Republic of Korea: Bottled Water Market 2024

Bottled Water Market Size in Republic of Korea

The South Korean bottled water market shrank slightly to $X in 2022, which is down by -1.6% against the previous year. Over the period under review, consumption, however, recorded a strong increase. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Bottled Water Production in Republic of Korea

In value terms, bottled water production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a notable increase. The pace of growth was the most pronounced in 2018 with an increase of 86% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Bottled Water Exports

Exports from Republic of Korea

In 2022, the amount of bottled waters exported from South Korea reduced to X tons, waning by -11.1% on 2021 figures. Overall, exports showed a mild decrease. The most prominent rate of growth was recorded in 2021 with an increase of 29% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, bottled water exports contracted to $X in 2022. Over the period under review, exports saw a slight decrease. The pace of growth appeared the most rapid in 2015 when exports increased by 53% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Vietnam (X tons), the United States (X tons) and Guam (X tons) were the main destinations of bottled water exports from South Korea, with a combined 32% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +27.6%), while the other leaders experienced more modest paces of growth.

In value terms, Guam ($X), the United States ($X) and Vietnam ($X) constituted the largest markets for bottled water exported from South Korea worldwide, together comprising 32% of total exports. These countries were followed by Russia, Northern Mariana Islands, the Philippines, Indonesia, Hong Kong SAR, Singapore, Japan, China, Australia and Cambodia, which together accounted for a further 54%.

Russia, with a CAGR of +25.9%, 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 bottled water export price stood at $X per ton in 2022, rising by 4.1% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 28%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Northern Mariana Islands ($X per ton), while the average price for exports to Hong Kong SAR ($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 Northern Mariana Islands (+12.3%), while the prices for the other major destinations experienced more modest paces of growth.

Bottled Water Imports

Imports into Republic of Korea

In 2022, after two years of decline, there was significant growth in overseas purchases of bottled waters, when their volume increased by 17% to X tons. Overall, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 375% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, bottled water imports totaled $X in 2022. In general, imports recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 172% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of bottled water to South Korea, with a 88% share of total imports. Moreover, bottled water imports from China exceeded the figures recorded by the second-largest supplier, France (X tons), more than tenfold. The UK (X tons) ranked third in terms of total imports with a 1.6% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +48.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+2.0% per year) and the UK (+52.9% per year).

In value terms, China ($X) constituted the largest supplier of bottled waters to South Korea, comprising 71% of total imports. The second position in the ranking was held by France ($X), with a 13% share of total imports. It was followed by Italy, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +52.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+2.9% per year) and Italy (+12.5% per year).

Import Prices by Country

The average bottled water import price stood at $X per ton in 2022, waning by -5.7% against the previous year. In general, the import price continues to indicate a deep setback. The growth pace was the most rapid in 2021 an increase of 11%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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