Republic of Korea: Blueberry And Cranberry Market 2024

Blueberry And Cranberry Market Size in Republic of Korea

After four years of growth, the South Korean blueberry and cranberry market decreased by -1.7% to $X in 2022. In general, consumption, however, saw significant growth. Over the period under review, the market reached the peak level at $X in 2021, and then dropped in the following year.

Blueberry And Cranberry Production in Republic of Korea

In value terms, blueberry and cranberry production stood at $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 with a decrease of 99.9% against the previous year. Over the period under review, production hit record highs in 2022 and is expected to retain growth in the near future.

In 2022, the average blueberry and cranberry yield in South Korea was estimated at less than X kg per ha, stabilizing at the previous year. Over the period under review, the yield recorded 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.

In 2022, approx. less than X ha of blueberries and cranberries were harvested in South Korea; remaining relatively unchanged against 2021 figures. In general, the harvested area saw a relatively flat trend pattern.

Blueberry And Cranberry Exports

Exports from Republic of Korea

In 2022, after five years of growth, there was significant decline in shipments abroad of blueberries and cranberries, when their volume decreased by -38.6% to X tons. Over the period under review, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 9,813%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, blueberry and cranberry exports declined remarkably to $X in 2022. In general, exports, however, showed a significant expansion. The growth pace was the most rapid in 2015 when exports increased by 5,797% against the previous year. Over the period under review, the exports reached the maximum at $X in 2021, and then contracted rapidly in the following year.

Exports by Country

Hong Kong SAR (X tons) was the main destination for blueberry and cranberry exports from South Korea, accounting for a 57% share of total exports. Moreover, blueberry and cranberry exports to Hong Kong SAR exceeded the volume sent to the second major destination, Kuwait (X tons), twofold. The third position in this ranking was held by Vietnam (X kg), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Hong Kong SAR totaled +98.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+50.8% per year) and Vietnam (+15.7% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for blueberries and cranberries exports from South Korea, comprising 80% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 13% share of total exports. It was followed by Vietnam, with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value to Hong Kong SAR amounted to +131.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+42.7% per year) and Vietnam (-0.3% per year).

Export Prices by Country

The average blueberry and cranberry export price stood at $X per ton in 2022, increasing by 15% against the previous year. Overall, export price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, blueberry and cranberry export price increased by +42.9% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 118%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Vietnam ($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 Thailand (+25.6%), while the prices for the other major destinations experienced mixed trend patterns.

Blueberry And Cranberry Imports

Imports into Republic of Korea

After ten years of growth, overseas purchases of blueberries and cranberries decreased by -2% to X tons in 2022. Over the period under review, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 284%. Over the period under review, imports attained the maximum at X tons in 2021, and then contracted modestly in the following year.

In value terms, blueberry and cranberry imports fell modestly to $X in 2022. Overall, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 227% against the previous year. Imports peaked at $X in 2021, and then reduced modestly in the following year.

Imports by Country

In 2022, Chile (X tons) constituted the largest blueberry and cranberry supplier to South Korea, with a 86% share of total imports. Moreover, blueberry and cranberry imports from Chile exceeded the figures recorded by the second-largest supplier, the United States (X tons), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Chile amounted to +39.9%.

In value terms, Chile ($X) constituted the largest supplier of blueberries and cranberries to South Korea, comprising 83% of total imports. The second position in the ranking was held by the United States ($X), with a 16% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Chile stood at +36.1%.

Import Prices by Country

In 2022, the average blueberry and cranberry import price amounted to $X per ton, remaining stable against the previous year. In general, the import price, however, showed a perceptible downturn. The pace of growth appeared the most rapid in 2020 an increase of 9.1%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Chile amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-0.1%).

Source: IndexBox Platform

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