Republic of Korea: Active Yeast Market 2024

Active Yeast Market Size in Republic of Korea

The South Korean active yeast market contracted modestly to $X in 2022, standing approx. at the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Active Yeast Production in Republic of Korea

In value terms, active yeast production shrank slightly to $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Active Yeast Exports

Exports from Republic of Korea

In 2022, shipments abroad of bakers and active yeast decreased by X% to X tons, falling for the third year in a row after two years of growth. Overall, exports saw a sharp decline. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, active yeast exports contracted markedly to $X in 2022. In general, exports showed a deep slump. The growth pace was the most rapid in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for active yeast exports from South Korea, accounting for a X% share of total exports. Moreover, active yeast exports to Japan exceeded the volume sent to the second major destination, China (X tons), sixfold. Vietnam (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Japan totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Vietnam (X% per year).

In value terms, China ($X) emerged as the key foreign market for bakers and active yeast exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Vietnam, with an X% share.

From 2012 to 2022, the average annual growth rate of value to China stood at 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

The average active yeast export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price enjoyed a buoyant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Japan ($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 Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.

Active Yeast Imports

Imports into Republic of Korea

Active yeast imports into South Korea was estimated at X tons in 2022, remaining relatively unchanged against 2021. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, active yeast imports dropped modestly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then fell modestly in the following year.

Imports by Country

China (X tons), the United States (X tons) and France (X tons) were the main suppliers of active yeast imports to South Korea, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest active yeast suppliers to South Korea were France ($X), China ($X) and the United States ($X), together accounting for X% of total imports.

The United States, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average active yeast import price stood at $X per ton in 2022, waning by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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