Republic of Korea - Provitamins And Vitamins - Market Analysis, Forecast, Size, Trends and Insights
Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.
View PricingVitamin Price in South Korea - 2022
Contents:
- Vitamin Price in South Korea (CIF) - 2022
- Vitamin Price in South Korea (FOB) - 2022
- Vitamin Imports in South Korea
- Vitamin Exports in South Korea
Vitamin Price in South Korea (CIF) - 2022
In December 2022, the average vitamin import price amounted to $16,997 per ton, picking up by 4.7% against the previous month. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in March 2022 an increase of 27% against the previous month. As a result, import price reached the peak level of $20,166 per ton. From April 2022 to December 2022, the average import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Germany ($34,827 per ton), while the price for India ($9,588 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 UK (+0.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Vitamin Price in South Korea (FOB) - 2022
The average vitamin export price stood at $20,725 per ton in December 2022, declining by -9.5% against the previous month. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in September 2022 when the average export price increased by 30% against the previous month. As a result, the export price reached the peak level of $25,938 per ton. From October 2022 to December 2022, the the average export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($128K per ton), while the average price for exports to China ($15,019 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.
Vitamin Imports in South Korea
In 2022, imports of provitamins and vitamins into South Korea totaled 15K tons, with an increase of 4.9% against 2021 figures. The total import volume increased at an average annual rate of +7.7% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 21%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.
In value terms, vitamin imports fell to $235M in 2022. The total import value increased at an average annual rate of +7.2% from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when imports increased by 17% against the previous year.
| Import of Vitamin in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 73.8 | 89.9 | 85.3 | 97.3 | 9.7% |
| United Kingdom | 31.0 | 46.2 | 35.7 | 40.0 | 8.9% |
| Switzerland | 28.9 | 27.1 | 27.2 | 22.5 | -8.0% |
| Germany | 13.1 | 12.7 | 14.1 | 16.1 | 7.1% |
| France | 7.5 | 10.2 | 10.8 | 11.4 | 15.0% |
| India | 8.9 | 9.2 | 8.6 | 10.7 | 6.3% |
| Others | 27.9 | 28.4 | 65.3 | 37.4 | 10.3% |
| Total | 191 | 224 | 247 | 235 | 7.2% |
Top Suppliers of Vitamin to South Korea in 2022:
- China (9.1K tons)
- United Kingdom (2.4K tons)
- Switzerland (1.1K tons)
- India (0.7K tons)
- Germany (0.6K tons)
- France (0.2K tons)
Vitamin Exports in South Korea
In 2022, after three years of growth, there was significant decline in shipments abroad of provitamins and vitamins, when their volume decreased by -6.2% to 3.4K tons. The total export volume increased at an average annual rate of +7.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 19% against the previous year.
In value terms, vitamin exports reduced to $60M in 2022. The total export value increased at an average annual rate of +3.9% from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 with an increase of 17% against the previous year. As a result, the exports reached the peak of $64M, and then reduced in the following year.
| Export of Vitamin in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Germany | 14.4 | 13.0 | 11.5 | 14.8 | 0.9% |
| United States | 10.5 | 11.4 | 9.1 | 10.2 | -1.0% |
| Singapore | 5.3 | 4.7 | 3.8 | 5.4 | 0.6% |
| China | 4.1 | 4.2 | 4.2 | 4.9 | 6.1% |
| India | 0.9 | 3.0 | 3.1 | 3.7 | 60.2% |
| Japan | 2.1 | 2.1 | 1.8 | 3.0 | 12.6% |
| Indonesia | 1.1 | 2.4 | 1.6 | 1.9 | 20.0% |
| Brazil | 1.5 | 1.0 | 1.4 | 1.4 | -2.3% |
| United Kingdom | 0.1 | 0.2 | 0.1 | 1.3 | 135.1% |
| Mexico | 1.1 | 0.4 | 0.9 | 1.1 | 0.0% |
| Russia | 0.9 | 1.0 | 0.8 | 0.9 | 0.0% |
| Thailand | 0.6 | 1.9 | 0.3 | 0.9 | 14.5% |
| South Africa | 0.8 | 0.6 | 0.3 | 0.6 | -9.1% |
| Others | 9.8 | 9.2 | 25.6 | 9.8 | 0.0% |
| Total | 53.2 | 55.1 | 64.4 | 59.7 | 3.9% |
Top Export Markets for Vitamin from South Korea in 2022:
- Germany (977.0 tons)
- Singapore (370.3 tons)
- China (335.9 tons)
- United States (323.7 tons)
- India (166.7 tons)
- Brazil (112.0 tons)
- Japan (90.4 tons)
- Indonesia (79.0 tons)
- Russia (78.1 tons)
- Mexico (77.9 tons)
- United Kingdom (73.0 tons)
- South Africa (66.1 tons)
- Thailand (56.9 tons)
This report provides an in-depth analysis of the vitamin 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 21105100 - Provitamins and vitamins, natural or reproduced by synthesis (including natural concentrates), derivatives thereof used primarily as vitamins, and intermixtures of the foregoing, w hether or not in any solvent
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.
-
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
-
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
-
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
-
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
-
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
-
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
-
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
529
This report provides an in-depth analysis of the vitamin market in Republic of Korea.
2721
This report provides an in-depth analysis of the global vitamin market.
529
This report provides an in-depth analysis of the vitamin market in Republic of Korea.
2721
This report provides an in-depth analysis of the global vitamin market.
214
Vitamins play a crucial role in maintaining good health and well-being. They are essential nutrients that our bodies need in small amounts to function properly. With the growing awareness of the importance of vitamins, the global demand for vitamin supplements and fortified foods has been on the rise. As a result, several countries have become major import markets for vitamins, enabling people around the world to access these essential nutrients easily. One platform that provides in-depth insights into the global import market for vitamins is IndexBox Market Intelligence. This platform offers comprehensive data and statistics that allow businesses and individuals to stay informed about the latest trends and developments in the industry. The top import markets for vitamins in 2022 are the United States, Netherlands, Germany, Singapore, and France. These countries not only serve as vital import markets for vitamins but also contribute significantly to the global vitamin industry. The demand for vitamins continues to grow as people become more conscious of their health and seek ways to enhance their well-being. The import markets for vitamins have a significant impact on the global vitamin industry, driving the production and trade of vitamin supplements and fortified foods on a global scale. Platforms like IndexBox Market Intelligence offer invaluable data and insights to businesses and individuals seeking to navigate the complex dynamics of the global import market for vitamins. Staying informed about the latest trends and developments allows industry players to make informed decisions and capitalize on emerging opportunities.
347
Global vitamin trade rose by 16% y/y to $7.7B in 2020, driven by the increased demand for immune-boosting drugs during the COVID-19 pandemic. In physical terms, supplies spiked by 18% y/y to 584K tons.
1410
In 2016, the global vitamin imports stood at X tons, lowering by -X% against the previous year figure. Overall, vitamin imports continue to indicate a relatively flat trend pattern. The growth...
832
In 2016, the global vitamin imports stood at X tons, lowering by -X% against the previous year figure. Overall, vitamin imports continue to indicate a relatively flat trend pattern. The growth...
214
Vitamins play a crucial role in maintaining good health and well-being. They are essential nutrients that our bodies need in small amounts to function properly. With the growing awareness of the importance of vitamins, the global demand for vitamin supplements and fortified foods has been on the rise. As a result, several countries have become major import markets for vitamins, enabling people around the world to access these essential nutrients easily. One platform that provides in-depth insights into the global import market for vitamins is IndexBox Market Intelligence. This platform offers comprehensive data and statistics that allow businesses and individuals to stay informed about the latest trends and developments in the industry. The top import markets for vitamins in 2022 are the United States, Netherlands, Germany, Singapore, and France. These countries not only serve as vital import markets for vitamins but also contribute significantly to the global vitamin industry. The demand for vitamins continues to grow as people become more conscious of their health and seek ways to enhance their well-being. The import markets for vitamins have a significant impact on the global vitamin industry, driving the production and trade of vitamin supplements and fortified foods on a global scale. Platforms like IndexBox Market Intelligence offer invaluable data and insights to businesses and individuals seeking to navigate the complex dynamics of the global import market for vitamins. Staying informed about the latest trends and developments allows industry players to make informed decisions and capitalize on emerging opportunities.
347
Global vitamin trade rose by 16% y/y to $7.7B in 2020, driven by the increased demand for immune-boosting drugs during the COVID-19 pandemic. In physical terms, supplies spiked by 18% y/y to 584K tons.
1410
In 2016, the global vitamin imports stood at X tons, lowering by -X% against the previous year figure. Overall, vitamin imports continue to indicate a relatively flat trend pattern. The growth...
832
In 2016, the global vitamin imports stood at X tons, lowering by -X% against the previous year figure. Overall, vitamin imports continue to indicate a relatively flat trend pattern. The growth...
