Republic of Korea: Chewing Gum Market 2025

Chewing Gum Market Size in Republic of Korea

In 2021, after four years of growth, there was decline in the South Korean chewing gum market, when its value decreased by -4.7% to $X. The market value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. Chewing gum consumption peaked at $X in 2020, and then dropped modestly in the following year.

Chewing Gum Production in Republic of Korea

In value terms, chewing gum production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 23% against the previous year. Chewing gum production peaked at $X in 2020, and then reduced in the following year.

Chewing Gum Exports

Exports from Republic of Korea

After six years of decline, shipments abroad of chewing gum increased by 40% to X tons in 2021. In general, exports, however, continue to indicate a deep reduction. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, chewing gum exports skyrocketed to $X in 2021. Overall, exports, however, recorded a abrupt setback. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for chewing gum exports from South Korea, accounting for a 38% share of total exports. Moreover, chewing gum exports to Japan exceeded the volume sent to the second major destination, Russia (X tons), threefold. The third position in this ranking was held by Saudi Arabia (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Japan totaled +10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+2.5% per year) and Saudi Arabia (-25.5% per year).

In value terms, Japan ($X) remains the key foreign market for chewing gum exports from South Korea, comprising 66% of total exports. The second position in the ranking was taken by Russia ($X), with a 6.8% share of total exports. It was followed by Saudi Arabia, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan totaled +19.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+5.1% per year) and Saudi Arabia (-18.2% per year).

Export Prices by Country

The average chewing gum export price stood at $X per ton in 2021, picking up by 33% against the previous year. Overall, the export price saw a prominent expansion. The growth pace was the most rapid in 2017 an increase of 37%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Japan ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+9.8%), while the prices for the other major destinations experienced more modest paces of growth.

Chewing Gum Imports

Imports into Republic of Korea

In 2021, supplies from abroad of chewing gum was finally on the rise to reach X tons after three years of decline. Over the period under review, imports, however, saw a deep contraction. The growth pace was the most rapid in 2016 with an increase of 35%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, chewing gum imports surged to $X in 2021. Overall, imports, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 35%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Malaysia (X tons) and the United States (X tons) were the main suppliers of chewing gum imports to South Korea, together comprising 48% of total imports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +52.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Malaysia ($X) and the United States ($X) constituted the largest chewing gum suppliers to South Korea, together comprising 45% of total imports.

Among the main suppliers, Malaysia, with a CAGR of +55.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average chewing gum import price stood at $X per ton in 2021, falling by -6% against the previous year. Overall, the import price, however, showed a slight expansion. The pace of growth was the most pronounced in 2014 when the average import price increased by 12% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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