Republic of Korea: Nuts Market 2025

Nuts Market Size in Republic of Korea

The South Korean nuts market amounted to $X in 2022, therefore, remained relatively stable against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Nuts Production in Republic of Korea

In value terms, nuts production rose sharply to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

In 2022, the average yield of nuts in South Korea dropped modestly to X tons per ha, flattening at the previous year. In general, the yield showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, the yield reached the peak level of X tons per ha. From 2019 to 2022, the growth of the average nuts yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of nuts were harvested in South Korea; remaining relatively unchanged against the previous year. Over the period under review, the harvested area, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to nuts production attained the peak figure at X ha in 2013; however, from 2014 to 2022, the harvested area stood at a somewhat lower figure.

Nuts Exports

Exports from Republic of Korea

Nuts exports from South Korea reduced to X tons in 2022, shrinking by X% compared with 2021. In general, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, nuts exports declined sharply to $X in 2022. Over the period under review, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for nuts exports from South Korea, with a X% share of total exports. Moreover, nuts exports to China exceeded the volume sent to the second major destination, the United States (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to China amounted to X%.

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

From 2012 to 2022, the average annual rate of growth in terms of value to China stood at X%.

Export Prices by Country

In 2022, the average nuts export price amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average 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 the United States ($X per ton), while the average price for exports to China amounted to $X per ton.

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

Nuts Imports

Imports into Republic of Korea

In 2022, overseas purchases of nuts decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of X tons, and then declined rapidly in the following year.

In value terms, nuts imports declined remarkably to $X in 2022. Over the period under review, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then declined markedly in the following year.

Imports by Country

China (X tons), the United States (X tons) and Australia (X tons) were the main suppliers of nuts imports to South Korea, with a combined X% share of total imports.

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

In value terms, the largest nuts suppliers to South Korea were the United States ($X), Australia ($X) and China ($X), together accounting for X% of total imports.

Australia, with a CAGR of X%, recorded 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

The average nuts import price stood at $X per ton in 2022, which is down by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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