Republic of Korea: Market for Concentrated Lemon And Other Citrus Fruit Juice 2024

Market Size for Concentrated Lemon And Other Citrus Fruit Juice in Republic of Korea

In 2021, the South Korean market for concentrated lemon and other citrus fruit juice was finally on the rise to reach $X after three years of decline. Overall, consumption posted a resilient increase. Consumption of peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Production of Concentrated Lemon And Other Citrus Fruit Juice in Republic of Korea

In value terms, production of concentrated lemon and other citrus fruit juice totaled $X in 2021 estimated in export price. Over the period under review, production showed a deep contraction. The pace of growth was the most pronounced in 2019 with an increase of 31%. As a result, production reached the peak level of $X. From 2020 to 2021, production of growth failed to regain momentum.

Exports of Concentrated Lemon And Other Citrus Fruit Juice

Exports from Republic of Korea

In 2021, overseas shipments of concentrated lemon and other citrus fruit juice decreased by -12.3% to X tons, falling for the second year in a row after two years of growth. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when exports increased by 84% against the previous year. Over the period under review, the exports of reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, exports of concentrated lemon and other citrus fruit juice declined remarkably to $X in 2021. In general, exports showed a mild decrease. The most prominent rate of growth was recorded in 2018 when exports increased by 85% against the previous year. Over the period under review, the exports of hit record highs at $X in 2020, and then fell rapidly in the following year.

Exports by Country

Japan (X tons) was the main destination for exports of concentrated lemon and other citrus fruit juice from South Korea, accounting for a 94% share of total exports. It was followed by the United Arab Emirates (X tons), with a 2.4% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Japan was relatively modest.

In value terms, Japan ($X) remains the key foreign market for concentrated lemon and other citrus fruit juice exports from South Korea, comprising 94% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 0.4% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Japan totaled -1.6%.

Export Prices by Country

The average export price for concentrated lemon and other citrus fruit juice stood at $X per ton in 2021, declining by -11% against the previous year. In general, the export price recorded a slight contraction. The pace of growth appeared the most rapid in 2019 when the average export price increased by 12%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while the average price for exports to the United Arab Emirates totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (-2.6%), while the prices for the other major destinations experienced a decline.

Imports of Concentrated Lemon And Other Citrus Fruit Juice

Imports into Republic of Korea

In 2021, approx. X tons of concentrated lemon and other citrus fruit juice were imported into South Korea; declining by -23.2% on 2020. Over the period under review, imports, however, continue to indicate a modest increase. The most prominent rate of growth was recorded in 2020 with an increase of 87% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, imports of concentrated lemon and other citrus fruit juice contracted significantly to $X in 2021. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 58%. Over the period under review, imports of hit record highs at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

The United States (X tons), Vietnam (X tons) and Israel (X tons) were the main suppliers of imports of concentrated lemon and other citrus fruit juice to South Korea, with a combined 62% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +62.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest concentrated lemon and other citrus fruit juice suppliers to South Korea were Vietnam ($X), Israel ($X) and the United States ($X), together comprising 60% of total imports. Italy, India, Thailand, Spain, Taiwan (Chinese), the Philippines and the Dominican Republic lagged somewhat behind, together comprising a further 34%.

In terms of the main suppliers, Spain, with a CAGR of +70.8%, 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

In 2021, the average import price for concentrated lemon and other citrus fruit juice amounted to $X per ton, rising by 2.9% against the previous year. Over the period under review, the import price, however, continues to indicate a mild setback. The most prominent rate of growth was recorded in 2017 an increase of 16% 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.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while the price for the Dominican Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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