Republic of Korea - Coconut (Copra) Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Coconut Oil Market 2024
Coconut Oil Market Size in Republic of Korea
In 2023, the South Korean coconut oil market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, consumption, however, continues to indicate a perceptible reduction. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.
Coconut Oil Production in Republic of Korea
In value terms, coconut oil production totaled $X in 2023 estimated in export price. In general, production, however, saw a abrupt decline. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.
Coconut Oil Exports
Exports from Republic of Korea
After three years of growth, overseas shipments of coconut (copra) oil decreased by X% to X tons in 2023. Overall, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2023, the exports remained at a lower figure.
In value terms, coconut oil exports shrank to $X in 2023. Over the period under review, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. The exports peaked at $X in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.
Exports by Country
Japan (X tons), China (X tons) and the United States (X tons) were the main destinations of coconut oil exports from South Korea, with a combined X% share of total exports. The Philippines lagged somewhat behind, accounting for a further X%.
From 2012 to 2023, the biggest increases were recorded for the Philippines (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, China ($X), Japan ($X) and the United States ($X) were the largest markets for coconut oil exported from South Korea worldwide, together comprising X% of total exports. The Philippines lagged somewhat behind, accounting for a further X%.
In terms of the main countries of destination, the Philippines, 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
The average coconut oil export price stood at $X per ton in 2023, which is down by X% against the previous year. Overall, the export price saw a pronounced slump. The pace of growth appeared the most rapid in 2019 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Zambia (X%), while the prices for the other major destinations experienced more modest paces of growth.
Coconut Oil Imports
Imports into Republic of Korea
Coconut oil imports into South Korea expanded modestly to X tons in 2023, growing by X% on 2022 figures. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by X%. Imports peaked at X tons in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.
In value terms, coconut oil imports shrank to $X in 2023. In general, total imports indicated temperate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2022, and then reduced in the following year.
Imports by Country
Indonesia (X tons), the Philippines (X tons) and Malaysia (X tons) were the main suppliers of coconut oil imports to South Korea, together comprising X% of total imports.
From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Philippines (with a CAGR of X%), while imports for the other leaders experienced a decline.
In value terms, the largest coconut oil suppliers to South Korea were Indonesia ($X), the Philippines ($X) and Malaysia ($X), together comprising X% of total imports.
The Philippines, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.
Import Prices by Country
The average coconut oil import price stood at $X per ton in 2023, reducing by X% against the previous year. In general, import price indicated a moderate increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, coconut oil import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. The import price peaked at $X per ton in 2022, and then reduced in the following year.
Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced mixed trend patterns.
Source: IndexBox Platform
This report provides an in-depth analysis of the coconut oil 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 252 - Oil of Coconuts
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
- 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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