Republic of Korea: Baby Carriage Market 2025

Baby Carriage Market Size in Republic of Korea

The South Korean baby carriage market reduced dramatically to $X in 2022, falling by -24.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a pronounced decline. Baby carriage consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Baby Carriage Exports

Exports from Republic of Korea

In 2022, exports of baby carriages from South Korea expanded markedly to X units, growing by 14% compared with the year before. Over the period under review, exports, however, showed a pronounced slump. The pace of growth appeared the most rapid in 2020 with an increase of 86% against the previous year. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, baby carriage exports surged to $X in 2022. Overall, exports, however, continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2018 with an increase of 54% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units), the Netherlands (X units) and Chile (X units) were the main destinations of baby carriage exports from South Korea, with a combined 72% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +101.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the Netherlands ($X) and Chile ($X) appeared to be the largest markets for baby carriage exported from South Korea worldwide, together comprising 74% of total exports.

Chile, with a CAGR of +84.1%, recorded the highest growth rate of the value of exports, in terms of 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 baby carriage export price stood at $X per unit in 2022, surging by 24% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 46% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Chile ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+38.5%), while the prices for the other major destinations experienced more modest paces of growth.

Baby Carriage Imports

Imports into Republic of Korea

In 2022, the amount of baby carriages imported into South Korea reduced notably to X units, shrinking by -21% on the previous year. In general, imports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 73%. Imports peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, baby carriage imports contracted dramatically to $X in 2022. Overall, imports continue to indicate a slight setback. The most prominent rate of growth was recorded in 2021 when imports increased by 92%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest baby carriage supplier to South Korea, with a 79% share of total imports. Moreover, baby carriage imports from China exceeded the figures recorded by the second-largest supplier, the United States (X units), tenfold. Italy (X units) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to -4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-14.2% per year) and Italy (-0.4% per year).

In value terms, China ($X) constituted the largest supplier of baby carriages to South Korea, comprising 70% of total imports. The second position in the ranking was held by the United States ($X), with a 9.8% share of total imports. It was followed by Italy, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-11.1% per year) and Italy (-0.3% per year).

Import Prices by Country

In 2022, the average baby carriage import price amounted to $X per unit, with a decrease of -3.8% against the previous year. Over the last decade, it increased at an average annual rate of +4.1%. The pace of growth was the most pronounced in 2016 an increase of 31%. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then reduced slightly in the following year.

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 Italy ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform