Report Update Nov 1, 2024

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

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Republic of Korea: Coconut Market 2024

Coconut Market Size in Republic of Korea

The South Korean coconut market contracted modestly to $X in 2022, falling by -2.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, enjoyed a prominent expansion. Over the period under review, the market hit record highs at $X in 2021, and then contracted slightly in the following year.

Coconut Exports

Exports from Republic of Korea

In 2022, overseas shipments of coconuts decreased by -96.3% to X kg, falling for the sixth year in a row after three years of growth. Overall, exports recorded a dramatic contraction. The most prominent rate of growth was recorded in 2016 with an increase of 2,650%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, coconut exports dropped notably to $X in 2022. Over the period under review, exports saw a sharp setback. The pace of growth was the most pronounced in 2016 with an increase of 2,572% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The Philippines (X kg) was the main destination for coconut exports from South Korea, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Philippines stood at -69.1%.

From 2012 to 2022, the average annual rate of growth in terms of value to the Philippines totaled -37.1%.

Export Prices by Country

The average coconut export price stood at $X per ton in 2022, rising by 800% against the previous year. Overall, the export price enjoyed a significant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for the Philippines amounted to +103.7% per year.

Coconut Imports

Imports into Republic of Korea

In 2022, overseas purchases of coconuts decreased by -11.4% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of 77% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then dropped in the following year.

In value terms, coconut imports totaled $X in 2022. Overall, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 86%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Vietnam (X tons) was the main supplier of coconut to South Korea, accounting for a 96% share of total imports. Moreover, coconut imports from Vietnam exceeded the figures recorded by the second-largest supplier, Thailand (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Vietnam amounted to +18.5%.

In value terms, Vietnam ($X) constituted the largest supplier of coconuts to South Korea, comprising 88% of total imports. The second position in the ranking was held by Thailand ($X), with a 12% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Vietnam stood at +21.1%.

Import Prices by Country

In 2022, the average coconut import price amounted to $X per ton, rising by 16% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2017 an increase of 24%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per ton), while the price for Vietnam totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+12.9%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for coconuts in the world?

The countries with the highest volumes of in 2020 were Indonesia, India and the Philippines, together accounting for 73% of global consumption. Brazil, Sri Lanka, Vietnam, Papua New Guinea and China lagged somewhat behind, together comprising a further 14%.

What are the largest producers of coconuts in the world?

The countries with the highest volumes of in 2020 were Indonesia, India and the Philippines, with a combined 74% share of global production. These countries were followed by Brazil, Sri Lanka, Vietnam and Papua New Guinea, which together accounted for a further 12%.

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

In value terms, Vietnam constituted the largest supplier of coconut to South Korea, comprising 88% of total imports. The second position in the ranking was occupied by Thailand, with a 12% share of total imports.

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

The average coconut export price stood at $2,424 per ton in 2020, growing by 1.8% against the previous year.

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

In 2020, the average coconut import price amounted to $568 per ton, falling by -26.3% against the previous year.

This report provides an in-depth analysis of the coconut 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 249 - Coconuts

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 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
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 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
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, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023