Pig offal market in South Korea

Earlier Report Observations

The pig offal market in South Korea expanded from 210.3 thousand tons in 2018 to 225.5 thousand tons in 2020, supported by increasing overall pork consumption and the growth of the home meal replacement (HMR) sector. Free trade agreements and quota tariffs facilitated import flows, including rising shipments of pork from China, which helped meet demand during this period.

Market volume contracted to 215.7 thousand tons in 2021 as heightened consumer price sensitivity led some buyers to switch to alternative meats like chicken, contributing to a sharp drop in pork imports. The market stabilized near 215.8 thousand tons in 2022, with steady domestic production and an expectation of lower import prices due to falling wholesale costs and exchange rates.

A recovery to 220.7 thousand tons took place in 2023, driven by increased imports of frozen pork belly and the resumption of German pork shipments. The concurrent expansion of online food sales and the convenience food market provided additional demand, partly offsetting challenges from extreme weather affecting livestock farms.

Production pig offal in South Korea

In kind, 2017-2020, K t

On a global scale, South Korea ranked as the 7th largest producer of pig offal from 2017 to 2020.

Top producers of pig offal, 2017-2020

World map of production of pig offal, 2017-2020

South Korea's pig offal production grew for the third consecutive year. In 2020, the country produced 187.7 K t of pig offal, marking a modest increase of 2.9% compared to 2019. Over the period from 2017 to 2020, production rose by 9.6%, which translates to an annualized growth rate of 3.1%.

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

Exports pig offal from South Korea

Exports in kind, t

The market showed significant fluctuations during this period. Import levels varied dramatically, with a 37-fold difference between the peak in 2018 and the low in 2020. In 2020, South Korea's pig offal exports totaled 24 t, representing a sharp year-on-year decline of 36.1%. The highest export volume was recorded in 2018 at 896 t. The largest decrease occurred in 2019, with a drop of 95.8%, while the biggest increase was in 2018, at 25.4%.

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

From 2017 to 2020, Vietnam was the overwhelmingly dominant buyer of pig offal from South Korea, accounting for 92.5% of total exports in volume.

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, M $ US

The market displayed an unstable trend throughout the timeframe. Exports changed significantly, with a 43-fold difference from the peak in 2018 to the trough in 2019. In 2020, the value of exported pig offal from South Korea was 0.0 M $ US, showing an increase of 27.6% compared to the previous year. The minimum value was recorded in 2019 at 0.0 M $ US, while the maximum was in 2018 at 1.3 M $ US. The largest decline occurred in 2019, with a decrease of 97.7%.

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

From 2017 to 2020, pig offal exports from South Korea were largely directed toward Vietnam, which accounted for 94.2% of total exports in value terms.

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 pig offal to South Korea

Imports in kind, t

After two years of growth, South Korea's pig offal import volume declined. In 2020, imports amounted to 37 849 t, indicating a slight decrease of 1.5% compared to 2019. Between 2017 and 2020, imports increased by 64.2%, equating to an annualized rate of 18.0%. The highest import volume was recorded in 2019 at 38 433 t, and the largest increase was in 2018, at 44.7%.

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

Throughout 2017 to 2020, the three largest markets for imports in volume were Australia, the United States, and Spain, which together accounted for 79.4% 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, M $ US

The data reveals irregular changes, pointing to a volatile market environment. Imports peaked in 2019 and reached their lowest point in 2017, with a 2.1-fold difference between these years. In 2020, pig offal imports into South Korea amounted to 140.0 M $ US, reflecting a substantial reduction of 12.4% compared to the previous year. The maximum value was recorded in 2019 at 159.8 M $ US, and the largest increase occurred in 2018, at 82.6%.

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

From 2017 to 2020, the United States (41.1% of imports in value terms), Australia (23.1%), and Spain (12.0%) consistently remained the main sources for imports in value terms, together accounting for 76.2% of total flows.

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

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