Republic of Korea: Egg Product Market 2025

Egg Product Market Size in Republic of Korea

The South Korean egg product market fell to $X in 2021, which is down by -9.5% against the previous year. Overall, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +14.5% against 2019 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Egg Product Production in Republic of Korea

In value terms, egg product production declined to $X in 2021 estimated in export price. Overall, the total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +13.2% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 34%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Egg Product Exports

Exports from Republic of Korea

In 2021, the amount of egg products exported from South Korea skyrocketed to X tons, with an increase of 18% against 2020 figures. In general, exports saw buoyant growth. The growth pace was the most rapid in 2018 with an increase of 146% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, egg product exports soared to $X in 2021. Over the period under review, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 196%. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Australia (X tons), Japan (X tons) and Taiwan (Chinese) (X tons) were the main destinations of egg product exports from South Korea, together comprising 80% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +39.4%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) emerged as the key foreign market for egg products exports from South Korea, comprising 63% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 27% share of total exports. It was followed by Australia, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value to Japan stood at +15.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+37.6% per year) and Australia (0.0% per year).

Export Prices by Country

The average egg product export price stood at $X per ton in 2021, surging by 62% against the previous year. In general, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, egg product export price increased by +158.6% against 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+22.4%), while the prices for the other major destinations experienced more modest paces of growth.

Egg Product Imports

Imports into Republic of Korea

In 2021, purchases abroad of egg products was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports saw a resilient expansion. The growth pace was the most rapid in 2017 when imports increased by 133%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, egg product imports soared to $X in 2021. Overall, imports enjoyed a pronounced increase. The pace of growth was the most pronounced in 2017 with an increase of 119%. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), the United States (X tons) and Italy (X tons) were the main suppliers of egg product imports to South Korea, together comprising 43% of total imports. These countries were followed by Denmark, Ukraine, the Netherlands and Malaysia, which together accounted for a further 18%.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +155.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest egg product suppliers to South Korea were the United States ($X), China ($X) and Italy ($X), together comprising 49% of total imports. These countries were followed by Denmark, Ukraine, the Netherlands and Malaysia, which together accounted for a further 21%.

In terms of the main suppliers, Malaysia, with a CAGR of +81.6%, 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

In 2021, the average egg product import price amounted to $X per ton, rising by 4.6% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by 15%. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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