Republic of Korea - Frozen Potatoes - Market Analysis, Forecast, Size, Trends and Insights
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View PricingFrozen Potato Price in South Korea - 2022
Contents:
- Frozen Potato Price in South Korea (CIF) - 2022
- Frozen Potato Price in South Korea (FOB) - 2022
- Frozen Potato Imports in South Korea
- Frozen Potato Exports in South Korea
Frozen Potato Price in South Korea (CIF) - 2022
In 2022, the average frozen potato import price amounted to $1,572 per ton, rising by 14% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.9%. 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 2022, amid the top importers, the country with the highest price was Canada ($1,792 per ton), while the price for the Netherlands ($1,192 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Frozen Potato Price in South Korea (FOB) - 2022
The average frozen potato export price stood at $1,982 per ton in 2022, with an increase of 11% against the previous year. Over the period under review, the export price, however, saw a deep downturn. The pace of growth was the most pronounced in 2017 an increase of 100% against the previous year. Over the period under review, the average export prices attained the maximum at $5,398 per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($3,510 per ton), while the average price for exports to Japan ($1,351 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 Hong Kong SAR (+12.4%), while the prices for the other major destinations experienced a decline.
Frozen Potato Imports in South Korea
After two years of decline, overseas purchases of frozen potatoes increased by 18% to 149K tons in 2022. The total import volume increased at an average annual rate of +4.0% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, frozen potato imports soared to $234M in 2022. The total import value increased at an average annual rate of +10.5% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Frozen Potato in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 120 | 119 | 120 | 145 | 6.5% |
| Belgium | 14.4 | 14.0 | 21.4 | 40.8 | 41.5% |
| China | 4.3 | 4.0 | 6.7 | 15.9 | 54.6% |
| Netherlands | 3.9 | 11.3 | 17.5 | 13.6 | 51.6% |
| Canada | 29.6 | 15.9 | 6.8 | 11.9 | -26.2% |
| Others | 1.3 | 1.2 | 2.4 | 7.2 | 76.9% |
| Total | 174 | 165 | 175 | 234 | 10.4% |
Top Suppliers of Frozen Potato to South Korea in 2022:
- United States (81.7K tons)
- Belgium (32.1K tons)
- China (12.5K tons)
- Netherlands (11.4K tons)
- Canada (6.7K tons)
Frozen Potato Exports in South Korea
In 2022, after three years of growth, there was significant decline in shipments abroad of frozen potatoes, when their volume decreased by -58% to 215 tons. Over the period under review, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2021 when exports increased by 249%. As a result, the exports reached the peak of 512 tons, and then reduced dramatically in the following year.
In value terms, frozen potato exports contracted dramatically to $427K in 2022. In general, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 212%. As a result, the exports attained the peak of $912K, and then plummeted in the following year.
| Export of Frozen Potato in South Korea (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 138 | 241 | 174 | 200 | 13.2% |
| Japan | N/A | N/A | 405 | 131 | -67.7% |
| United States | 1.3 | 11.7 | 105 | 49.6 | 236.7% |
| Hong Kong SAR | 6.7 | N/A | 26.5 | 18.7 | 40.8% |
| Others | 92.8 | 39.6 | 202 | 26.9 | -33.8% |
| Total | 239 | 292 | 912 | 427 | 21.3% |
Top Export Markets for Frozen Potato from South Korea in 2022:
- Japan (97.1 tons)
- Russia (92.6 tons)
- United States (14.1 tons)
- Hong Kong SAR (5.8 tons)
This report provides an in-depth analysis of the frozen potato 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:
- Prodcom 10311110 - Frozen potatoes, uncooked or cooked by steaming or boiling in water
- Prodcom 10311130 - Frozen potatoes, prepared or preserved (including potatoes cooked or partly cooked in oil and then frozen, excluding by vinegar or acetic acid)
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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