Dried mushrooms market in South Korea

Earlier Report Observations

The South Korean dried mushroom market expanded from 3 566 t in 2018 to 4 851 t in 2023, a growth of over 1 200 t. After relative stability in 2018-2020, market volume increased sharply from 2021 onward, surpassing 4 400 t by 2022.

This acceleration in 2023 was supported by an 11% surge in mushroom sales through digital and online channels, which broadened consumer access and boosted demand. Concurrently, the government simplified permit procedures for vertical farms by amending the Farmland Act, facilitating potential increases in domestic production capacity.

Entering 2024, the market faced supply chain pressures from the Ukraine-Russia war blocking beet pulp substrate imports and droughts in India reducing cottonseed hull supplies. Despite these constraints, innovation continued with the Rural Development Administration patenting artificial cultivation techniques for rare mushrooms and a collaboration between major food companies launching Korea's first mycelium-based meat alternative products, signaling expansion into new functional food segments.

Production dried mushrooms in South Korea

In kind, 2017-2020, t

On a global scale, South Korea ranked as the 11th largest producer of dried mushrooms between 2017 and 2020.

Top producers of dried mushrooms, 2017-2020

World map of production of dried mushrooms, 2017-2020

After two consecutive years of decline, South Korea's dried mushroom production rebounded in 2020. That year, the country produced 490 tonnes of dried mushrooms, marking a 37.2% increase compared to 2019. However, looking at the broader period from 2017 to 2020, overall production fell by 45.7%, which translates to an average annual decline of 18.4%. The lowest production level was recorded in 2019 at 357 tonnes, with the steepest drop of 38.2% occurring that same year.

Annual dynamics of production in South Korea in kind, 2017-2020, t

Exports dried mushrooms from South Korea

Exports in kind, t

South Korea's exports of dried mushrooms declined for the second year in a row in 2020. The export volume reached 60 tonnes, representing a significant 13.1% decrease compared to the previous year. Over the period from 2017 to 2020, exports fell by 28.5%, averaging an annual decline of 10.6%. The peak export volume was recorded in 2018 at 97 tonnes. The sharpest decline occurred in 2019 with a 29.5% drop, while the largest increase was seen in 2018 with a 16.8% rise.

Annual dynamics of product's exports from South Korea in kind, 2017-2020, t

From 2017 to 2020, the United States, Hong Kong, and Asia (not elsewhere specified) emerged as the primary markets for South Korea's dried mushroom exports by volume. The United States accounted for 32.9% of exports, Hong Kong for 22.2%, and Asia (not elsewhere specified) for 19.5%. Together, these three destinations represented 74.6% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from South Korea in kind, 2017-2020

Exports in value, K $ US

South Korea's dried mushroom exports in value terms declined for the third consecutive year in 2020. Exports amounted to 1 368 thousand US dollars, down by 19.1% compared to 2019. Over the 2017-2020 period, export value decreased by 35.2%, with a compound annual growth rate (CAGR) of -13.5%.

Annual dynamics of product's exports from South Korea in value, 2017-2020, K $ US

Throughout 2017-2020, Hong Kong, the United States, and Asia (not elsewhere specified) remained the key destinations for South Korea's dried mushroom exports by value. Hong Kong led with 41.9% of export value, followed by the United States at 20.1%, and Asia (not elsewhere specified) at 12.5%. Collectively, these three markets accounted for 74.5% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from South Korea in value, 2017-2020

Imports dried mushrooms to South Korea

Imports in kind, t

After two years of growth, South Korea's imports of dried mushrooms by volume declined in 2020. Imports totaled 3 154 tonnes, a decrease of 3.8% compared to 2019. However, over the 2017-2020 period, imports increased by 4%, averaging an annual growth rate of 1.3%. The highest import volume was recorded in 2019 at 3 280 tonnes, with the largest increase of 6.3% also occurring that year.

Annual dynamics of product's imports to South Korea in kind, 2017-2020, t

Between 2017 and 2020, China dominated South Korea's dried mushroom imports by volume, effectively monopolizing the market with a 92.0% share of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to South Korea in kind, 2017-2020

Imports in value, K $ US

In 2020, South Korea imported dried mushrooms worth 22 755 thousand US dollars, a slight increase of 1.1% compared to 2019. Over the 2017-2020 period, import value grew by 15.4%, with a compound annual growth rate (CAGR) of 4.9%. The peak import value was recorded in 2018 at 22 903 thousand US dollars. The largest decline occurred in 2019 with a 1.7% drop, while the largest increase was in 2018 with a 16.1% rise.

Annual dynamics of product's imports to South Korea in value, 2017-2020, K $ US

From 2017 to 2020, South Korea's dried mushroom imports in value terms were almost entirely concentrated in China, which accounted for 92.7% of the total.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to South Korea in value, 2017-2020