Republic of Korea: Market for Jellyfish, Dried, Salted Or In Brine, Smoked 2024

Market Size for Jellyfish, Dried, Salted Or In Brine, Smoked in Republic of Korea

The South Korean market for jellyfish, dried, salted or in brine, smoked fell significantly to $X in 2022, reducing by -21.4% against the previous year. Overall, consumption saw a abrupt downturn. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Production of Jellyfish, Dried, Salted Or In Brine, Smoked in Republic of Korea

In value terms, production of jellyfish, dried, salted or in brine, smoked amounted to $X in 2022 estimated in export price. In general, production saw a slight increase. The growth pace was the most rapid in 2020 when the production volume increased by 85%. Production of peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Exports of Jellyfish, Dried, Salted Or In Brine, Smoked

Exports from Republic of Korea

In 2022, the amount of jellyfish, dried, salted or in brine, smoked exported from South Korea surged to X tons, rising by 70% against 2021. In general, exports recorded a significant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 1,647% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, exports of jellyfish, dried, salted or in brine, smoked surged to $X in 2022. Overall, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 1,557% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

China (X tons) was the main destination for exports of jellyfish, dried, salted or in brine, smoked from South Korea, accounting for a 100% share of total exports. It was followed by Vietnam (X kg), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to China totaled +109.5%.

In value terms, China ($X) remains the key foreign market for jellyfish, dried, salted or in brine, smoked exports from South Korea, comprising 99% of total exports. The second position in the ranking was held by Vietnam ($X), with less than 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China stood at +91.2%.

Export Prices by Country

The average export price for jellyfish, dried, salted or in brine, smoked stood at $X per ton in 2022, stabilizing at the previous year. Over the period under review, the export price, however, continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2020 when the average export price increased by 29%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+1.7%).

Imports of Jellyfish, Dried, Salted Or In Brine, Smoked

Imports into Republic of Korea

In 2022, approx. X tons of jellyfish, dried, salted or in brine, smoked were imported into South Korea; surging by 45% on the previous year's figure. Overall, imports enjoyed a resilient increase. The growth pace was the most rapid in 2021 when imports increased by 154%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, imports of jellyfish, dried, salted or in brine, smoked surged to $X in 2022. Over the period under review, imports enjoyed resilient growth. The growth pace was the most rapid in 2021 with an increase of 74%. Over the period under review, imports of reached the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Mexico (X tons) constituted the largest supplier of jellyfish, dried, salted or in brine, smoked to South Korea, accounting for a 78% share of total imports. Moreover, imports of jellyfish, dried, salted or in brine, smoked from Mexico exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume from Mexico stood at +310.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-2.3% per year) and China (+4.3% per year).

In value terms, Mexico ($X) constituted the largest supplier of jellyfish, dried, salted or in brine, smoked to South Korea, comprising 63% of total imports. The second position in the ranking was held by Thailand ($X), with a 25% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Mexico totaled +248.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (-3.4% per year) and China (+5.1% per year).

Import Prices by Country

In 2022, the average import price for jellyfish, dried, salted or in brine, smoked amounted to $X per ton, dropping by -16.8% against the previous year. In general, the import price recorded a abrupt contraction. The pace of growth appeared the most rapid in 2020 when the average import price increased by 18% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+0.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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