Republic of Korea: Domestic Toaster Market 2025

Domestic Toaster Market Size in Republic of Korea

In 2022, the South Korean domestic toaster market decreased by -15.2% to $X for the first time since 2016, thus ending a five-year rising trend. Overall, consumption, however, saw a buoyant expansion. Over the period under review, the market hit record highs at $X in 2021, and then shrank significantly in the following year.

Domestic Toaster Production in Republic of Korea

In value terms, domestic toaster production totaled $X in 2022 estimated in export price. Over the period under review, production posted a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 84% against the previous year. Domestic toaster production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Domestic Toaster Exports

Exports from Republic of Korea

In 2022, shipments abroad of domestic electric toasters decreased by -76.8% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2021 with an increase of 408% against the previous year. As a result, the exports reached the peak of X units, and then reduced rapidly in the following year.

In value terms, domestic toaster exports fell dramatically to $X in 2022. Over the period under review, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2017 with an increase of 455%. Over the period under review, the exports reached the maximum at $X in 2021, and then reduced remarkably in the following year.

Exports by Country

Thailand (X units) was the main destination for domestic toaster exports from South Korea, accounting for a 60% share of total exports. Moreover, domestic toaster exports to Thailand exceeded the volume sent to the second major destination, Australia (X units), more than tenfold. Singapore (X units) ranked third in terms of total exports with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Thailand amounted to +117.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+70.1% per year) and Singapore (+80.2% per year).

In value terms, Thailand ($X) remains the key foreign market for domestic electric toasters exports from South Korea, comprising 60% of total exports. The second position in the ranking was taken by Australia ($X), with a 5.6% share of total exports. It was followed by Singapore, with a 5.6% share.

From 2012 to 2022, the average annual growth rate of value to Thailand totaled +121.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+71.5% per year) and Singapore (+86.2% per year).

Export Prices by Country

The average domestic toaster export price stood at $X per unit in 2022, surging by 55% against the previous year. In general, the export price continues to indicate perceptible growth. The growth pace was the most rapid in 2018 when the average export price increased by 58%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were the United Arab Emirates ($X per unit) and the United States ($X per unit), while the average price for exports to Hong Kong SAR ($X per unit) and Japan ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+144.2%), while the prices for the other major destinations experienced more modest paces of growth.

Domestic Toaster Imports

Imports into Republic of Korea

In 2022, after three years of growth, there was significant decline in overseas purchases of domestic electric toasters, when their volume decreased by -55.7% to X units. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 38%. As a result, imports reached the peak of X units, and then declined dramatically in the following year.

In value terms, domestic toaster imports fell sharply to $X in 2022. In general, imports, however, recorded measured growth. The pace of growth was the most pronounced in 2021 when imports increased by 48%. As a result, imports reached the peak of $X, and then dropped significantly in the following year.

Imports by Country

In 2022, China (X units) was the main supplier of domestic toaster to South Korea, accounting for a 97% share of total imports. It was followed by the UK (X units), with a 2.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China was relatively modest.

In value terms, China ($X) constituted the largest supplier of domestic electric toasters to South Korea, comprising 97% of total imports. The second position in the ranking was held by the UK ($X), with a 2.7% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +2.5%.

Import Prices by Country

The average domestic toaster import price stood at $X per unit in 2022, waning by -3% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2020 an increase of 20% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2021, and then contracted modestly in the following year.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per unit), while the price for China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+2.7%).

Source: IndexBox Platform

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