of Korea?
+
In value terms, the largest sesame oil suppliers to South Korea were Viet Nam ($1.1M), China ($1M) and Mexico ($213K), together accounting for 94% of total imports.
What are the leading importers of sesame oil from Republic of Korea?
+
In value terms, the U.S. ($3.2M) remains the key foreign market for sesame oil exports from South Korea, comprising 38% of total exports. The second position in the ranking was occupied by Australia ($681K), with a 8.3% share of total exports. It was followed by Canada, with a 5% share.
What is the average export price for sesame oil in Republic of Korea?
+
The average sesame oil export price stood at $8,508 per tonne in 2020, declining by -1.9% against the previous year.
What is the average import price for sesame oil in Republic of Korea?
+
In 2020, the average sesame oil import price amounted to $3,449 per tonne, waning by -15.6% against the previous year.

Product coverage:
• FCL 290 - Oil of Sesame Seed

This report provides an in-depth analysis of the sesame oil 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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