Republic of Korea: Prepared Frozen Vegetable Market 2022

Prepared Frozen Vegetable Market Size in Republic of Korea

The South Korean prepared frozen vegetable market amounted to $X in 2020, picking up by X% against the previous year. In general, consumption showed strong growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Prepared frozen vegetable consumption peaked in 2020 and is likely to see gradual growth in years to come.

Prepared Frozen Vegetable Production in Republic of Korea

In value terms, prepared frozen vegetable production totaled $X in 2020 estimated in export prices. Overall, production recorded a resilient increase. The pace of growth appeared the most rapid in 2016 with an increase of X% y-o-y. Prepared frozen vegetable production peaked in 2020 and is expected to retain growth in the immediate term.

Prepared Frozen Vegetable Exports

Exports from Republic of Korea

After four years of decline, shipments abroad of frozen vegetables and mixtures of vegetables (prepared or preserved) increased by X% to X tons in 2020. Over the period under review, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2010 when exports increased by X% year-to-year. As a result, exports attained the peak of X tons. from 2011 to 2020, the growth exports remained at a lower figure.

In value terms, prepared frozen vegetable exports surged to $X in 2020. Overall, exports, however, recorded a pronounced setback. The pace of growth was the most pronounced in 2010 with an increase of X% y-o-y. As a result, exports attained the peak of $X. from 2011 to 2020, the growth exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons), Kenya (X tons) and Vietnam (X tons) were the main destinations of prepared frozen vegetable exports from South Korea, together accounting for X% of total exports.

From 2007 to 2020, the biggest increases were in Vietnam, while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for prepared frozen vegetable exported from South Korea were the United States ($X), Kenya ($X) and Germany ($X), together accounting for X% of total exports. Australia, the Czech Republic, the Netherlands, Vietnam, Bangladesh, New Zealand, Canada, Russia, the United Arab Emirates and India lagged somewhat behind, together accounting for a further X saw the highest growth rate of the value of exports, in terms of 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 prepared frozen vegetable export price stood at $X per ton in 2020, declining by -X% against the previous year. In general, the export price, however, saw a moderate increase. The growth pace was the most rapid in 2019 when the average export price increased by X% against the previous year. As a result, export price attained the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably by the country of destination; the country with the highest price was New Zealand ($X per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Australia, while the prices for the other major destinations experienced more modest paces of growth.

Prepared Frozen Vegetable Imports

Imports into Republic of Korea

In 2020, approx. X tons of frozen vegetables and mixtures of vegetables (prepared or preserved) were imported into South Korea; which is down by -X% compared with 2019 figures. Over the period under review, imports, however, enjoyed a notable increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. from 2015 to 2020, the growth imports failed to regain the momentum.

In value terms, prepared frozen vegetable imports fell to $X in 2020. In general, imports, however, showed a tangible increase. The pace of growth was the most pronounced in 2014 with an increase of X% year-to-year. As a result, imports attained the peak of $X. from 2015 to 2020, the growth imports remained at a lower figure.

Imports by Country

In 2020, China (X tons) constituted the largest supplier of prepared frozen vegetable to South Korea, with a X% share of total imports. Moreover, prepared frozen vegetable imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. The third position in this ranking was occupied by Vietnam (X tons), with a X% share.

From 2007 to 2020, the average annual growth rate of volume from China amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+X% per year) and Vietnam (+X% per year).

In value terms, China ($X) constituted the largest supplier of prepared frozen vegetable to South Korea, comprising X% of total imports. The second position in the ranking was occupied by the United States ($X), with a X% share of total imports. It was followed by Vietnam, with a X% share.

From 2007 to 2020, the average annual growth rate of value from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+X% per year) and Vietnam (+X% per year).

Import Prices by Country

In 2020, the average prepared frozen vegetable import price amounted to $X per ton, which is down by -X% against the previous year. In general, import price indicated a modest expansion from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 an increase of X% y-o-y. The import price peaked at $X per ton in 2019, and then fell in the following year.

Prices varied noticeably by the country of origin; the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by China, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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