Republic of Korea: Market for Jams, Jellies, Puree And Pastes 2024

Market Size for Jams, Jellies, Puree And Pastes in Republic of Korea

The South Korean market for jams, jellies, puree and pastes expanded rapidly to $X in 2021, rising by 6.1% against the previous year. Overall, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +44.2% against 2017 indices. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the near future.

Production of Jams, Jellies, Puree And Pastes in Republic of Korea

In value terms, jam, jelly, puree and paste production rose to $X in 2021 estimated in export price. In general, the total production indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.3% against 2019 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 24%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Jams, Jellies, Puree And Pastes

Exports from Republic of Korea

After three years of decline, shipments abroad of jams, jellies, puree and pastes increased by 14% to X tons in 2021. In general, exports saw buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 218% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, jam, jelly, puree and paste exports amounted to $X in 2021. Overall, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2014 when exports increased by 260%. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for jam, jelly, puree and paste exports from South Korea, with a 59% share of total exports. Moreover, jam, jelly, puree and paste exports to Japan exceeded the volume sent to the second major destination, Hong Kong SAR (X tons), fivefold. The third position in this ranking was taken by the United States (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan stood at +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-2.3% per year) and the United States (+15.6% per year).

In value terms, Japan ($X) remains the key foreign market for jams, jellies, puree and pastes exports from South Korea, comprising 55% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with a 12% share of total exports. It was followed by the United States, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value to Japan amounted to +18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-1.9% per year) and the United States (+18.3% per year).

Export Prices by Country

In 2021, the average export price for jams, jellies, puree and pastes amounted to $X per ton, almost unchanged from the previous year. Over the last nine years, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2014 an increase of 13%. Over the period under review, the average export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to the United States ($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 China (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Jams, Jellies, Puree And Pastes

Imports into Republic of Korea

In 2021, imports of jams, jellies, puree and pastes into South Korea soared to X tons, increasing by 61% on the previous year's figure. Over the period under review, imports recorded buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, jam, jelly, puree and paste imports soared to $X in 2021. In general, imports continue to indicate a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Mexico (X tons) and India (X tons) were the main suppliers of jam, jelly, puree and paste imports to South Korea, with a combined 53% share of total imports. These countries were followed by France, the United States, Colombia, Vietnam, Denmark, Chile, Taiwan (Chinese), Turkey and Israel, which together accounted for a further 37%.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +34.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), France ($X) and the United States ($X) constituted the largest jam, jelly, puree and paste suppliers to South Korea, together comprising 57% of total imports. Mexico, Vietnam, Taiwan (Chinese), India, Denmark, Colombia, Turkey, Israel and Chile lagged somewhat behind, together comprising a further 27%.

Among the main suppliers, Turkey, with a CAGR of +35.5%, recorded 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

In 2021, the average import price for jams, jellies, puree and pastes amounted to $X per ton, surging by 17% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2016 an increase of 20% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Chile ($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) (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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