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

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Spinach Market Size in Republic of Korea

In 2020, after three years of growth, there was significant decline in the South Korean spinach market, when its value decreased by -X% to $X. Over the period under review, the total consumption indicated a modest expansion from 2007 to 2020: its value decreased 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, consumption increased by +X% against 2016 indices. The most prominent rate of growth was recorded in 2019 when the market value increased by X% year-to-year. As a result, consumption reached the peak level of $X, and then contracted significantly in the following year.

Spinach Production in Republic of Korea

In value terms, spinach production fell notably to $X in 2020 estimated in export prices. Overall, production posted a temperate expansion. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Spinach production peaked at $X in 2019, and then shrank dramatically in the following year.

In 2020, the average yield of spinach in South Korea contracted modestly to X tonnes per ha, flattening at 2019. In general, the yield recorded a relatively flat trend pattern. The growth pace was the most rapid in 2009 with an increase of X% against the previous year. The spinach yield peaked at X tonnes per ha in 2010; however, from 2011 to 2020, the yield failed to regain the momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2020, approx. X ha of spinach were harvested in South Korea; flattening at the previous year. Over the period under review, the harvested area recorded a relatively flat trend pattern. The growth pace was the most rapid in 2011 with an increase of X% y-o-y. As a result, the harvested area attained the peak level of X ha. From 2012 to 2020, the growth of the spinach harvested area remained at a lower figure.

Spinach Exports

Exports from Republic of Korea

In 2020, spinach exports from South Korea surged to X tonnes, rising by X% against the previous year's figure. Over the period under review, exports enjoyed a strong expansion. The pace of growth was the most pronounced in 2009 when exports increased by X% year-to-year. Over the period under review, exports hit record highs at X tonnes in 2010; however, from 2011 to 2020, exports failed to regain the momentum.

In value terms, spinach exports soared to $X in 2020. In general, exports enjoyed a strong expansion. The growth pace was the most rapid in 2010 with an increase of X% against the previous year. Exports peaked in 2020 and are expected to retain growth in years to come.

Exports by Country

Hong Kong SAR (X tonnes), Northern Mariana Islands (X tonnes) and Marshall Islands (X kg) were the main destinations of spinach exports from South Korea, with a combined X% share of total exports. These countries were followed by Spain, Malaysia, Guam and Canada, which together accounted for a further X 2007 to 2020, the biggest increases were in Spain (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for spinach exported from South Korea were Hong Kong SAR ($X), Northern Mariana Islands ($X) and Spain ($X), with a combined X% share of total exports.

Spain (+X% per year) recorded the highest growth rate of the value of exports, among 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

The average spinach export price stood at $X per tonne in 2020, which is down by -X% against the previous year. Over the period under review, the export price, however, saw measured growth. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. The export price peaked at $X per tonne in 2019, and then contracted slightly in the following year.

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

Spinach Imports

Imports into Republic of Korea

Spinach imports into South Korea skyrocketed to X kg in 2020, rising by X% against the previous year's figure. Over the period under review, imports, however, saw a dramatic setback. The most prominent rate of growth was recorded in 2016 with an increase of X% year-to-year. Imports peaked at X tonnes in 2007; however, from 2008 to 2020, imports remained at a lower figure.

In value terms, spinach imports soared to $X in 2020. Overall, imports, however, faced a sharp curtailment. The growth pace was the most rapid in 2016 when imports increased by X% y-o-y. Over the period under review, imports reached the peak figure at $X in 2007; however, from 2008 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, the U.S. (X kg) was the main spinach supplier to South Korea, with a approx. X% share of total imports.

From 2007 to 2020, the average annual growth rate of volume from the U.S. totaled -X%.

In value terms, the U.S. ($X) constituted the largest supplier of spinach to South Korea.

From 2007 to 2020, the average annual rate of growth in terms of value from the U.S. totaled -X%.

Import Prices by Country

In 2020, the average spinach import price amounted to $X per tonne, waning by -X% against the previous year. Overall, the import price recorded a abrupt downturn. The growth pace was the most rapid in 2013 when the average import price increased by X% year-to-year. The import price peaked at $X per tonne in 2010; however, from 2011 to 2020, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for the U.S..

From 2007 to 2020, the rate of growth in terms of prices for the U.S. amounted to -X% per year.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for spinach in the world?
+
China (58M tonnes) constituted the country with the largest volume of spinach consumption, comprising approx. 96% of total volume.
What are the largest producers of spinach in the world?
+
China (58M tonnes) constituted the country with the largest volume of spinach production, comprising approx. 96% of total volume.
What are the leading suppliers of spinach to Republic of Korea?
+
In value terms, the U.S. ($321) constituted the largest supplier of spinach to South Korea.
What are the leading importers of spinach from Republic of Korea?
+
In value terms, the largest markets for spinach exported from South Korea were Hong Kong SAR ($8.7K), Northern Mariana Islands ($6.8K) and Spain ($5.2K), together accounting for 68% of total exports.
What is the average export price for spinach in Republic of Korea?
+
In 2020, the average spinach export price amounted to $6,639 per tonne, declining by -4.9% against the previous year.
What is the average import price for spinach in Republic of Korea?
+
In 2020, the average spinach import price amounted to $1,661 per tonne, which is down by -24.2% against the previous year.

Product coverage:
• FCL 373 - Spinach

This report provides an in-depth analysis of the spinach 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
COUNTRIES WITH TOP YIELDS
5.4
TOP EXPORTING COUNTRIES
5.5
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, HARVESTED AREA AND YIELD
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:
Yield And Growth
Figure 15:
Exports And Growth
Figure 16:
Export Prices And Growth
Figure 17:
Market Size And Growth
Figure 18:
Per Capita Consumption
Figure 19:
Imports And Growth
Figure 20:
Import Prices
Figure 21:
Production, In Physical Terms, 2007–2020
Figure 22:
Production, In Value Terms, 2007–2020
Figure 23:
Area Harvested, 2007–2020
Figure 24:
Yield, 2007–2020
Figure 25:
Imports, In Physical Terms, 2007–2020
Figure 26:
Imports, In Value Terms, 2007–2020
Figure 27:
Imports, In Physical Terms, By Country, 2020
Figure 28:
Imports, In Physical Terms, By Country, 2007–2020
Figure 29:
Imports, In Value Terms, By Country, 2007–2020
Figure 30:
Import Prices, By Country Of Origin, 2007–2020
Figure 31:
Exports, In Physical Terms, 2007–2020
Figure 32:
Exports, In Value Terms, 2007–2020
Figure 33:
Exports, In Physical Terms, By Country, 2020
Figure 34:
Exports, In Physical Terms, By Country, 2007–2020
Figure 35:
Exports, In Value Terms, By Country, 2007–2020
Figure 36:
Export Prices, By Country Of Destination, 2007–2020

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