Report Update Nov 1, 2024

Republic of Korea - Tomato Juice - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Tomato Juice Market 2024

Tomato Juice Market Size in Republic of Korea

The South Korean tomato juice market contracted sharply to $X in 2022, shrinking by -44% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, enjoyed a slight increase. Tomato juice consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Tomato Juice Exports

Exports from Republic of Korea

In 2022, shipments abroad of tomato juice decreased by -24.1% to X tons for the first time since 2018, thus ending a three-year rising trend. Overall, exports, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2016 with an increase of 515% against the previous year. The exports peaked at X tons in 2021, and then fell significantly in the following year.

In value terms, tomato juice exports reduced rapidly to $X in 2022. Over the period under review, exports, however, enjoyed prominent growth. The growth pace was the most rapid in 2016 when exports increased by 442% against the previous year. Over the period under review, the exports attained the maximum at $X in 2021, and then declined remarkably in the following year.

Exports by Country

Myanmar (X tons) was the main destination for tomato juice exports from South Korea, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Myanmar totaled +66.4%.

In value terms, Myanmar ($X) emerged as the key foreign market for tomato juice exports from South Korea.

From 2012 to 2022, the average annual rate of growth in terms of value to Myanmar stood at +65.0%.

Export Prices by Country

The average tomato juice export price stood at $X per ton in 2022, picking up by 1.5% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 17%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +16.8% per year.

Tomato Juice Imports

Imports into Republic of Korea

In 2022, approx. X tons of tomato juice were imported into South Korea; with an increase of 76% compared with the previous year's figure. In general, imports recorded a notable increase. The pace of growth appeared the most rapid in 2020 with an increase of 525% against the previous year. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, tomato juice imports skyrocketed to $X in 2022. Over the period under review, imports saw a pronounced expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 464%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Italy (X tons), Turkey (X tons) and Germany (X tons) were the main suppliers of tomato juice imports to South Korea, with a combined 39% share of total imports. Cyprus, Spain, Canada, Uzbekistan and the Netherlands lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +197.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tomato juice suppliers to South Korea were Italy ($X), Turkey ($X) and Germany ($X), together comprising 49% of total imports. Cyprus, Spain, Canada, Uzbekistan and the Netherlands lagged somewhat behind, together comprising a further 11%.

Uzbekistan, with a CAGR of +191.5%, saw the highest growth rate of 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 tomato juice import price stood at $X per ton in 2022, reducing by -16.3% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average import price increased by 30%. The import price peaked at $X per ton in 2021, and then reduced sharply in the following year.

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 Turkey ($X per ton), while the price for Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+9.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tomato juice in the world?

The countries with the highest volumes of tomato juice consumption in 2021 were Russia, India and Japan, with a combined 53% share of global consumption.

What are the largest producers of tomato juice in the world?

The countries with the highest volumes of tomato juice production in 2021 were Russia, India and Japan, with a combined 52% share of global production. Canada, Spain, France, the UK, Italy, Afghanistan, China, Turkey and Kenya lagged somewhat behind, together comprising a further 32%.

What are the leading suppliers of tomato juice to Republic of Korea?

In value terms, Malaysia constituted the largest supplier of tomato juice to South Korea, comprising 50% of total imports. The second position in the ranking was occupied by Italy, with a 24% share of total imports. It was followed by Cyprus, with a 9.4% share.

What are the leading importers of tomato juice from Republic of Korea?

In value terms, Japan emerged as the key foreign market for tomato juice exports from South Korea, comprising 78% of total exports. The second position in the ranking was occupied by Russia, with a 7.2% share of total exports. It was followed by China, with a 5.3% share.

What is the average export price for tomato juice in Republic of Korea?

In 2021, the average tomato juice export price amounted to $961 per ton, dropping by -33.6% against the previous year.

What is the average import price for tomato juice in Republic of Korea?

The average tomato juice import price stood at $729 per ton in 2021, falling by -12.2% against the previous year.

This report provides an in-depth analysis of the tomato juice 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 390 - Juice of Tomatoes

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. TOP EXPORTING COUNTRIES
4. 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 VOLUME AND VALUE
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. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023