Republic of Korea: Market for Uncooked Pasta (Not Containing Eggs) 2024

Market Size for Uncooked Pasta (Not Containing Eggs) in Republic of Korea

The South Korean market for uncooked pasta (not containing eggs) amounted to $X in 2021, growing by 8.1% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Production of Uncooked Pasta (Not Containing Eggs) in Republic of Korea

In value terms, uncooked pasta (not containing eggs) production rose significantly to $X in 2021 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 73%. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Exports of Uncooked Pasta (Not Containing Eggs)

Exports from Republic of Korea

In 2021, uncooked pasta (not containing eggs) exports from South Korea shrank slightly to X tons, which is down by -2.3% against the previous year's figure. The total export volume increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when exports increased by 13%. Over the period under review, the exports reached the peak figure at X tons in 2020, and then fell modestly in the following year.

In value terms, uncooked pasta (not containing eggs) exports totaled $X in 2021. The total export value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2020 when exports increased by 13% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons) was the main destination for uncooked pasta (not containing eggs) exports from South Korea, with a 37% share of total exports. Moreover, uncooked pasta (not containing eggs) exports to the United States exceeded the volume sent to the second major destination, China (X tons), fourfold. The third position in this ranking was taken by Canada (X tons), with a 7.5% share.

From 2012 to 2021, the average annual growth rate of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+12.5% per year) and Canada (+5.5% per year).

In value terms, the United States ($X) remains the key foreign market for uncooked pasta (not containing eggs) exports from South Korea, comprising 34% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 7.5% share of total exports. It was followed by China, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+17.0% per year) and China (+2.8% per year).

Export Prices by Country

In 2021, the average export price for uncooked pasta (not containing eggs) amounted to $X per ton, picking up by 6.7% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Uncooked Pasta (Not Containing Eggs)

Imports into Republic of Korea

Uncooked pasta (not containing eggs) imports into South Korea expanded significantly to X tons in 2021, with an increase of 9.3% compared with the previous year's figure. The total import volume increased at an average annual rate of +4.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 9.4%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the immediate term.

In value terms, uncooked pasta (not containing eggs) imports rose significantly to $X in 2021. The total import value increased at an average annual rate of +4.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest uncooked pasta (not containing eggs) supplier to South Korea, accounting for a 61% share of total imports. Moreover, uncooked pasta (not containing eggs) imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was taken by Turkey (X tons), with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.2% per year) and Turkey (+7.7% per year).

In value terms, China ($X) constituted the largest supplier of uncooked pasta (not containing eggs) to South Korea, comprising 61% of total imports. The second position in the ranking was taken by Italy ($X), with a 21% share of total imports. It was followed by Thailand, with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.1% per year) and Thailand (+5.3% per year).

Import Prices by Country

The average import price for uncooked pasta (not containing eggs) stood at $X per ton in 2021, picking up by 3.9% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+0.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :