Republic of Korea - Milk - Market Analysis, Forecast, Size, Trends and Insights
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View PricingMilk Price in South Korea - 2022
Contents:
- Milk Price in South Korea (CIF) - 2022
- Milk Price in South Korea (FOB) - 2022
- Milk Imports in South Korea
- Milk Exports in South Korea
Milk Price in South Korea (CIF) - 2022
In 2022, the average milk import price amounted to $743 per ton, growing by 4.8% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 an increase of 14% against the previous year. As a result, import price attained the peak level of $959 per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Australia ($1,109 per ton), while the price for Poland ($706 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+0.3%), while the prices for the other major suppliers experienced a decline.
Milk Price in South Korea (FOB) - 2022
The average milk export price stood at $1,784 per ton in 2022, remaining constant against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The most prominent rate of growth was recorded in 2014 an increase of 15%. As a result, the export price attained the peak level of $2,027 per ton. From 2015 to 2022, the average export prices failed to regain momentum.
Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($1,889 per ton), while the average price for exports to the Philippines ($1,383 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 China (-0.0%), while the prices for the other major destinations experienced a decline.
Milk Imports in South Korea
For the fourth consecutive year, South Korea recorded growth in overseas purchases of milk, which increased by 35% to 31K tons in 2022. Overall, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 103% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, milk imports soared to $23M in 2022. Over the period under review, imports saw significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 106%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.
Import of Milk in South Korea (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Poland | 2.6 | 3.4 | 10.1 | 16.8 | 86.3% |
Germany | 1.6 | 1.8 | 2.1 | 2.4 | 14.5% |
Italy | 1.8 | 1.5 | 2.5 | 1.9 | 1.8% |
Australia | 1.0 | 1.0 | 1.3 | 1.7 | 19.3% |
Others | 0.4 | 0.4 | 0.6 | 0.5 | 7.7% |
Total | 7.5 | 8.0 | 16.5 | 23.4 | 46.1% |
Top Suppliers of Milk to South Korea in 2022:
- Poland (23.8K tons)
- Germany (3.2K tons)
- Italy (2.3K tons)
- Australia (1.6K tons)
Milk Exports in South Korea
For the third consecutive year, South Korea recorded decline in shipments abroad of milk, which decreased by -46.5% to 3.9K tons in 2022. In general, exports continue to indicate a significant contraction. The smallest decline of -5% was in 2020.
In value terms, milk exports contracted sharply to $7M in 2022. Overall, exports showed a precipitous contraction. The smallest decline of -6.6% was in 2020.
Export of Milk in South Korea (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
China | 17.5 | 15.9 | 12.6 | 6.6 | -27.8% |
Vietnam | N/A | 0.1 | N/A | 0.2 | 41.4% |
Philippines | 0.2 | 0.3 | 0.2 | 0.1 | -20.6% |
Others | 0.2 | 0.5 | 0.3 | N/A | 22.5% |
Total | 17.8 | 16.7 | 13.1 | 7.0 | -26.7% |
Top Export Markets for Milk from South Korea in 2022:
- China (3684.4 tons)
- Vietnam (103.1 tons)
- Philippines (92.4 tons)
This report provides an in-depth analysis of the milk 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 1130 - Camel milk
- FCL 882 - Cow milk, whole (fresh)
- FCL 1020 - Goat milk
- FCL 982 - Sheep milk
- FCL 951 - Buffalo milk
- FCL 888 - Skim Milk of Cows
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
This report provides an in-depth analysis of the milk market in Republic of Korea.
This report provides an in-depth analysis of the skim milk market in Republic of Korea.
This report provides an in-depth analysis of the cream fresh market in Republic of Korea.
This report provides an in-depth analysis of the whole fresh milk market in Republic of Korea.
This report provides an in-depth analysis of the global milk market.
This report provides an in-depth analysis of the global skim milk market.
This report provides an in-depth analysis of the global cream fresh market.
This report provides an in-depth analysis of the global whole fresh milk market.
This report provides an in-depth analysis of the cream market in Republic of Korea.
This report provides an in-depth analysis of the milk market in Republic of Korea.
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