Republic of Korea: Toothpaste Market 2024

Toothpaste Market Size in Republic of Korea

The South Korean toothpaste market reduced to $X in 2021, with a decrease of -7.6% against the previous year. Over the period under review, consumption saw a mild decline. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Toothpaste Production in Republic of Korea

In value terms, toothpaste production declined to $X in 2021 estimated in export price. Overall, production showed a pronounced descent. The pace of growth was the most pronounced in 2018 with an increase of 49%. Toothpaste production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Toothpaste Exports

Exports from Republic of Korea

In 2021, exports of toothpaste, denture cleaners and other dentifrices from South Korea was estimated at X tons, surging by 1.6% against 2020 figures. Over the period under review, exports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2016 when exports increased by 62%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, toothpaste exports reduced to $X in 2021. Overall, exports showed a prominent expansion. The pace of growth appeared the most rapid in 2016 with an increase of 64%. The exports peaked at $X in 2020, and then declined modestly in the following year.

Exports by Country

China (X tons) was the main destination for toothpaste exports from South Korea, with a 52% share of total exports. Moreover, toothpaste exports to China exceeded the volume sent to the second major destination, Russia (X tons), fourfold. The third position in this ranking was held by Vietnam (X tons), with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China amounted to +15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+21.1% per year) and Vietnam (+18.9% per year).

In value terms, China ($X) remains the key foreign market for toothpaste, denture cleaners and other dentifrices exports from South Korea, comprising 51% of total exports. The second position in the ranking was held by Russia ($X), with an 11% share of total exports. It was followed by Vietnam, with a 7.3% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to +15.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+22.9% per year) and Vietnam (+22.9% per year).

Export Prices by Country

The average toothpaste export price stood at $X per ton in 2021, with a decrease of -5.5% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 11%. Over the period under review, the average export prices hit record highs at $X per ton in 2020, and then dropped in the following year.

Average prices varied somewhat for the major overseas markets. In 2021, the countries with the highest prices were Hong Kong SAR ($X per ton) and Malaysia ($X per ton), while the average price for exports to Japan ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Toothpaste Imports

Imports into Republic of Korea

In 2021, approx. X tons of toothpaste, denture cleaners and other dentifrices were imported into South Korea; increasing by 12% compared with 2020. Overall, imports enjoyed a prominent increase. The growth pace was the most rapid in 2017 when imports increased by 58% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, toothpaste imports skyrocketed to $X in 2021. In general, imports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2015 with an increase of 66%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

China (X tons), the United States (X tons) and Thailand (X tons) were the main suppliers of toothpaste imports to South Korea, together accounting for 89% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +78.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), the United States ($X) and China ($X) constituted the largest toothpaste suppliers to South Korea, with a combined 76% share of total imports.

Among the main suppliers, China, with a CAGR of +75.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average toothpaste import price stood at $X per ton in 2021, surging by 8.2% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 15% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+5.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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