Report Update Nov 1, 2024

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

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Republic of Korea: Sugar Crop Market 2024

Sugar Crop Market Size in Republic of Korea

In 2022, the South Korean sugar crop market increased by X% to $X for the first time since 2016, thus ending a five-year declining trend. Overall, consumption continues to indicate temperate growth. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Sugar Crop Production in Republic of Korea

In value terms, sugar crop production dropped to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

The average yield of sugar crops in South Korea amounted to less than X kg per ha in 2022, almost unchanged from 2021 figures. Overall, 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 crops production in South Korea was estimated at less than X ha, standing approx. at the previous year's figure. Overall, the harvested area recorded a relatively flat trend pattern.

Sugar Crop Exports

Exports from Republic of Korea

In 2022, overseas shipments of sugar crops decreased by X% to X kg for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then plummeted in the following year.

In value terms, sugar crop exports skyrocketed to $X in 2022. In general, exports, however, showed a mild expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

The United States (X kg) was the main destination for sugar crop exports from South Korea, accounting for a approx. X% 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 crops exports from South Korea.

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

Export Prices by Country

The average sugar crop export price stood at $X per ton in 2022, picking up by X% against the previous year. In general, the export price showed a significant expansion. 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 X% per year.

Sugar Crop Imports

Imports into Republic of Korea

In 2022, overseas purchases of sugar crops increased by X% to X tons, rising for the second year in a row after four years of decline. Over the period under review, imports showed a notable expansion. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, sugar crop imports skyrocketed to $X in 2022. In general, imports recorded a strong increase. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest sugar crop supplier to South Korea, accounting for a X% share of total imports. Moreover, sugar crop imports from Vietnam exceeded the figures recorded by the second-largest supplier, Turkey (X tons), ninefold. The third position in this ranking was taken by Cambodia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Vietnam totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Cambodia (X.3% per year).

In value terms, Vietnam ($X) constituted the largest supplier of sugar crops to South Korea, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports. It was followed by Spain, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Vietnam totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Spain (X% per year).

Import Prices by Country

The average sugar crop import price stood at $X per ton in 2022, jumping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), 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 sugar crops in the world?

The countries with the highest volumes of in 2021 were Brazil, India and China, with a combined 58% share of global consumption. Thailand, Pakistan, the United States, Mexico and Russia lagged somewhat behind, together accounting for a further 15%.

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

The countries with the highest volumes of in 2021 were Brazil, India and China, together comprising 58% of global production. These countries were followed by Thailand, Pakistan, the United States, Mexico and Russia, which together accounted for a further 15%.

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

In value terms, Vietnam constituted the largest supplier of sugar crop to South Korea, comprising 62% of total imports. The second position in the ranking was occupied by Turkey, with a 25% share of total imports. It was followed by the United States, with a 6.2% share.

What are the leading importers of sugar crops from Republic of Korea?

In value terms, Sri Lanka remains the key foreign market for sugar crop exports from South Korea.

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

In 2021, the average sugar crop export price amounted to $1,434 per ton, picking up by 28% against the previous year.

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

The average sugar crop import price stood at $658 per ton in 2021, growing by 6.5% against the previous year.

This report provides an in-depth analysis of the sugar crop 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 161 - Sugar crops nes
FCL 156 - Sugar cane
FCL 459 - Chicory roots
FCL 157 - Sugar beet
FCL 461 - Carobs
FCL 460 - Vegetable products, fresh or dry nes

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
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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 2012–2023
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. 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, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023