Republic of Korea - Ginger - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Ginger Market 2024
Ginger Market Size in Republic of Korea
In 2022, the South Korean ginger market decreased by X% to $X, falling for the second consecutive year after three years of growth. Overall, consumption, however, saw a strong increase. Ginger consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.
Ginger Production in Republic of Korea
In value terms, ginger production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, posted significant growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.
The average yield of ginger in South Korea stood at X tons per ha in 2022, standing approx. at the previous year's figure. In general, the yield enjoyed a resilient increase. The pace of growth appeared the most rapid in 2018 when the yield increased by X%. The ginger yield peaked at X tons per ha in 2020; however, from 2021 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2022, the ginger harvested area in South Korea declined to X ha, falling by X% compared with the previous year's figure. Overall, the total harvested area indicated a buoyant increase from 2012 to 2022: its figure 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, ginger harvested area increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the harvested area increased by X%. The ginger harvested area peaked at X ha in 2021, and then reduced slightly in the following year.
Ginger Exports
Exports from Republic of Korea
In 2022, approx. X tons of ginger were exported from South Korea; shrinking by X% against the previous year. Over the period under review, exports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons, and then shrank rapidly in the following year.
In value terms, ginger exports fell dramatically to $X in 2022. Overall, exports, however, posted a tangible increase. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then dropped significantly in the following year.
Exports by Country
Kiribati (X tons) was the main destination for ginger exports from South Korea, with a X% share of total exports. Moreover, ginger exports to Kiribati exceeded the volume sent to the second major destination, Japan (X kg), threefold. The United States (X kg) ranked third in terms of total exports with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of volume to Kiribati amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and the United States (X% per year).
In value terms, the largest markets for ginger exported from South Korea were the United States ($X), Kiribati ($X) and Vietnam ($X), with a combined X% share of total exports.
In terms of the main countries of destination, Vietnam, with a CAGR of X%, saw the highest growth rate of the value of exports, 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 ginger export price amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price showed resilient growth. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Panama ($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 Vietnam (X%), while the prices for the other major destinations experienced more modest paces of growth.
Ginger Imports
Imports into Republic of Korea
In 2022, purchases abroad of ginger decreased by X% to X tons, falling for the third consecutive year after two years of growth. Overall, imports showed a abrupt curtailment. The pace of growth was the most pronounced in 2019 with an increase of X%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.
In value terms, ginger imports dropped markedly to $X in 2022. Over the period under review, imports, however, saw a resilient increase. The pace of growth was the most pronounced in 2018 with an increase of X%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.
Imports by Country
China (X tons), Peru (X tons) and Vietnam (X tons) were the main suppliers of ginger imports to South Korea, together accounting for X% of total imports.
From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Peru (with a CAGR of X.3%), while imports for the other leaders experienced mixed trend patterns.
In value terms, Peru ($X) constituted the largest supplier of ginger to South Korea, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports.
From 2012 to 2022, the average annual rate of growth in terms of value from Peru amounted to X.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Vietnam (X% per year).
Import Prices by Country
The average ginger import price stood at $X per ton in 2022, surging by X% against the previous year. In general, the import price saw prominent growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Peru ($X per ton), while the price for China ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the ginger 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 720 - Ginger
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, HARVESTED AREA 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
- Area Harvested, 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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