Republic of Korea: Strawberry Market 2024

Strawberry Market Size in Republic of Korea

The South Korean strawberry market fell to $X in 2022, waning by X% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Strawberry Production in Republic of Korea

In value terms, strawberry production declined to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average strawberry yield in South Korea shrank to X tons per ha, with a decrease of X% compared with the year before. Overall, the yield, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, the yield attained the peak level of X tons per ha. From 2020 to 2022, the growth of the average strawberry yield remained at a lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of strawberries production in South Korea reduced modestly to X ha, which is down by X% compared with the previous year. In general, the harvested area saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the harvested area increased by X% against the previous year. As a result, the harvested area reached the peak level of X ha. From 2014 to 2022, the growth of the strawberry harvested area remained at a somewhat lower figure.

Strawberry Exports

Exports from Republic of Korea

In 2022, approx. X tons of strawberries were exported from South Korea; with a decrease of X% against the previous year's figure. Overall, total exports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2019 indices. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, strawberry exports reduced to $X in 2022. Over the period under review, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2021, and then shrank in the following year.

Exports by Country

Hong Kong SAR (X tons), Singapore (X tons) and Vietnam (X tons) were the main destinations of strawberry exports from South Korea, together accounting for X% of total exports.

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

In value terms, the largest markets for strawberry exported from South Korea were Hong Kong SAR ($X), Singapore ($X) and Vietnam ($X), with a combined X% share of total exports.

Vietnam, with a CAGR of X%, saw the highest growth rate of 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

In 2022, the average strawberry export price amounted to $X per ton, increasing by X% against the previous year. Overall, export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, strawberry export price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while the average price for exports to Hong Kong SAR ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Strawberry Imports

Imports into Republic of Korea

In 2018, purchases abroad of strawberries decreased by X% to X kg, falling for the third year in a row after two years of growth. Over the period under review, imports continue to indicate a sharp decline. The pace of growth appeared the most rapid in 2015 with an increase of X%. Over the period under review, imports reached the maximum at X kg in 2012; however, from 2013 to 2018, imports remained at a lower figure.

In value terms, strawberry imports stood at $X in 2018. In general, imports recorded a precipitous shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2018, imports failed to regain momentum.

Imports by Country

In 2018, Peru (X kg) was the main supplier of strawberry to South Korea, accounting for a approx. X% share of total imports.

From 2012 to 2018, the average annual rate of growth in terms of volume from Peru totaled X%.

In value terms, Peru ($X) constituted the largest supplier of strawberries to South Korea.

From 2012 to 2018, the average annual growth rate of value from Peru stood at X%.

Import Prices by Country

In 2018, the average strawberry import price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2016 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2017 to 2018, the average import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for Peru.

From 2012 to 2018, the rate of growth in terms of prices for the United States amounted to X% per year.

Source: IndexBox Platform

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