Republic of Korea: Tea Market 2025

Tea Market Size in Republic of Korea

The South Korean tea market dropped slightly to $X in 2022, falling by -3.5% against the previous year. In general, consumption, however, continues to indicate strong growth. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Tea Production in Republic of Korea

In value terms, tea production totaled $X in 2022 estimated in export price. In general, production recorded a deep contraction. The most prominent rate of growth was recorded in 2017 when the production volume decreased by -10% against the previous year. Tea production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The average yield of tea in South Korea was estimated at less than X kg per ha in 2022, approximately reflecting the previous year. In general, the yield saw 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 tea harvested area in South Korea amounted to less than X ha, remaining relatively unchanged against the previous year. In general, the harvested area showed a relatively flat trend pattern.

Tea Exports

Exports from Republic of Korea

In 2022, the amount of tea exported from South Korea amounted to X tons, approximately mirroring 2021 figures. The total export volume increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when exports increased by 18%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, tea exports rose markedly to $X in 2022. The total export value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when exports increased by 25% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Egypt (X tons), the United States (X tons) and Hong Kong SAR (X tons) were the main destinations of tea exports from South Korea, together comprising 49% of total exports. Japan, the Netherlands, the United Arab Emirates, Singapore, Taiwan (Chinese), Myanmar, Germany, Canada, China and France lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Taiwan (Chinese) (with a CAGR of +53.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tea exported from South Korea were the United States ($X), Japan ($X) and China ($X), with a combined 61% share of total exports. Germany, Singapore, the Netherlands, France, Egypt, Hong Kong SAR, Canada, Taiwan (Chinese), the United Arab Emirates and Myanmar lagged somewhat behind, together accounting for a further 20%.

Taiwan (Chinese), with a CAGR of +26.0%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tea export price stood at $X per ton in 2022, with an increase of 4.5% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 20%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

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 Japan ($X per ton), while the average price for exports to Myanmar ($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 (+12.6%), while the prices for the other major destinations experienced more modest paces of growth.

Tea Imports

Imports into Republic of Korea

In 2022, imports of tea into South Korea fell modestly to X tons, waning by -4.5% against the previous year. Overall, total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +5.5% against 2020 indices. The pace of growth appeared the most rapid in 2015 with an increase of 73% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, tea imports rose slightly to $X in 2022. In general, imports, however, showed a strong increase. The pace of growth appeared the most rapid in 2018 when imports increased by 31% against the previous year. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

China (X tons), Sri Lanka (X tons) and India (X tons) were the main suppliers of tea imports to South Korea, with a combined 55% share of total imports. Taiwan (Chinese), Indonesia, the United States, Germany, the United Arab Emirates, Poland, Russia, the UK, Pakistan and Thailand lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +127.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Taiwan (Chinese) ($X) and Sri Lanka ($X) appeared to be the largest tea suppliers to South Korea, with a combined 42% share of total imports. The United States, India, Poland, the UK, Germany, the United Arab Emirates, Thailand, Russia, Indonesia and Pakistan lagged somewhat behind, together accounting for a further 42%.

The United Arab Emirates, with a CAGR of +146.0%, 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 tea import price stood at $X per ton in 2022, growing by 6.4% against the previous year. Over the period under review, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tea import price decreased by -6.7% against 2020 indices. The growth pace was the most rapid in 2017 when the average import price increased by 52%. Over the period under review, average import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+32.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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