Report Update Nov 1, 2024

Republic of Korea - Wheat Gluten - Market Analysis, Forecast, Size, Trends and Insights

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Republic of Korea: Wheat Gluten Market 2024

Wheat Gluten Market Size in Republic of Korea

The South Korean wheat gluten market soared to $X in 2022, picking up by 50% 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). In general, consumption showed significant growth. Over the period under review, the market reached the peak level in 2022 and is likely to continue growth in years to come.

Wheat Gluten Exports

Exports from Republic of Korea

In 2022, shipments abroad of wheat gluten decreased by -97.7% to X tons, falling for the eighth year in a row after three years of growth. Over the period under review, exports showed a precipitous descent. The pace of growth appeared the most rapid in 2013 when exports increased by 9.2% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, wheat gluten exports declined dramatically to $X in 2022. In general, exports showed a dramatic shrinkage. The growth pace was the most rapid in 2020 when exports increased by 3.1% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Vietnam (X tons) was the main destination for wheat gluten exports from South Korea, with a 72% share of total exports. Moreover, wheat gluten exports to Vietnam exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Vietnam amounted to +81.1%.

In value terms, Vietnam ($X) remains the key foreign market for wheat gluten exports from South Korea, comprising 72% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 28% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Vietnam totaled +59.8%.

Export Prices by Country

In 2022, the average wheat gluten export price amounted to $X per ton, rising by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Taiwan (Chinese) stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+5.2%), while the prices for the other major destinations experienced mixed trend patterns.

Wheat Gluten Imports

Imports into Republic of Korea

For the eleventh year in a row, South Korea recorded growth in overseas purchases of wheat gluten, which increased by 17% to X tons in 2022. Over the period under review, imports showed a strong expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 69%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, wheat gluten imports skyrocketed to $X in 2022. Overall, imports posted significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 76%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

China (X tons), France (X tons) and Germany (X tons) were the main suppliers of wheat gluten imports to South Korea, together comprising 93% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +48.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), France ($X) and Germany ($X) appeared to be the largest wheat gluten suppliers to South Korea, with a combined 93% share of total imports.

In terms of the main suppliers, China, with a CAGR of +55.5%, recorded 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 wheat gluten import price stood at $X per ton in 2022, rising by 25% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Australia ($X per ton) and Lithuania ($X per ton), while the price for Belgium ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.0%), 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 wheat gluten in the world?

The countries with the highest volumes of wheat gluten consumption in 2021 were the United States, Norway and France, together accounting for 49% of global consumption. The UK, Italy, the Netherlands, Belgium, Nigeria, Germany, Brazil, China, Japan and Turkey lagged somewhat behind, together comprising a further 27%.

What are the largest producers of wheat gluten in the world?

The countries with the highest volumes of wheat gluten production in 2021 were France, Belgium and China, with a combined 52% share of global production.

What are the leading suppliers of wheat gluten to Republic of Korea?

In value terms, France constituted the largest supplier of wheat gluten to South Korea, comprising 50% of total imports. The second position in the ranking was occupied by China, with a 22% share of total imports. It was followed by Germany, with a 10% share.

What are the leading importers of wheat gluten from Republic of Korea?

In value terms, Vietnam remains the key foreign market for wheat gluten exports from South Korea.

What is the average export price for wheat gluten in Republic of Korea?

The average wheat gluten export price stood at $1,943 per ton in 2021, with an increase of 8% against the previous year.

What is the average import price for wheat gluten in Republic of Korea?

The average wheat gluten import price stood at $1,540 per ton in 2021, with an increase of 4.2% against the previous year.

This report provides an in-depth analysis of the wheat gluten 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 24 - Wheat Gluten

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