Report Update Jan 1, 2025

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

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Republic of Korea: Apricot Market 2025

Apricot Market Size in Republic of Korea

The South Korean apricot market dropped to $X in 2022, waning by -8% against the previous year. In general, consumption continues to indicate a abrupt descent. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Apricot Production in Republic of Korea

In value terms, apricot production totaled $X in 2022 estimated in export price. In general, production, however, continues to indicate a noticeable decline. The pace of growth appeared the most rapid in 2016 when the production volume increased by 8.2% against the previous year. Apricot production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

The average yield of apricots in South Korea was estimated at less than X kg per ha in 2022, flattening at 2021. Over the period under review, the yield saw a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The apricot harvested area in South Korea stood at less than X ha in 2022, approximately reflecting 2021. Overall, the harvested area recorded a relatively flat trend pattern.

Apricot Exports

Exports from Republic of Korea

In 2022, overseas shipments of apricots decreased by 0% to X kg, falling for the second consecutive year after four years of growth. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 229% against the previous year. As a result, the exports reached the peak of X kg. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, apricot exports stood at $X in 2022. Overall, exports enjoyed significant growth. The pace of growth was the most pronounced in 2015 when exports increased by 4,329% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Singapore (X kg) was the main destination for apricot exports from South Korea, accounting for a 95% share of total exports. Moreover, apricot exports to Singapore exceeded the volume sent to the second major destination, Mongolia (X kg), more than tenfold.

From 2014 to 2022, the average annual rate of growth in terms of volume to Singapore amounted to +581.1%.

From 2014 to 2022, the average annual rate of growth in terms of value to Singapore stood at +1,236.6%.

Export Prices by Country

In 2022, the average apricot export price amounted to $X per ton, remaining stable against the previous year. Over the period under review, the export price posted a significant increase. The most prominent rate of growth was recorded in 2015 when the average export price increased by 5,738%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Mongolia amounted to $X per ton.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+96.2%), while the prices for the other major destinations experienced more modest paces of growth.

Apricot Imports

Imports into Republic of Korea

In 2022, purchases abroad of apricots decreased by -74.6% to X kg, falling for the ninth year in a row after two years of growth. Over the period under review, imports saw a sharp shrinkage. The most prominent rate of growth was recorded in 2013 when imports increased by 645%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, apricot imports fell notably to $X in 2022. In general, imports recorded a dramatic slump. The growth pace was the most rapid in 2013 with an increase of 411% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United States (X kg) was the main supplier of apricot to South Korea, accounting for a approx. 99% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at -27.2%.

In value terms, the United States ($X) constituted the largest supplier of apricots to South Korea.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at -31.3%.

Import Prices by Country

In 2022, the average apricot import price amounted to $X per ton, increasing by 4.3% against the previous year. Overall, the import price, however, showed a deep setback. The growth pace was the most rapid in 2018 an increase of 68%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -5.6% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for apricots in the world?

The countries with the highest volumes of apricot consumption in 2021 were Turkey, Uzbekistan and Iran, with a combined 42% share of global consumption. Italy, Algeria, Russia, France, Pakistan, Afghanistan, Greece, Morocco, Ukraine and Egypt lagged somewhat behind, together comprising a further 32%.

What are the largest producers of apricots in the world?

The countries with the highest volumes of apricot production in 2021 were Turkey, Uzbekistan and Iran, with a combined 44% share of global production. Italy, Algeria, Spain, Afghanistan, Greece, France, Morocco, Pakistan, Egypt and Japan lagged somewhat behind, together comprising a further 33%.

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

In value terms, the United States constituted the largest supplier of apricot to South Korea.

What are the leading importers of apricots from Republic of Korea?

In value terms, Bahrain remains the key foreign market for apricot exports from South Korea, comprising 53% of total exports. The second position in the ranking was occupied by Canada $626), with a 25% share of total exports.

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

The average apricot export price stood at $3,918 per ton in 2021, rising by 6.4% against the previous year.

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

The average apricot import price stood at $1,691 per ton in 2021, surging by 6.9% against the previous year.

This report provides an in-depth analysis of the apricot 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 526 - Apricots

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 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
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 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
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, 2012–2024
23. Production, In Value Terms, 2012–2024
24. Area Harvested, 2012–2024
25. Yield, 2012–2024
26. Imports, In Physical Terms, 2012–2024
27. Imports, In Value Terms, 2012–2024
28. Imports, In Physical Terms, By Country, 2024
29. Imports, In Physical Terms, By Country, 2012–2024
30. Imports, In Value Terms, By Country, 2012–2024
31. Import Prices, By Country Of Origin, 2012–2024
32. Exports, In Physical Terms, 2012–2024
33. Exports, In Value Terms, 2012–2024
34. Exports, In Physical Terms, By Country, 2024
35. Exports, In Physical Terms, By Country, 2012–2024
36. Exports, In Value Terms, By Country, 2012–2024
37. Export Prices, By Country Of Destination, 2012–2024