Report Update Jan 1, 2025

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

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Republic of Korea: Sour Cherry Market 2025

Sour Cherry Market Size in Republic of Korea

In 2022, the South Korean sour cherry market was finally on the rise to reach $X after five years of decline. In general, consumption, however, continues to indicate a pronounced slump. Sour cherry consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Sour Cherry Exports

Exports from Republic of Korea

In 2022, shipments abroad of sour cherries decreased by 0% to X kg, falling for the second consecutive year after three years of growth. In general, exports recorded a prominent increase. The pace of growth appeared the most rapid in 2020 with an increase of 42%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, sour cherry exports amounted to $X in 2022. Overall, exports recorded strong growth. The most prominent rate of growth was recorded in 2020 with an increase of 93%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Mongolia (X kg) was the main destination for sour cherry exports from South Korea, accounting for a approx. 100% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of volume to Mongolia stood at +59.6%.

From 2013 to 2022, the average annual growth rate of value to Mongolia amounted to +62.9%.

Export Prices by Country

The average sour cherry export price stood at $X per ton in 2022, approximately equating the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 36% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Mongolia.

From 2013 to 2022, the rate of growth in terms of prices for Singapore amounted to +7.6% per year.

Sour Cherry Imports

Imports into Republic of Korea

In 2022, after five years of decline, there was significant growth in overseas purchases of sour cherries, when their volume increased by 21% to X tons. Overall, imports, however, showed a abrupt descent. The pace of growth was the most pronounced in 2015 when imports increased by 30%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, sour cherry imports soared to $X in 2022. In general, imports, however, recorded a noticeable decline. The growth pace was the most rapid in 2015 with an increase of 49%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Chile (X tons), the United States (X tons) and New Zealand (X tons) were the main suppliers of sour cherry imports to South Korea, together comprising 99% of total imports.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of +10.3%), while purchases for the other leaders experienced a decline.

In value terms, Chile ($X), the United States ($X) and New Zealand ($X) constituted the largest sour cherry suppliers to South Korea, with a combined 95% share of total imports.

New Zealand, with a CAGR of +21.2%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average sour cherry import price stood at $X per ton in 2022, with an increase of 4.7% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sour cherry import price decreased by -3.0% against 2020 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 17% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+9.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for cherries in the world?

Turkey remains the largest cherry consuming country worldwide, accounting for 24% of total volume. Moreover, cherry consumption in Turkey exceeded the figures recorded by the second-largest consumer, the United States, threefold. The third position in this ranking was occupied by China, with an 8.5% share.

What are the largest producers of cherries in the world?

The country with the largest volume of cherry production was Turkey, accounting for 26% of total volume. Moreover, cherry production in Turkey exceeded the figures recorded by the second-largest producer, the United States, twofold. The third position in this ranking was occupied by Chile, with a 9.7% share.

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

In value terms, the United States constituted the largest supplier of cherry to South Korea, comprising 68% of total imports. The second position in the ranking was occupied by Chile, with a 30% share of total imports.

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

In 2021, the average cherry export price amounted to $11,600 per ton, with an increase of 35% against the previous year.

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

In 2021, the average cherry import price amounted to $7,903 per ton, shrinking by -20.2% against the previous year.

This report provides an in-depth analysis of the sour cherry 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 530 - Sour cherries

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