Republic of Korea: Market for Homogenised Preparations Of Jams, Fruit Jellies And Marmalades 2024

Market Size for Homogenised Preparations Of Jams, Fruit Jellies And Marmalades in Republic of Korea

The South Korean homogenised jam and marmalade market contracted to $X in 2022, waning by -8.2% against the previous year. In general, the total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +9.9% against 2020 indices. Homogenised jam and marmalade consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Homogenised Preparations Of Jams, Fruit Jellies And Marmalades in Republic of Korea

In value terms, homogenised jam and marmalade production reduced to $X in 2022 estimated in export price. Overall, the total production indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +10.2% against 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of 43% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Homogenised Preparations Of Jams, Fruit Jellies And Marmalades

Exports from Republic of Korea

After three years of growth, shipments abroad of homogenised preparations of jams, fruit jellies and marmalades decreased by -62.5% to X tons in 2022. In general, exports faced a significant curtailment. The pace of growth appeared the most rapid in 2021 when exports increased by 1,872% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, homogenised jam and marmalade exports reduced notably to $X in 2022. Over the period under review, exports recorded a deep slump. The pace of growth was the most pronounced in 2020 when exports increased by 626%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The Philippines (X tons), China (X tons) and Taiwan (Chinese) (X tons) were the main destinations of homogenised jam and marmalade exports from South Korea, together accounting for 87% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +105.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Taiwan (Chinese) ($X) and the Philippines ($X) appeared to be the largest markets for homogenised jam and marmalade exported from South Korea worldwide, with a combined 68% share of total exports.

The Philippines, with a CAGR of +104.7%, saw the highest rates of growth with regard to 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 homogenised jam and marmalade export price stood at $X per ton in 2022, rising by 13% against the previous year. Overall, the export price continues to indicate a prominent expansion. The pace of growth was the most pronounced in 2020 an increase of 281% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+25.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Homogenised Preparations Of Jams, Fruit Jellies And Marmalades

Imports into Republic of Korea

In 2022, supplies from abroad of homogenised preparations of jams, fruit jellies and marmalades was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Over the period under review, imports posted a measured increase. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, homogenised jam and marmalade imports soared to $X in 2022. Overall, imports, however, saw a mild setback. The pace of growth appeared the most rapid in 2013 when imports increased by 50%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Italy (X tons) constituted the largest homogenised jam and marmalade supplier to South Korea, with a 81% share of total imports. Moreover, homogenised jam and marmalade imports from Italy exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. Spain (X tons) ranked third in terms of total imports with a 4.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy amounted to +210.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+72.5% per year) and Spain (+121.3% per year).

In value terms, Italy ($X) constituted the largest supplier of homogenised preparations of jams, fruit jellies and marmalades to South Korea, comprising 72% of total imports. The second position in the ranking was taken by Spain ($X), with an 8% share of total imports. It was followed by China, with a 5.3% share.

From 2012 to 2022, the average annual growth rate of value from Italy stood at +177.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+124.8% per year) and China (+46.7% per year).

Import Prices by Country

The average homogenised jam and marmalade import price stood at $X per ton in 2022, shrinking by -19.8% against the previous year. In general, the import price showed a abrupt decline. The most prominent rate of growth was recorded in 2018 when the average import price increased by 37%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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