Republic of Korea - Frozen Cuts Of Chicken - Market Analysis, Forecast, Size, Trends And Insights
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View PricingFrozen Chicken Cut Price in South Korea - 2022
Contents:
- Frozen Chicken Cut Price in South Korea (CIF) - 2022
- Frozen Chicken Cut Price in South Korea (FOB) - 2022
- Frozen Chicken Cut Imports in South Korea
- Frozen Chicken Cut Exports in South Korea
Frozen Chicken Cut Price in South Korea (CIF) - 2022
In December 2022, the average frozen chicken cut import price amounted to $2,583 per ton, waning by -4.2% against the previous month. Over the period from December 2021 to December 2022, it increased at an average monthly rate of +1.9%. The pace of growth was the most pronounced in August 2022 an increase of 9.6% against the previous month. The import price peaked at $2,746 per ton in September 2022; however, from October 2022 to December 2022, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Thailand ($3,526 per ton), while the price for Sweden ($1,716 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Frozen Chicken Cut Price in South Korea (FOB) - 2022
The average frozen chicken cut export price stood at $1,035 per ton in December 2022, shrinking by -10.4% against the previous month. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in September 2022 an increase of 18% against the previous month. As a result, the export price reached the peak level of $1,170 per ton. From October 2022 to December 2022, the the average export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for Vietnam.
From December 2021 to December 2022, the rate of growth in terms of prices for Vietnam amounted to -0.2% per month.
Frozen Chicken Cut Imports in South Korea
In 2022, imports of frozen cuts of chicken into South Korea soared to 182K tons, with an increase of 22% on the previous year. The total import volume increased at an average annual rate of +8.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, frozen chicken cut imports surged to $450M in 2022. In general, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +16.1% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +72.6% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
Import of Frozen Chicken Cut in South Korea (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Brazil | 236 | 211 | 225 | 390 | 18.2% |
Thailand | 26.2 | 23.2 | 37.8 | 46.7 | 21.2% |
United States | 3.4 | 2.8 | 2.4 | 7.6 | 30.8% |
Denmark | 14.7 | 16.6 | 1.7 | 2.5 | -44.6% |
Others | 6.3 | 7.0 | 1.6 | 2.6 | -25.5% |
Total | 287 | 260 | 269 | 450 | 16.2% |
Top Suppliers of Frozen Chicken Cut to South Korea in 2022:
- Brazil (158.7K tons)
- Thailand (14.8K tons)
- United States (4.9K tons)
- Denmark (1.3K tons)
Frozen Chicken Cut Exports in South Korea
In 2022, exports of frozen cuts of chicken from South Korea skyrocketed to 18K tons, growing by 23% compared with 2021. The total export volume increased at an average annual rate of +1.2% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period.
In value terms, frozen chicken cut exports soared to $19M in 2022. Over the period under review, exports showed a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
Export of Frozen Chicken Cut in South Korea (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Vietnam | 16.9 | 16.1 | 15.1 | 19.4 | 4.7% |
Hong Kong SAR | 2.3 | 2.9 | N/A | N/A | 26.1% |
Others | N/A | N/A | N/A | N/A | 0% |
Total | 19.2 | 19.0 | 15.1 | 19.4 | 0.3% |
Top Export Markets for Frozen Chicken Cut from South Korea in 2022:
- Hong Kong SAR (undefinedK tons)
- Vietnam (18.1K tons)
This report provides an in-depth analysis of the frozen chicken cut 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 10122053 - Frozen cuts of chicken
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
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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
- COUNTRIES WITH TOP YIELDS
- 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, PRODUCING ANIMALS AND YIELD
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
- Yield 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
- Producing Animals Slaughtered, 2012–2023
- Yield, 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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