Republic of Korea: Market for Glycosides And Vegetable Alkaloids 2025

Market Size for Glycosides And Vegetable Alkaloids in Republic of Korea

In 2021, the South Korean glycosides and vegetable alkaloids market decreased by -11.4% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption continues to indicate a slight slump. Glycosides and vegetable alkaloids consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Glycosides And Vegetable Alkaloids in Republic of Korea

In value terms, glycosides and vegetable alkaloids production contracted rapidly to $X in 2021 estimated in export price. In general, production recorded a perceptible slump. The most prominent rate of growth was recorded in 2020 with an increase of 57% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Glycosides And Vegetable Alkaloids

Exports from Republic of Korea

In 2021, the amount of glycosides and vegetable alkaloids exported from South Korea skyrocketed to X tons, growing by 19% against 2020 figures. Overall, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 56% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, glycosides and vegetable alkaloids exports rose slightly to $X in 2021. In general, exports showed a significant expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 71% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons), Mexico (X tons) and Singapore (X tons) were the main destinations of glycosides and vegetable alkaloids exports from South Korea, together comprising 55% of total exports. France, Japan, Germany, Italy, the UK, China, Brazil, Pakistan, Argentina and the Czech Republic lagged somewhat behind, together comprising a further 39%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +166.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for glycosides and vegetable alkaloids exported from South Korea were the United States ($X), Mexico ($X) and Japan ($X), together comprising 55% of total exports. These countries were followed by France, Singapore, Germany, Italy, China, the UK, Brazil, Pakistan, Argentina and the Czech Republic, which together accounted for a further 36%.

Brazil, with a CAGR of +212.4%, recorded 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 glycosides and vegetable alkaloids export price stood at $X per ton in 2021, reducing by -12.4% against the previous year. In general, the export price saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2014 when the average export price increased by 12% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Singapore ($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 Argentina (+20.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Glycosides And Vegetable Alkaloids

Imports into Republic of Korea

In 2021, glycosides and vegetable alkaloids imports into South Korea stood at X tons, stabilizing at the previous year's figure. In general, total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -2.4% against 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 30%. Imports peaked at X tons in 2019; afterwards, it flattened through to 2021.

In value terms, glycosides and vegetable alkaloids imports expanded sharply to $X in 2021. Over the period under review, total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +69.2% against 2013 indices. The growth pace was the most rapid in 2014 when imports increased by 21%. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of glycosides and vegetable alkaloids to South Korea, with a 75% share of total imports. Moreover, glycosides and vegetable alkaloids imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. Sweden (X tons) ranked third in terms of total imports with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.3% per year) and Sweden (+237.3% per year).

In value terms, China ($X) constituted the largest supplier of glycosides and vegetable alkaloids to South Korea, comprising 50% of total imports. The second position in the ranking was taken by India ($X), with an 8.4% share of total imports. It was followed by France, with a 5.2% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+0.2% per year) and France (+6.6% per year).

Import Prices by Country

In 2021, the average glycosides and vegetable alkaloids import price amounted to $X per ton, increasing by 8.3% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 13%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+22.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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