Report Update Nov 1, 2024

Republic of Korea - Pig Meat Salted (Salted, in Brine, Dried or Smoked) - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Preserved Pork Market 2021

Preserved Pork Market Size in Republic of Korea

The South Korean preserved pork market reached $X in 2020, growing by X% against the previous year. Overall, consumption recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2009 with an increase of X% against the previous year. As a result, consumption attained the peak level of $X. from 2010 to 2020, the growth of the market remained at a somewhat lower figure.

Preserved Pork Production in Republic of Korea

In value terms, preserved pork production stood at $X in 2020 estimated in export prices. Overall, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2009 with an increase of X% against the previous year. As a result, production attained the peak level of $X. from 2010 to 2020, production growth remained at a somewhat lower figure.

Preserved Pork Exports

Exports from Republic of Korea

In 2020, approx. X tons of pig meat salted (salted, in brine, dried or smoked) were exported from South Korea; surging by X% compared with the previous year's figure. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2011 when exports increased by X% year-to-year. Exports peaked in 2020 and are expected to retain growth in the immediate term.

In value terms, preserved pork exports soared to $X in 2020. Overall, exports posted a significant increase. The growth pace was the most rapid in 2008 when exports increased by X% year-to-year. Over the period under review, exports hit record highs in 2020 and are likely to see steady growth in the immediate term.

Exports by Country

Hong Kong SAR (X tons) was the main destination for preserved pork exports from South Korea, with a X% share of total exports. Moreover, preserved pork exports to Hong Kong SAR exceeded the volume sent to the second major destination, the Philippines (X tons), more than tenfold.

From 2007 to 2020, the average annual rate of growth in terms of volume to Hong Kong SAR stood at +X%.

From 2007 to 2020, the average annual growth rate of value to Hong Kong SAR totaled +X%.

Export Prices by Country

The average preserved pork export price stood at $X per ton in 2020, shrinking by -X% against the previous year. Over the period under review, the export price continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2012 an increase of X% y-o-y. Over the period under review, average export prices attained the maximum at $X per ton in 2009; however, from 2010 to 2020, export prices failed to regain the momentum.

Average prices varied somewhat for the major export markets. In 2020, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to the Philippines stood at $X per ton.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines.

Preserved Pork Imports

Imports into Republic of Korea

Preserved pork imports into South Korea declined remarkably to X tons in 2020, falling by -X% compared with the previous year. In general, imports, however, continue to indicate a mild expansion. The pace of growth was the most pronounced in 2016 when imports increased by X% y-o-y. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2020, imports remained at a lower figure.

In value terms, preserved pork imports fell modestly to $X in 2020. Overall, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by X% year-to-year. Imports peaked at $X in 2019, and then declined modestly in the following year.

Imports by Country

Spain (X tons), Italy (X tons) and the U.S. (X tons) were the main suppliers of preserved pork imports to South Korea, with a combined X% share of total imports. These countries were followed by Austria, which accounted for a further X 2007 to 2020, the biggest increases were in Austria (+X% per year), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest preserved pork suppliers to South Korea were Spain ($X), Italy ($X) and Austria ($X), with a combined X% share of total imports.

In terms of the main suppliers, Austria (+X% per year) 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 preserved pork import price stood at $X per ton in 2020, jumping by X% against the previous year. Over the period under review, the import price showed resilient growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by the country of origin; the country with the highest price was Spain ($X per ton), while the price for the U.S. ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Spain, 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 pig meat salted (salted, in brine, dried or smoked) in the world?

China remains the largest preserved pork consuming country worldwide, comprising approx. 17% of total volume. Moreover, preserved pork consumption in China exceeded the figures recorded by the second-largest consumer, the U.S., twofold. The third position in this ranking was occupied by India, with a 6.7% share.

What are the largest producers of pig meat salted (salted, in brine, dried or smoked) in the world?

China remains the largest preserved pork producing country worldwide, accounting for 17% of total volume. Moreover, preserved pork production in China exceeded the figures recorded by the second-largest producer, the U.S., twofold. India ranked third in terms of total production with a 6.7% share.

What are the leading suppliers of pig meat salted (salted, in brine, dried or smoked) to Republic of Korea?

In value terms, the largest preserved pork suppliers to South Korea were Spain, Italy and Austria, together accounting for 99% of total imports.

What is the average export price for pig meat salted (salted, in brine, dried or smoked) in Republic of Korea?

The average preserved pork export price stood at $3,196 per ton in 2020, dropping by -54.6% against the previous year.

What is the average import price for pig meat salted (salted, in brine, dried or smoked) in Republic of Korea?

The average preserved pork import price stood at $31,449 per ton in 2020, picking up by 257% against the previous year.

This report provides an in-depth analysis of the preserved pork 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 2025.

Product coverage:

Prodcom 10131180 - Pig meat salted, in brine, dried or smoked (including bacon, 3/4 sides/middles, fore-ends, loins and cuts thereof, excluding hams, shoulders and cuts thereof with bone in, bellies and cuts thereof)

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