Republic of Korea: Spinach Market 2025

Spinach Market Size in Republic of Korea

The South Korean spinach market contracted modestly to $X in 2022, flattening at the previous year. Over the period under review, consumption showed a perceptible curtailment. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Spinach Production in Republic of Korea

In value terms, spinach production fell modestly to $X in 2022 estimated in export price. In general, production showed a perceptible decline. The most prominent rate of growth was recorded in 2018 with an increase of 32%. Spinach production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The average yield of spinach in South Korea stood at X tons per ha in 2022, almost unchanged from 2021 figures. In general, the yield, however, recorded a slight curtailment. The most prominent rate of growth was recorded in 2014 with an increase of 4.6%. Over the period under review, the average spinach yield reached the peak level at X tons per ha in 2012; however, from 2013 to 2022, the 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, the total area harvested in terms of spinach production in South Korea shrank modestly to X ha, which is down by -2.2% on 2021 figures. Overall, the harvested area saw a noticeable contraction. The growth pace was the most rapid in 2018 with an increase of 11% against the previous year. Over the period under review, the harvested area dedicated to spinach production attained the peak figure at X ha in 2013; however, from 2014 to 2022, the harvested area remained at a lower figure.

Spinach Exports

Exports from Republic of Korea

In 2022, the amount of spinach exported from South Korea skyrocketed to X tons, jumping by 34% on the year before. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 225%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, spinach exports surged to $X in 2022. In general, exports posted a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 201%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X tons), the United States (X tons) and Singapore (X kg) were the main destinations of spinach exports from South Korea, together comprising 82% 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 Hong Kong SAR (with a CAGR of +153.0%), while the other leaders experienced more modest paces of growth.

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for spinach exports from South Korea, comprising 61% of total exports. The second position in the ranking was taken by the United States ($X), with a 19% share of total exports. It was followed by Singapore, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Hong Kong SAR totaled +181.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+81.2% per year) and Singapore (-2.6% per year).

Export Prices by Country

In 2022, the average spinach export price amounted to $X per ton, remaining stable against the previous year. In general, the export price, however, showed a remarkable increase. The growth pace was the most rapid in 2014 an increase of 45%. The export price peaked at $X per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Vietnam ($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 Marshall Islands (+37.7%), while the prices for the other major destinations experienced more modest paces of growth.

Spinach Imports

Imports into Republic of Korea

In 2022, purchases abroad of spinach decreased by 0% to X kg, falling for the second year in a row after three years of growth. In general, imports continue to indicate a significant increase. The growth pace was the most rapid in 2013 with an increase of 88,200% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, spinach imports amounted to $X in 2022. Overall, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 128,550% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X kg) constituted the largest spinach supplier to South Korea, with a 79% share of total imports. Moreover, spinach imports from Germany exceeded the figures recorded by the second-largest supplier, Australia (X kg), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany was relatively modest.

In value terms, Germany ($X) constituted the largest supplier of spinach to South Korea, comprising 91% of total imports. The second position in the ranking was held by Australia ($X), with a 9.2% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Germany was relatively modest.

Import Prices by Country

In 2022, the average spinach import price amounted to $X per ton, leveling off at the previous year. Over the period under review, the import price posted strong growth. The growth pace was the most rapid in 2015 an increase of 215%. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Australia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.8%).

Source: IndexBox Platform

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