Dried shelled beans market in South Korea

Earlier Report Observations

Between 2018 and 2023, the South Korean market for dried shelled beans experienced notable fluctuations, with volume ranging from 54 740 metric tons to 64 655 metric tons. The market peaked in 2021 at over 64 000 metric tons, following a period of decline in the previous years.

After reaching 58 234 metric tons in 2018, market volume dipped slightly in 2019 and fell more sharply in 2020 to 54 740 metric tons. The following year saw a strong rebound of 18%, pushing the market to its highest point in the period. However, this gain was partially reversed in 2022, with volume dropping back to 59 785 metric tons, before a modest recovery in 2023 to 60 611 metric tons.

Overall, the market showed volatility, with the 2021 surge standing out as the most significant movement in the six-year span.

Production dried shelled beans in South Korea

In kind, 2017-2020, t

Top producers of dried shelled beans, 2017-2020

World map of production of dried shelled beans, 2017-2020

South Korea's production of dried shelled beans declined after two years of growth. In 2019, production reached its peak at 9,137 tons, marking an 18.3% increase from the previous year. However, by 2020, production had fallen to 7,407 tons, representing an 18.9% decrease compared to 2019.

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

Exports dried shelled beans from South Korea

Exports in kind, t

The export market for dried shelled beans from South Korea showed significant volatility during the observed period. In 2018, exports hit their lowest point at just 5 tons. The following year, in 2019, exports surged to 128 tons, a remarkable 2,491.7% increase, which was also the peak for the period. By 2020, exports had dropped sharply to 8 tons, a 94.0% decline from 2019, with a 26-fold difference between the peak in 2019 and the trough in 2018.

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

From 2017 to 2020, the United States dominated South Korea's dried shelled bean exports in volume, accounting for 75.6% of the total. The remaining exports were distributed among numerous other countries, each with relatively small individual shares.

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

Export values for dried shelled beans from South Korea exhibited irregular fluctuations, indicating a volatile market. In 2018, exports reached their minimum at 29,000 US dollars. The following year, in 2019, exports peaked at 170,000 US dollars, a 479.7% increase from the previous year. By 2020, exports had declined to 49,000 US dollars, down 70.8% from 2019, with a 5.8-fold difference between the high in 2019 and the low in 2018.

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

During the 2017–2020 period, the United States was the leading buyer of dried shelled beans from South Korea in value terms, accounting for 58.1% of exports. Canada followed with 14.0%, and the United Kingdom with 7.7%. Together, these three countries represented 79.7% of South Korea's total export value for dried shelled beans.

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 shelled beans to South Korea

Imports in kind, t

South Korea's imports of dried shelled beans in volume declined for the second consecutive year. In 2018, imports reached their maximum at 50,516 tons, an 8.9% increase from the previous year. The following year, in 2019, imports fell by 4.1%. By 2020, imports had decreased slightly to 47,341 tons, a 2.3% drop from 2019.

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

From 2017 to 2020, China was the primary supplier of dried shelled beans to South Korea in volume, making up 60.1% of imports. Myanmar contributed 16.8%, and Canada 13.6%. Collectively, these three countries accounted for 90.4% of South Korea's total import volume.

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

South Korea's imports of dried shelled beans in value increased for the third consecutive year. In 2020, imports totaled 55,672,000 US dollars, up 19.8% from 2019. Over the 2017–2020 period, imports grew by 26.1%, with a compound annual growth rate (CAGR) of 8.0%.

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

During the 2017–2020 period, China led in the value of dried shelled bean imports to South Korea, accounting for 64.8% of the total. Myanmar followed with 14.4%, and Canada with 10.3%. Together, these three countries comprised 89.5% of South Korea's total import value for dried shelled beans.

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

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