Republic of Korea: Casein And Caseinates Market 2024

Casein And Caseinates Market Size in Republic of Korea

The South Korean casein and caseinates market declined slightly to $X in 2022, with a decrease of X% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Casein And Caseinates Production in Republic of Korea

In value terms, casein and caseinates production shrank to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible setback. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Casein And Caseinates Exports

Exports from Republic of Korea

In 2022, shipments abroad of casein and caseinates was finally on the rise to reach X tons after two years of decline. Over the period under review, exports continue to indicate a modest increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, casein and caseinates exports soared to $X in 2022. In general, exports posted a measured expansion. The growth pace was the most rapid in 2018 with an increase of X%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Vietnam (X tons), Sri Lanka (X tons) and Mongolia (X kg) were the main destinations of casein and caseinates exports from South Korea, together comprising X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Mongolia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Vietnam ($X) remains the key foreign market for casein and caseinates exports from South Korea, comprising X% of total exports. The second position in the ranking was taken by Japan ($X), with a X% share of total exports. It was followed by Sri Lanka, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Vietnam stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and Sri Lanka (X% per year).

Export Prices by Country

In 2022, the average casein and caseinates export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price continues to indicate a measured expansion. The most prominent rate of growth was recorded in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Sri Lanka ($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 Japan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Casein And Caseinates Imports

Imports into Republic of Korea

In 2022, approx. X tons of casein and caseinates were imported into South Korea; approximately equating the year before. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, casein and caseinates imports soared to $X in 2022. Overall, total imports indicated a strong expansion from 2012 to 2022: its value 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, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

New Zealand (X tons), France (X tons) and Ireland (X tons) were the main suppliers of casein and caseinates imports to South Korea, with a combined X% share of total imports. The United States, Germany and Poland lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), France ($X) and Ireland ($X) were the largest casein and caseinates suppliers to South Korea, together comprising X% of total imports. The United States, Germany and Poland lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, the United States, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average casein and caseinates import price stood at $X per ton in 2022, rising by X% against the previous year. In general, import price indicated a mild expansion from 2012 to 2022: its price 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, casein and caseinates import price increased by X% against 2016 indices. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from New Zealand ($X per ton) and the United States ($X per ton), while the price for France ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform