Republic of Korea: Market for Paper Trays, Dishes, Plates And Cups 2024

Market Size for Paper Trays, Dishes, Plates And Cups in Republic of Korea

The South Korean paper dishes and cups market reduced to $X in 2021, which is down by -6.3% against the previous year. Over the period under review, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +18.6% against 2019 indices. As a result, consumption reached the peak level of $X, and then declined in the following year.

Production of Paper Trays, Dishes, Plates And Cups in Republic of Korea

In value terms, paper dishes and cups production shrank to $X in 2021 estimated in export price. In general, the total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +7.9% against 2019 indices. The pace of growth appeared the most rapid in 2016 when the production volume increased by 22%. Over the period under review, production attained the peak level at $X in 2020, and then fell in the following year.

Exports of Paper Trays, Dishes, Plates And Cups

Exports from Republic of Korea

Paper dishes and cups exports from South Korea expanded rapidly to X tons in 2021, growing by 12% on the previous year. The total export volume increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when exports increased by 13% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, paper dishes and cups exports rose rapidly to $X in 2021. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 19% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for paper dishes and cups exports from South Korea, accounting for a 60% share of total exports. Moreover, paper dishes and cups exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), twofold. The Netherlands (X tons) ranked third in terms of total exports with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume to Japan amounted to +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+10.9% per year) and the Netherlands (+4.9% per year).

In value terms, Japan ($X), the United States ($X) and the Netherlands ($X) were the largest markets for paper dishes and cups exported from South Korea worldwide, together accounting for 91% of total exports. Vietnam lagged somewhat behind, accounting for a further 2.1%.

In terms of the main countries of destination, Vietnam, with a CAGR of +36.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average paper dishes and cups export price stood at $X per ton in 2021, standing approx. at the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 7.4%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the Netherlands ($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 the United States (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Paper Trays, Dishes, Plates And Cups

Imports into Republic of Korea

In 2021, supplies from abroad of paper trays, dishes, plates and cups increased by 59% to X tons, rising for the fourth consecutive year after three years of decline. Over the period under review, imports showed a resilient expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 64% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, paper dishes and cups imports surged to $X in 2021. Overall, imports saw a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 199% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest paper dishes and cups supplier to South Korea, with a 61% share of total imports. Moreover, paper dishes and cups imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Vietnam (X tons) ranked third in terms of total imports with a 6.7% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +19.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+4.9% per year) and Vietnam (+80.0% per year).

In value terms, China ($X) constituted the largest supplier of paper trays, dishes, plates and cups to South Korea, comprising 56% of total imports. The second position in the ranking was taken by the United States ($X), with a 26% share of total imports. It was followed by Vietnam, with a 4.3% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +28.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+16.3% per year) and Vietnam (+85.0% per year).

Import Prices by Country

In 2021, the average paper dishes and cups import price amounted to $X per ton, picking up by 6.2% against the previous year. Over the last nine-year period, it increased at an average annual rate of +7.1%. The pace of growth was the most pronounced in 2013 when the average import price increased by 83%. Over the period under review, average import prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+10.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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