Flour or powder of dried legumes market in South Korea

Earlier Report Observations

From 2018 to 2021, the market volume for flour or powder of dried legumes in South Korea fluctuated, starting at 433 t in 2018 and peaking at 660 t in 2019 before a slight contraction. The 2019 increase coincided with rising soybean imports due to free trade agreements, which were reported to reduce domestic cultivation area and increase reliance on foreign supplies. Thereafter, the market stabilized around 587–607 t, while early alternative food trends gained momentum, including growing demand for plant-based proteins and edible insect powders.

Beginning in 2022, market volume surged, reaching 947 t in 2022 and 1 024 t in 2023. This jump was driven by the expansion of the alternative food market, where products like soy meat and tofu noodles attracted heightened consumer interest. At the same time, government measures to regulate soybean supply and regulatory innovations for alternative proteins supported consumption growth. Imports of legume flour rose substantially, becoming the main driver of market expansion.

Production flour or powder of dried legumes in South Korea

In kind, 2017-2020, t

Top producers of flour or powder of dried legumes, 2017-2020

World map of production of flour or powder of dried legumes, 2017-2020

South Korea's production of flour or powder from dried legumes declined after two years of growth. In 2020, output reached 256.9 t, marking a 4.0% decrease from the previous year. Over the 2017-2020 period, production rose by 25.4%, with an average annual growth rate of 7.8%. The peak was recorded in 2019 at 267.4 t, which also saw the largest annual increase of 20.2%.

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

Exports flour or powder of dried legumes from South Korea

Exports in kind, t

South Korea's exports of flour or powder from dried legumes fell for the third consecutive year. In 2020, export volume stood at 7.6 t, down 8.9% from the prior year. Between 2017 and 2020, exports dropped by 77%, equivalent to an annualized decline of 38.7%.

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

From 2017 to 2020, the United States was the primary destination for exports in kind, accounting for 72.5% of total flows, while the remainder was spread across various smaller markets.

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

After two years of decline, South Korea's exports of flour or powder from dried legumes in value terms rebounded. In 2020, exports were recorded at 49.2 K $ US, reflecting an 18.9% increase from the previous year. Over the 2017-2020 period, however, exports decreased by 61.4%, with an average annual decline of 27.2%. The lowest point was in 2019 at 41.4 K $ US, which also experienced the sharpest drop of 66.9%.

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

Throughout 2017–2020, the United States and Vietnam were the key markets for exports in value terms, together making up 82.6% of total flows, with other destinations holding relatively smaller shares.

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 flour or powder of dried legumes to South Korea

Imports in kind, t

After two years of growth, South Korea's imports of flour or powder from dried legumes in kind declined. In 2020, imports stood at 337.8 t, a 15.7% decrease from 2019. Over the 2017-2020 period, imports increased by 97.5%, with an average annual growth rate of 25.5%. The highest level was in 2019 at 400.6 t, which also saw the largest annual rise of 64.1%.

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

From 2017 to 2020, China, the United States, and India were the leading sources for imports in kind of flour or powder from dried legumes to South Korea. China accounted for 46.2% of imports, the United States for 12.5%, and India for 11.5%, together representing 70.1% 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

Following two years of increase, South Korea's imports of flour or powder from dried legumes in value terms dipped. In 2020, imports totaled 413.3 K $ US, showing a modest year-on-year decline of 5.8%. Between 2017 and 2020, imports grew by 53.6%, equating to an annualized rate of 15.4%. The peak was in 2019 at 438.9 K $ US, with the largest increase occurring in 2018 at 33.0%.

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

During 2017–2020, China, India, and the United States topped the list of suppliers for imports in value terms of flour or powder from dried legumes to South Korea. China held 55.8% of imports, India 10.9%, and the United States 8.9%, collectively accounting for 75.6% of total import value.

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

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