Report Update Feb 1, 2025

Republic of Korea - Sugar Beet - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Sugar Beet Market 2025

Sugar Beet Market Size in Republic of Korea

In 2022, after two years of decline, there was significant growth in the South Korean sugar beet market, when its value increased by 21% to $X. In general, the total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Sugar Beet Production in Republic of Korea

In value terms, sugar beet production declined to $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 40%. Sugar beet production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

The average yield of sugar beet in South Korea amounted to less than X kg per ha in 2022, standing approx. at the previous year. In general, the yield continues to indicate a relatively flat trend pattern. 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 sugar beet production in South Korea totaled less than X ha, approximately equating 2021. Over the period under review, the harvested area showed a relatively flat trend pattern.

Sugar Beet Exports

Exports from Republic of Korea

In 2022, overseas shipments of sugar beet decreased by -89% to X kg for the first time since 2019, thus ending a two-year rising trend. In general, exports saw a deep setback. The growth pace was the most rapid in 2017 with an increase of 417% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then contracted remarkably in the following year.

In value terms, sugar beet exports skyrocketed to $X in 2022. Over the period under review, exports, however, posted a mild expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 729%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The United States (X kg) was the main destination for sugar beet exports from South Korea, accounting for a approx. 100% share of total exports.

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

In value terms, the United States ($X) emerged as the key foreign market for sugar beet exports from South Korea.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States was relatively modest.

Export Prices by Country

The average sugar beet export price stood at $X per ton in 2022, jumping by 1,014% against the previous year. Overall, the export price posted a significant increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for Algeria amounted to +68.0% per year.

Sugar Beet Imports

Imports into Republic of Korea

Sugar beet imports into South Korea declined remarkably to X kg in 2022, which is down by -78.1% compared with 2021 figures. Over the period under review, imports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of 174% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sugar beet imports declined dramatically to $X in 2022. In general, imports continue to indicate a slight setback. The most prominent rate of growth was recorded in 2017 with an increase of 139% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X kg) was the main supplier of sugar beet to South Korea, accounting for a approx. 100% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +48.1%.

In value terms, China ($X) constituted the largest supplier of sugar beet to South Korea.

From 2012 to 2022, the average annual growth rate of value from China amounted to +39.4%.

Import Prices by Country

The average sugar beet import price stood at $X per ton in 2022, increasing by 228% against the previous year. Overall, the import price enjoyed a resilient increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -3.2% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for sugar beet in the world?

The countries with the highest volumes of sugar beet consumption in 2020 were Russia, the United States and Germany, together accounting for 37% of global consumption. France, Turkey, Poland, Egypt, China, Ukraine, the Netherlands, Iran, the UK and Belgium lagged somewhat behind, together accounting for a further 48%.

What are the largest producers of sugar beet in the world?

The countries with the highest volumes of sugar beet production in 2020 were Russia, the United States and Germany, with a combined 37% share of global production. France, Turkey, Poland, Egypt, China, Ukraine, the Netherlands, Iran, the UK and Belgium lagged somewhat behind, together comprising a further 48%.

What are the leading suppliers of sugar beet to Republic of Korea?

In value terms, China constituted the largest supplier of sugar beet to South Korea.

What is the average export price for sugar beet in Republic of Korea?

In 2018, the average sugar beet export price amounted to $3,585 per ton, increasing by 75% against the previous year.

What is the average import price for sugar beet in Republic of Korea?

In 2020, the average sugar beet import price amounted to $3,133 per ton, remaining stable against the previous year.

This report provides an in-depth analysis of the sugar beet 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 2030.

Product coverage:

FCL 157 - Sugar beet

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. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. 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, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2024
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2024
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 2024
2. Market Volume, In Physical Terms, 2012–2024
3. Market Value, 2012–2024
4. Per Capita Consumption In 2012-2024
5. Imports, In Physical Terms, By Country, 2012–2024
6. Imports, In Value Terms, By Country, 2012–2024
7. Import Prices, By Country Of Origin, 2012–2024
8. Exports, In Physical Terms, By Country, 2012–2024
9. Exports, In Value Terms, By Country, 2012–2024
10. Export Prices, By Country Of Destination, 2012–2024
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2024
2. Market Value, 2012–2024
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
5. Trade Balance, In Physical Terms, 2012-2024
6. Trade Balance, In Value Terms, 2012-2024
7. Per Capita Consumption, 2012-2024
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. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2024
23. Production, In Value Terms, 2012–2024
24. Area Harvested, 2012–2024
25. Yield, 2012–2024
26. Imports, In Physical Terms, 2012–2024
27. Imports, In Value Terms, 2012–2024
28. Imports, In Physical Terms, By Country, 2024
29. Imports, In Physical Terms, By Country, 2012–2024
30. Imports, In Value Terms, By Country, 2012–2024
31. Import Prices, By Country Of Origin, 2012–2024
32. Exports, In Physical Terms, 2012–2024
33. Exports, In Value Terms, 2012–2024
34. Exports, In Physical Terms, By Country, 2024
35. Exports, In Physical Terms, By Country, 2012–2024
36. Exports, In Value Terms, By Country, 2012–2024
37. Export Prices, By Country Of Destination, 2012–2024