Report Update Nov 1, 2024

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

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Republic of Korea: Dairy Machinery Market 2024

Dairy Machinery Market Size in Republic of Korea

In 2022, the South Korean dairy machinery market decreased by -29.7% to $X, falling for the second consecutive year after three years of growth. Overall, consumption saw a relatively flat trend pattern. Dairy machinery consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Dairy Machinery Exports

Exports from Republic of Korea

For the third consecutive year, South Korea recorded decline in overseas shipments of dairy machinery, which decreased by -70% to X units in 2022. Overall, exports faced a deep slump. The most prominent rate of growth was recorded in 2019 with an increase of 550%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, dairy machinery exports fell remarkably to $X in 2022. In general, exports continue to indicate a sharp descent. The pace of growth appeared the most rapid in 2019 when exports increased by 393%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units) and China (X units) were the main destinations of dairy machinery exports from South Korea. Moreover, dairy machinery exports in the United States exceeded the figures recorded by the second-largest exporter, China, twofold.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +10.4%).

In value terms, China ($X) and the United States ($X) constituted the largest markets for dairy machinery exported from South Korea worldwide.

China, with a CAGR of +42.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2022, the average dairy machinery export price amounted to $X per unit, with a decrease of -51.2% against the previous year. In general, the export price saw a deep setback. The pace of growth appeared the most rapid in 2015 an increase of 72% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to the United States stood at $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+136.4%), while the prices for the other major destinations experienced more modest paces of growth.

Dairy Machinery Imports

Imports into Republic of Korea

In 2022, supplies from abroad of dairy machinery decreased by -24.6% to X units, falling for the second year in a row after two years of growth. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 355%. Over the period under review, imports hit record highs at X units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, dairy machinery imports shrank markedly to $X in 2022. In general, imports continue to indicate a mild decline. The growth pace was the most rapid in 2015 with an increase of 411% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Sweden (X units), China (X units) and Italy (X units) were the main suppliers of dairy machinery imports to South Korea, together accounting for 95% of total imports. The Netherlands and the United States lagged somewhat behind, together comprising a further 2.4%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +14.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Italy ($X) and China ($X) constituted the largest dairy machinery suppliers to South Korea, with a combined 93% share of total imports. The Netherlands and the United States lagged somewhat behind, together comprising a further 4.1%.

Among the main suppliers, the Netherlands, with a CAGR of +18.6%, saw the highest growth rate of 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 dairy machinery import price stood at $X per unit in 2022, reducing by -13.7% against the previous year. Overall, the import price saw a slight decrease. The pace of growth was the most pronounced in 2013 when the average import price increased by 24%. Over the period under review, average import prices reached the maximum at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.1%), 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 dairy machinery in the world?

China constituted the country with the largest volume of dairy machinery consumption, comprising approx. 28% of total volume. Moreover, dairy machinery consumption in China exceeded the figures recorded by the second-largest consumer, the United States, twofold. India ranked third in terms of total consumption with a 10% share.

What are the largest producers of dairy machinery in the world?

China remains the largest dairy machinery producing country worldwide, accounting for 27% of total volume. Moreover, dairy machinery production in China exceeded the figures recorded by the second-largest producer, the United States, twofold. India ranked third in terms of total production with a 10% share.

What are the leading suppliers of dairy machinery to Republic of Korea?

In value terms, Italy constituted the largest supplier of dairy machinery to South Korea, comprising 58% of total imports. The second position in the ranking was occupied by Sweden, with a 24% share of total imports. It was followed by Denmark, with a 7% share.

What are the leading importers of dairy machinery from Republic of Korea?

In value terms, Pakistan remains the key foreign market for dairy machinery exports from South Korea.

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

In 2021, the average dairy machinery export price amounted to $24,030 per ton, with an increase of 4.3% against the previous year.

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

The average dairy machinery import price stood at $42,355 per ton in 2021, dropping by -3.8% against the previous year.

This report provides an in-depth analysis of the dairy machinery 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:

Prodcom 28931200 - Dairy machinery (including homogenisers, irradiators, buttermaking machines, cheese-making machines)

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. TOP EXPORTING COUNTRIES
4. 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 VOLUME AND VALUE
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. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023