Republic of Korea: Piper Pepper Market 2025

Piper Pepper Market Size in Republic of Korea

In 2022, the South Korean piper pepper market increased by 12% to $X, rising for the fourth year in a row after three years of decline. Over the period under review, the total consumption indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +43.5% against 2018 indices. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Piper Pepper Exports

Exports from Republic of Korea

Piper pepper exports from South Korea rose modestly to X tons in 2022, surging by 3.8% on 2021. In general, exports posted prominent growth. The growth pace was the most rapid in 2017 with an increase of 129% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, piper pepper exports expanded rapidly to $X in 2022. Over the period under review, exports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of 193%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Kazakhstan (X tons), Vietnam (X tons) and the United States (X tons) were the main destinations of piper pepper exports from South Korea, with a combined 65% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kazakhstan (with a CAGR of +145.4%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for piper pepper exports from South Korea, comprising 33% of total exports. The second position in the ranking was held by Kazakhstan ($X), with a 14% share of total exports. It was followed by Vietnam, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at +57.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+109.4% per year) and Vietnam (+5.0% per year).

Export Prices by Country

The average piper pepper export price stood at $X per ton in 2022, growing by 1.5% against the previous year. In general, the export price continues to indicate strong growth. The pace of growth appeared the most rapid in 2014 an increase of 99% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Piper Pepper Imports

Imports into Republic of Korea

In 2022, piper pepper imports into South Korea was estimated at X tons, picking up by 4.5% compared with 2021. In general, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.0% against 2013 indices. The pace of growth was the most pronounced in 2019 with an increase of 17% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, piper pepper imports soared to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 34% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest piper pepper supplier to South Korea, accounting for a 89% share of total imports. Moreover, piper pepper imports from Vietnam exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Vietnam stood at +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-12.2% per year) and Indonesia (-0.2% per year).

In value terms, Vietnam ($X) constituted the largest supplier of piper pepper to South Korea, comprising 85% of total imports. The second position in the ranking was held by Malaysia ($X), with a 6.9% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Vietnam stood at +5.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-13.8% per year) and Indonesia (-4.9% per year).

Import Prices by Country

The average piper pepper import price stood at $X per ton in 2022, growing by 11% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced setback. The pace of growth appeared the most rapid in 2021 when the average import price increased by 39% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (-1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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