Republic of Korea: Animal Guts Market 2025

Animal Guts Market Size in Republic of Korea

The South Korean animal guts market amounted to $X in 2022, approximately mirroring the previous year. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Animal Guts Production in Republic of Korea

In value terms, animal guts production reduced to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible descent. The most prominent rate of growth was recorded in 2016 with an increase of 69%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Animal Guts Exports

Exports from Republic of Korea

In 2022, the amount of guts, bladders and stomachs of animals exported from South Korea surged to X tons, increasing by 85% on the previous year. Overall, exports, however, continue to indicate a noticeable setback. The growth pace was the most rapid in 2013 with an increase of 948% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, animal guts exports soared to $X in 2022. Over the period under review, exports showed resilient growth. The pace of growth was the most pronounced in 2013 with an increase of 821% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Albania (X tons) was the main destination for animal guts exports from South Korea, accounting for a approx. 99% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Albania totaled +83.5%.

In value terms, Albania ($X) also remains the key foreign market for guts, bladders and stomachs of animals exports from South Korea.

From 2012 to 2022, the average annual growth rate of value to Albania totaled +38.5%.

Export Prices by Country

In 2022, the average animal guts export price amounted to $X per ton, reducing by -24.6% against the previous year. Over the period under review, the export price, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 145%. As a result, the export price reached the peak level of $X per ton, and then contracted remarkably in the following year.

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

From 2012 to 2022, the rate of growth in terms of prices for Vietnam amounted to +6.1% per year.

Animal Guts Imports

Imports into Republic of Korea

In 2022, overseas purchases of guts, bladders and stomachs of animals decreased by -5.4% to X tons, falling for the third consecutive year after four years of growth. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 45% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, animal guts imports amounted to $X in 2022. In general, imports, however, posted perceptible growth. The growth pace was the most rapid in 2018 with an increase of 83%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Australia (X tons), the United States (X tons) and Spain (X tons) were the main suppliers of animal guts imports to South Korea, together comprising 74% of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +12.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest animal guts suppliers to South Korea were the United States ($X), Australia ($X) and Spain ($X), with a combined 75% share of total imports. New Zealand, Mexico, the Netherlands and Chile lagged somewhat behind, together accounting for a further 19%.

Mexico, with a CAGR of +19.1%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average animal guts import price amounted to $X per ton, picking up by 14% against the previous year. Over the period under review, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, animal guts import price increased by +26.1% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of 28%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Australia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+8.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :