Report Update Jan 1, 2025

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

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Republic of Korea: Carob Market 2025

Carob Market Size in Republic of Korea

After five years of decline, the South Korean carob market increased by 48% to $X in 2022. Over the period under review, consumption, however, saw a abrupt decrease. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Carob Exports

Exports from Republic of Korea

In 2022, shipments abroad of carob was finally on the rise to reach X kg for the first time since 2019, thus ending a two-year declining trend. Overall, exports recorded a significant expansion. The growth pace was the most rapid in 2017 when exports increased by 250,230%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, carob exports skyrocketed to $X in 2022. In general, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 20,784% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Sri Lanka (X kg) was the main destination for carob exports from South Korea, accounting for a 98% share of total exports. It was followed by Canada (X kg), with a 1.8% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Sri Lanka totaled +27.3%.

In value terms, Sri Lanka ($X) remains the key foreign market for carob exports from South Korea, comprising 100% of total exports. The second position in the ranking was taken by Canada ($X), with a 0.4% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Sri Lanka stood at +23.9%.

Export Prices by Country

The average carob export price stood at $X per ton in 2022, waning by -19.7% against the previous year. Over the period under review, the export price continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2016 an increase of 908% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while the average price for exports to Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sri Lanka (-2.7%).

Carob Imports

Imports into Republic of Korea

After five years of decline, overseas purchases of carob increased by 87% to X tons in 2022. Overall, imports, however, showed a deep contraction. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, carob imports soared to $X in 2022. In general, imports, however, showed a perceptible curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by 55%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of carob to South Korea, with a 80% share of total imports. Moreover, carob imports from Turkey exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey stood at -14.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+32.5% per year) and Algeria (-50.7% per year).

In value terms, Turkey ($X) constituted the largest supplier of carob to South Korea, comprising 66% of total imports. The second position in the ranking was held by Spain ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey amounted to -7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+33.6% per year) and Algeria (-47.0% per year).

Import Prices by Country

The average carob import price stood at $X per ton in 2022, declining by -26% against the previous year. Overall, the import price, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2013 an increase of 57%. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then shrank sharply in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+102.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for carob in the world?

The countries with the highest volumes of carob consumption in 2020 were Portugal, Italy and Turkey, with a combined 51% share of global consumption. These countries were followed by Morocco, Greece, Vietnam, Cyprus, France, Algeria, Switzerland, Lebanon and Egypt, which together accounted for a further 40%.

What are the largest producers of carob in the world?

The countries with the highest volumes of carob production in 2020 were Portugal, Italy and Morocco, with a combined 57% share of global production. These countries were followed by Turkey, Spain, Greece, Cyprus and Algeria, which together accounted for a further 36%.

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

In value terms, Turkey, Australia and Spain appeared to be the largest carob suppliers to South Korea, with a combined 81% share of total imports.

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

In value terms, Thailand remains the key foreign market for carob exports from South Korea.

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

In 2020, the average carob export price amounted to $2,380 per ton, increasing by 1.6% against the previous year.

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

The average carob import price stood at $1,744 per ton in 2020, with an increase of 37% against the previous year.

This report provides an in-depth analysis of the carob 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 461 - Carobs

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