Prepared or preserved pork and offal market in South Korea

Earlier Report Observations

From 2018 to 2019, the market volume for prepared and preserved pork in South Korea increased from 19 628 t to 20 588 t. This growth was supported by a rise in imports, which responded to stricter environmental regulations for pig farms that reduced the number of domestic producers. Concurrently, the modernization of production facilities in China enhanced global efficiency and affected worldwide pork supply chains.

Starting in 2020, the market volume contracted sharply, falling to 16 967 t in 2020 and further to 12 614 t in 2021. The COVID-19 pandemic significantly impacted consumer behavior, particularly reducing demand for foodservice products, which led to an overall decline in consumption.

In 2022, the market stabilized at around 12 535 t, but dropped again to 9 646 t in 2023. High production costs on local farms, increased processing and distribution expenses, and general inflation continued to pressure purchasing power. At the same time, consumer preferences shifted toward placing greater emphasis on price and product quality rather than freshness or country of origin.

Production prepared or preserved pork and offal in South Korea

In kind, 2017-2020, t

From 2017 to 2020, South Korea ranked 15th globally in the production of prepared or preserved pork and offal.

Top producers of prepared or preserved pork and offal, 2017-2020

World map of production of prepared or preserved pork and offal, 2017-2020

In South Korea, production of prepared or preserved pork and offal declined for the second year in a row. In 2020, output reached 13,264 tonnes, marking a 5.0% decrease from the previous year. The highest production level was recorded in 2018 at 14,147 tonnes, which also saw the largest annual increase of 8.2%.

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

In value, 2017-2020, K $ US

South Korea's production of prepared or preserved pork and offal, measured in value terms, fell for the second consecutive year. In 2020, the output was valued at 60,182 thousand US dollars, down 8.1% from 2019. Over the 2017-2020 period, production decreased by 15.7%, with a compound annual growth rate (CAGR) of -5.5%. The peak value occurred in 2018 at 81,607 thousand US dollars, which also experienced the largest annual increase of 14.3%. The most significant decline was in 2019, dropping by 19.8%.

Annual dynamics of production in South Korea in value, 2017-2020, K $ US

Exports prepared or preserved pork and offal from South Korea

Exports in kind, t

South Korea's exports of prepared or preserved pork and offal, in volume terms, rose for the third straight year. In 2020, exports totaled 3,104 tonnes, a substantial 165.2% increase compared to 2019. From 2017 to 2020, exports surged by 281%, translating to an annualized growth rate of 56.2%.

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

Between 2017 and 2020, Hong Kong, Malaysia, and Vietnam were the primary markets for South Korea's exports of prepared or preserved pork and offal in volume terms. Hong Kong accounted for 35.5% of exports, Malaysia for 15.8%, and Vietnam for 14.0%, collectively representing 65.3% 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 exports of prepared or preserved pork and offal, in value terms, increased for the third consecutive year. In 2020, exports amounted to 14,085 thousand US dollars, up 156.7% from the previous year. Over the 2017-2020 period, exports grew by 216.7%, with an annualized rate of 46.9%.

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

From 2017 to 2020, Hong Kong, Vietnam, and the Philippines were the leading markets for South Korea's exports of prepared or preserved pork and offal in value terms. Hong Kong held a 36.4% share, Vietnam 15.4%, and the Philippines 11.0%, together making up 62.7% of total export value.

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 prepared or preserved pork and offal to South Korea

Imports in kind, t

After two years of growth, South Korea's imports of prepared or preserved pork and offal, in volume terms, declined. In 2020, imports stood at 6,807 tonnes, a sharp 12.6% drop from 2019. Over the 2017-2020 period, imports increased by 30.7%, with a CAGR of 9.3%. The highest import volume was in 2019 at 7,791 tonnes, which also saw the largest annual increase of 23.4%.

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

During 2017-2020, the United States and Denmark were the key partners for South Korea's imports of prepared or preserved pork and offal in volume terms, together accounting for 98.4% of total import flows, with other countries making up the remainder.

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 growth, South Korea's imports of prepared or preserved pork and offal, in value terms, decreased. In 2020, imports totaled 37,125 thousand US dollars, a modest 7.4% decline year-over-year. From 2017 to 2020, imports rose by 26.6%, with an annualized rate of 8.2%. The peak value was recorded in 2019 at 40,081 thousand US dollars, while the largest annual increase occurred in 2018 at 17.9%.

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

In the 2017-2020 period, the United States was the main supplier of prepared or preserved pork and offal to South Korea in value terms, capturing 72.2% of total imports, with a diverse group of other countries accounting for the rest.

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

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