Report Update Nov 1, 2024

Republic of Korea - Frozen Whole Turkeys - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Frozen Whole Turkey Market 2024

Frozen Whole Turkey Market Size in Republic of Korea

The South Korean frozen whole turkey market dropped sharply to $X in 2022, with a decrease of -75.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption faced a deep downturn. Frozen whole turkey consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Frozen Whole Turkey Exports

Exports from Republic of Korea

In 2022, the amount of frozen whole turkeys exported from South Korea dropped to X tons, falling by -6.9% on 2021. Over the period under review, exports showed a sharp decrease. The pace of growth was the most pronounced in 2021 when exports increased by 16%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen whole turkey exports fell to $X in 2022. Overall, exports showed a precipitous slump. The growth pace was the most rapid in 2021 when exports increased by 13% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Vietnam (X tons) was the main destination for frozen whole turkey exports from South Korea, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Vietnam stood at -42.6%.

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

From 2012 to 2022, the average annual growth rate of value to Vietnam totaled -39.4%.

Export Prices by Country

In 2022, the average frozen whole turkey export price amounted to $X per ton, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of +5.7%. The most prominent rate of growth was recorded in 2013 an increase of 40%. The export price peaked at $X per ton in 2020; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the rate of growth in terms of prices for Vietnam amounted to +5.7% per year.

Frozen Whole Turkey Imports

Imports into Republic of Korea

Frozen whole turkey imports into South Korea declined dramatically to X tons in 2022, reducing by -75.5% against the previous year. In general, imports continue to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2021 with an increase of 383% against the previous year. As a result, imports attained the peak of X tons, and then reduced sharply in the following year.

In value terms, frozen whole turkey imports plummeted to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 453% against the previous year. As a result, imports attained the peak of $X, and then dropped significantly in the following year.

Imports by Country

In 2022, Australia (X tons) was the main supplier of frozen whole turkey to South Korea, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Australia totaled +10.8%.

In value terms, Australia ($X) constituted the largest supplier of frozen whole turkeys to South Korea.

From 2012 to 2022, the average annual growth rate of value from Australia totaled +20.5%.

Import Prices by Country

In 2022, the average frozen whole turkey import price amounted to $X per ton, rising by 12% against the previous year. Overall, import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +9.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen whole turkey import price increased by +28.3% against 2020 indices. The growth pace was the most rapid in 2013 when the average import price increased by 58% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Australia.

From 2012 to 2022, the rate of growth in terms of prices for France amounted to +17.7% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for frozen whole turkeys in the world?

China constituted the country with the largest volume of frozen whole turkey consumption, accounting for 20% of total volume. Moreover, frozen whole turkey consumption in China exceeded the figures recorded by the second-largest consumer, the U.S., twofold. India ranked third in terms of total consumption with a 8.2% share.

What are the largest producers of frozen whole turkeys in the world?

The countries with the highest volumes of frozen whole turkey production in 2019 were the U.S., China and India, together comprising 49% of global production. France, Pakistan, Germany, Brazil, Canada, the UK, Italy, Turkey, Spain and South Korea lagged somewhat behind, together comprising a further 32%.

What are the leading suppliers of frozen whole turkeys to Republic of Korea?

In value terms, Australia constituted the largest supplier of frozen whole turkey to South Korea, comprising 68% of total imports. The second position in the ranking was occupied by Chile, with a 11% share of total imports. It was followed by the U.S., with a 11% share.

What are the leading importers of frozen whole turkeys from Republic of Korea?

In value terms, Vietnam remains the key foreign market for frozen whole turkey exports from South Korea.

What is the average export price for frozen whole turkeys in Republic of Korea?

In 2019, the average frozen whole turkey export price amounted to $3,187 per ton, surging by 2.7% against the previous year.

What is the average import price for frozen whole turkeys in Republic of Korea?

The average frozen whole turkey import price stood at $4,124 per ton in 2019, falling by -15.5% against the previous year.

This report provides an in-depth analysis of the frozen whole turkey 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 10122015 - Frozen whole turkeys

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. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. 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, PRODUCING ANIMALS AND YIELD
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. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Producing Animals Slaughtered, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023