Republic of Korea: Room Deodorants Market 2024

Room Deodorants Market Size in Republic of Korea

The South Korean room deodorants market skyrocketed to $X in 2022, growing by 49% against the previous year. In general, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% 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 +119.4% against 2017 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Room Deodorants Production in Republic of Korea

In value terms, room deodorants production surged to $X in 2022 estimated in export price. Overall, production saw a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 124%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Room Deodorants Exports

Exports from Republic of Korea

In 2022, overseas shipments of preparations for perfuming or deodorising rooms decreased by -65.1% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, enjoyed a slight expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 177%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, room deodorants exports dropped dramatically to $X in 2022. Overall, exports, however, saw a perceptible increase. The pace of growth appeared the most rapid in 2020 with an increase of 86%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for room deodorants exports from South Korea, accounting for a 43% share of total exports. Moreover, room deodorants exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), fourfold. Taiwan (Chinese) (X tons) ranked third in terms of total exports with a 9.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+19.7% per year) and Taiwan (Chinese) (+39.7% per year).

In value terms, the United States ($X), Japan ($X) and Taiwan (Chinese) ($X) were the largest markets for room deodorants exported from South Korea worldwide, with a combined 43% share of total exports.

In terms of the main countries of destination, Taiwan (Chinese), with a CAGR of +37.9%, saw the highest growth rate of 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

In 2022, the average room deodorants export price amounted to $X per ton, rising by 62% against the previous year. Overall, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, room deodorants export price increased by +79.6% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 China ($X per ton), while the average price for exports to Japan ($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 the United States (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Room Deodorants Imports

Imports into Republic of Korea

In 2022, supplies from abroad of preparations for perfuming or deodorising rooms was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, showed a mild decrease. The pace of growth was the most pronounced in 2018 when imports increased by 14%. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, room deodorants imports expanded slightly to $X in 2022. The total import value increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 35% against the previous year. Over the period under review, imports attained the peak figure 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 supplier of room deodorants to South Korea, with a 49% share of total imports. Moreover, room deodorants imports from Vietnam exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Thailand (X tons) ranked third in terms of total imports with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Vietnam stood at -3.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.2% per year) and Thailand (-0.2% per year).

In value terms, the largest room deodorants suppliers to South Korea were China ($X), Vietnam ($X) and Italy ($X), with a combined 49% share of total imports. The United States, Thailand, Japan and India lagged somewhat behind, together accounting for a further 20%.

India, with a CAGR of +26.9%, saw 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 room deodorants import price stood at $X per ton in 2022, growing by 3.9% against the previous year. Over the last decade, it increased at an average annual rate of +4.4%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 36%. The import price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+15.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :