Republic of Korea - Skimmed Milk - Market Analysis, Forecast, Size, Trends and Insights
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View PricingRepublic of Korea: Market for Powdered, Condensed Or Evaporated Milk 2024
Market Size for Powdered, Condensed Or Evaporated Milk in Republic of Korea
In 2022, the South Korean market for powdered, condensed or evaporated milk was finally on the rise to reach $X after three years of decline. Overall, consumption saw a noticeable contraction. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.
Production of Powdered, Condensed Or Evaporated Milk in Republic of Korea
In value terms, powdered, condensed or evaporated milk production expanded rapidly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.
Exports of Powdered, Condensed Or Evaporated Milk
Exports from Republic of Korea
In 2022, the amount of powdered, condensed or evaporated milk exported from South Korea skyrocketed to X tons, growing by X% against 2021. Overall, exports recorded a prominent increase. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, powdered, condensed or evaporated milk exports skyrocketed to $X in 2022. Over the period under review, exports posted a resilient increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.
Exports by Country
The United States (X tons), Taiwan (Chinese) (X tons) and the Philippines (X tons) were the main destinations of powdered, condensed or evaporated milk exports from South Korea, with a combined X% share of total exports. Canada, Hong Kong SAR, China and Australia lagged somewhat behind, together comprising a further X%.
From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, the largest markets for powdered, condensed or evaporated milk exported from South Korea were the United States ($X), Taiwan (Chinese) ($X) and the Philippines ($X), with a combined X% share of total exports. Canada, Hong Kong SAR, China and Australia lagged somewhat behind, together comprising a further X%.
In terms of the main countries of destination, Hong Kong SAR, with a CAGR of X%, recorded the highest rates of growth with regard to 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 export price for powdered, condensed or evaporated milk amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the export price, however, saw a mild setback. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.
Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to China ($X per ton) and Taiwan (Chinese) ($X per ton), while the average price for exports to the United States ($X per ton) and Australia ($X per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (X%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Powdered, Condensed Or Evaporated Milk
Imports into Republic of Korea
In 2022, after three years of decline, there was significant growth in overseas purchases of powdered, condensed or evaporated milk, when their volume increased by X% to X tons. Overall, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.
In value terms, powdered, condensed or evaporated milk imports surged to $X in 2022. In general, total imports indicated a measured 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. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.
Imports by Country
The United States (X tons), New Zealand (X tons) and France (X tons) were the main suppliers of powdered, condensed or evaporated milk imports to South Korea, together comprising X% of total imports. Australia, Germany, the Netherlands, Japan and Belgium lagged somewhat behind, together comprising a further X%.
From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the United States ($X), New Zealand ($X) and France ($X) were the largest powdered, condensed or evaporated milk suppliers to South Korea, with a combined X% share of total imports. Australia, the Netherlands, Germany, Japan and Belgium lagged somewhat behind, together accounting for a further X%.
Among the main suppliers, Japan, 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
In 2022, the average import price for powdered, condensed or evaporated milk amounted to $X per ton, picking up by X% against the previous year. Overall, import price indicated a temperate increase 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, powdered, condensed or evaporated milk import price increased by X% against 2016 indices. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; afterwards, it flattened through to 2022.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the market for powdered, condensed or evaporated milk 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 889 - Whole Milk, Condensed
- FCL 894 - Whole Milk, Evaporated
- FCL 895 - Skim Milk, Evaporated
- FCL 896 - Skim Milk, Condensed
- FCL 897 - Dry Whole Cow Milk
- FCL 898 - Dry Skim Cow Milk
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
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