Report Update Nov 1, 2024

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

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Republic of Korea: Cow Peas Market 2024

Cow Peas Market Size in Republic of Korea

The South Korean cow peas market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption posted resilient growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Cow Peas Exports

Exports from Republic of Korea

In 2021, approx. X kg of cow peas (dry) were exported from South Korea; growing by 460% on the previous year's figure. Overall, exports recorded a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cow peas exports surged to $X in 2021. Over the period under review, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X kg) was the main destination for cow peas exports from South Korea, accounting for a 53% share of total exports. Moreover, cow peas exports to the United States exceeded the volume sent to the second major destination, the Philippines (X kg), twofold.

From 2015 to 2021, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (+104.5% per year) and Switzerland (+53.0% per year).

In value terms, the United States ($X), the Philippines ($X) and Switzerland ($X) appeared to be the largest markets for cow peas exported from South Korea worldwide.

The Philippines, with a CAGR of +84.8%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cow peas export price stood at $X per ton in 2021, increasing by 27% against the previous year. Over the period under review, the export price showed significant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2021, the country with the highest price was the Philippines ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2015 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Switzerland (+18.5%).

Cow Peas Imports

Imports into Republic of Korea

In 2021, overseas purchases of cow peas (dry) were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cow peas imports surged to $X in 2021. Overall, imports posted a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Myanmar (X tons) constituted the largest cow peas supplier to South Korea, with a 74% share of total imports. Moreover, cow peas imports from Myanmar exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. India (X tons) ranked third in terms of total imports with a 3.9% share.

From 2012 to 2021, the average annual growth rate of volume from Myanmar stood at +4.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+30.5% per year) and India (+66.9% per year).

In value terms, Myanmar ($X) constituted the largest supplier of cow peas to South Korea, comprising 75% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports. It was followed by India, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Myanmar amounted to +13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+34.3% per year) and India (+85.3% per year).

Import Prices by Country

The average cow peas import price stood at $X per ton in 2021, jumping by 56% against the previous year. In general, import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cow peas import price increased by +69.2% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, the highest price was recorded for prices from India ($X per ton) and Myanmar ($X per ton), while the price for the United States ($X per ton) and Madagascar ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+11.0%), 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 cow peas (dry) in the world?

The countries with the highest volumes of cow peas consumption in 2020 were Nigeria, Niger and Burkina Faso, together accounting for 77% of global consumption. These countries were followed by Kenya, Ghana, Senegal, Mali, Cameroon, Sudan and Tanzania, which together accounted for a further 15%.

What are the largest producers of cow peas (dry) in the world?

The countries with the highest volumes of cow peas production in 2020 were Nigeria, Niger and Burkina Faso, with a combined 78% share of global production. Kenya, Ghana, Senegal, Mali, Cameroon, Sudan and Tanzania lagged somewhat behind, together accounting for a further 15%.

What are the leading suppliers of cow peas (dry) to Republic of Korea?

In value terms, Myanmar constituted the largest supplier of cow peas to South Korea, comprising 87% of total imports. The second position in the ranking was occupied by the U.S., with a 5.7% share of total imports.

What is the average export price for cow peas (dry) in Republic of Korea?

In 2020, the average cow peas export price amounted to $9,571 per ton, growing by 423% against the previous year.

What is the average import price for cow peas (dry) in Republic of Korea?

In 2020, the average cow peas import price amounted to $750 per ton, with an increase of 8.3% against the previous year.

This report provides an in-depth analysis of the cow peas 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 195 - Cow peas, dry

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