Report Update Nov 1, 2024

Republic of Korea - Molasses - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Molasse Market 2024

Molasse Market Size in Republic of Korea

In 2022, the South Korean molasse market increased by 15% to $X, rising for the fourth consecutive year after five years of decline. Over the period under review, consumption showed a pronounced curtailment. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Molasse Exports

Exports from Republic of Korea

In 2022, overseas shipments of molasses increased by 55% to X tons, rising for the third year in a row after three years of decline. Over the period under review, exports, however, faced a deep setback. The most prominent rate of growth was recorded in 2015 with an increase of 5,329%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, molasse exports shrank rapidly to $X in 2022. Overall, exports enjoyed a significant expansion. The growth pace was the most rapid in 2015 when exports increased by 5,703% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X kg) and Italy (X kg) were the main destinations of molasse exports from South Korea.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +58.3%).

In value terms, Italy ($X) remains the key foreign market for molasses exports from South Korea, comprising 98% of total exports. The second position in the ranking was taken by the United States ($X), with a 2.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Italy amounted to +74.0%.

Export Prices by Country

The average molasse export price stood at $X per ton in 2022, falling by -52.4% against the previous year. In general, the export price, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 when the average export price increased by 698%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the United States 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 (+164.7%), while the prices for the other major destinations experienced more modest paces of growth.

Molasse Imports

Imports into Republic of Korea

In 2022, the amount of molasses imported into South Korea fell slightly to X tons, with a decrease of -1.6% on the year before. Overall, imports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2021 with an increase of 5.7% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, molasse imports skyrocketed to $X in 2022. In general, imports continue to indicate a mild contraction. The growth pace was the most rapid in 2013 when imports increased by 24% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Indonesia (X tons), Australia (X tons) and India (X tons) were the main suppliers of molasse imports to South Korea, together comprising 83% of total imports. Pakistan, Thailand and Vietnam lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Pakistan (with a CAGR of +421.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest molasse suppliers to South Korea were Indonesia ($X), Australia ($X) and India ($X), together accounting for 83% of total imports.

In terms of the main suppliers, India, with a CAGR of +440.6%, saw the highest growth rate of 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

The average molasse import price stood at $X per ton in 2022, jumping by 20% against the previous year. Over the period under review, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, molasse import price increased by +73.8% against 2018 indices. The pace of growth appeared the most rapid in 2013 an increase of 26% against the previous year. The import price peaked in 2022 and is likely to continue growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Australia ($X per ton) and Indonesia ($X per ton), while the price for Pakistan ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for molasses in the world?

The countries with the highest volumes of in 2021 were India, Brazil and Thailand, together accounting for 50% of global consumption.

What are the largest producers of molasses in the world?

The countries with the highest volumes of in 2021 were India, Brazil and Thailand, with a combined 50% share of global production.

What are the leading suppliers of molasses to Republic of Korea?

In value terms, the largest molasse suppliers to South Korea were India, Australia and Thailand, together comprising 66% of total imports. Indonesia, Fiji, China and Guatemala lagged somewhat behind, together comprising a further 29%.

What is the average export price for molasses in Republic of Korea?

The average molasse export price stood at $843 per ton in 2021, approximately reflecting the previous year.

What is the average import price for molasses in Republic of Korea?

In 2021, the average molasse import price amounted to $151 per ton, surging by 4.3% against the previous year.

This report provides an in-depth analysis of the molasse market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 165 - Molasses

Country coverage:

South Korea

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Republic of Korea
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023