Republic of Korea: Frozen Whole Chicken Market 2022

Frozen Whole Chicken Market Size in Republic of Korea

The South Korean frozen whole chicken market amounted to $X in 2021, with an increase of X% against the previous year. Over the period under review, consumption, however, recorded a pronounced downturn. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Frozen Whole Chicken Production in Republic of Korea

In value terms, frozen whole chicken production totaled $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. Frozen whole chicken production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Frozen Whole Chicken Exports

Exports from Republic of Korea

In 2021, shipments abroad of frozen whole chickens decreased by -X% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2020, and then dropped in the following year.

In value terms, frozen whole chicken exports declined to $X in 2021. Over the period under review, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at $X in 2020, and then reduced in the following year.

Exports by Country

Vietnam (X tons) was the main destination for frozen whole chicken exports from South Korea, with a approx. X% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam stood at +X%.

In value terms, Vietnam ($X) also remains the key foreign market for frozen whole chicken exports from South Korea.

From 2012 to 2021, the average annual growth rate of value to Vietnam totaled +X%.

Export Prices by Country

The average frozen whole chicken export price stood at $X per ton in 2021, declining by -X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Vietnam.

From 2012 to 2021, the rate of growth in terms of prices for Vietnam amounted to -X% per year.

Frozen Whole Chicken Imports

Imports into Republic of Korea

In 2021, frozen whole chicken imports into South Korea expanded rapidly to X tons, increasing by X% on the previous year. Over the period under review, imports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, frozen whole chicken imports totaled $X in 2021. Overall, imports, however, showed a abrupt contraction. The growth pace was the most rapid in 2014 when imports increased by X%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Brazil (X tons), Australia (X tons) and the Netherlands (X tons) were the main suppliers of frozen whole chicken imports to South Korea, together comprising X% of total imports. These countries were followed by Oman, Japan, Singapore and Taiwan (Chinese), which together accounted for a further X 2012 to 2021, the biggest increases were in Oman (with a CAGR of +X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), Brazil ($X) and the Netherlands ($X) constituted the largest frozen whole chicken suppliers to South Korea, together accounting for X% of total imports. These countries were followed by Oman, Taiwan (Chinese), Singapore and Japan, which together accounted for a further X terms of the main suppliers, Oman, with a CAGR of +X%, saw the highest rates of growth with regard to 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 frozen whole chicken import price stood at $X per ton in 2021, falling by -X% against the previous year. Over the last nine years, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2018 when the average import price increased by X%. The import price peaked at $X per ton in 2020, and then fell in the following year.

Prices varied noticeably countryorigin: the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Japan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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