Republic of Korea: Market for Jams, Marmalades, Fruit Jellies, Fruit Or Nut Purees And Pastes 2024

Market Size for Jams, Marmalades, Fruit Jellies, Fruit Or Nut Purees And Pastes in Republic of Korea

The South Korean fruit or nut preserves market rose sharply to $X in 2021, increasing by 11% against the previous year. Overall, consumption saw prominent growth. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Jams, Marmalades, Fruit Jellies, Fruit Or Nut Purees And Pastes in Republic of Korea

In value terms, fruit or nut preserves production rose significantly to $X in 2021 estimated in export price. Over the period under review, production enjoyed a strong expansion. The pace of growth appeared the most rapid in 2014 with an increase of 68% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Jams, Marmalades, Fruit Jellies, Fruit Or Nut Purees And Pastes

Exports from Republic of Korea

In 2021, the amount of jams, marmalades, fruit jellies, fruit or nut purees and pastes exported from South Korea surged to X tons, growing by 34% on 2020. In general, exports, however, continue to indicate a noticeable shrinkage. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, fruit or nut preserves exports skyrocketed to $X in 2021. Over the period under review, total exports indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -24.4% against 2019 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 33%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Hong Kong SAR (X tons), the United States (X tons) and Singapore (X tons) were the main destinations of fruit or nut preserves exports from South Korea, with a combined 77% share of total exports. These countries were followed by China, Malaysia, the Philippines, Canada, Japan and Russia, which together accounted for a further 15%.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +75.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fruit or nut preserves exported from South Korea were Hong Kong SAR ($X), the United States ($X) and China ($X), with a combined 65% share of total exports. Singapore, Malaysia, Canada, the Philippines, Russia and Japan lagged somewhat behind, together accounting for a further 22%.

Canada, with a CAGR of +77.3%, recorded the highest growth rate of the value of exports, among 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

In 2021, the average fruit or nut preserves export price amounted to $X per ton, falling by -9.7% against the previous year. Over the period under review, export price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fruit or nut preserves export price decreased by -14.8% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of 18% against the previous year. The export price peaked 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 overseas markets. In 2021, amid the top suppliers, 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, Marmalades, Fruit Jellies, Fruit Or Nut Purees And Pastes

Imports into Republic of Korea

In 2021, fruit or nut preserves imports into South Korea surged to X tons, with an increase of 62% on the previous year's figure. Over the period under review, imports posted a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, fruit or nut preserves imports surged to $X in 2021. Overall, imports continue to indicate a prominent expansion. As a result, imports attained 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 fruit or nut preserves imports to South Korea, together comprising 54% of total imports. France, the United States, Colombia, Vietnam, Denmark, Chile, Taiwan (Chinese), Turkey and Israel lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +66.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fruit or nut preserves suppliers to South Korea were China ($X), France ($X) and the United States ($X), together accounting for 57% of total imports. Mexico, Vietnam, Taiwan (Chinese), India, Denmark, Colombia, Turkey, Israel and Chile lagged somewhat behind, together accounting for a further 27%.

Taiwan (Chinese), with a CAGR of +73.2%, saw the highest rates of growth with regard to the value of imports, in terms of 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 2021, the average fruit or nut preserves import price amounted to $X per ton, growing by 18% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.2%. The pace of growth was the most pronounced in 2016 an increase of 19%. Over the period under review, average import prices attained the maximum in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, 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) (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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