Spinach market in South Korea

Earlier Report Observations

The volume of the fresh spinach market in South Korea stood at 73 237 t in 2018, against a background of rising disposable income and rapid e-commerce growth that expanded the reach of fresh food distribution. By 2021, however, market volume had fallen to 54 439 t, a decline of roughly 26% over four years.

The downward trend continued through 2020 and 2021 even as the COVID-19 pandemic spurred a surge in contactless consumption and a boom in dawn-delivery services for fresh food. Major retailers, including E-Mart, Hyundai Department Store, and Homeplus, widened their early-morning delivery offerings to cater to growing demand from single-person households and working mothers, though spinach volumes did not benefit from this shift.

After 2021, the spinach market stabilized, with a slight increase to 56 275 t in 2023. By 2024, the online fresh food market in South Korea had grown to KRW 36 trillion, fueled by intense competition among platforms such as Coupang, Naver, and Kurly. Investments in logistics infrastructure, like Lotte Shopping's advanced distribution center, aimed to enhance fresh food delivery efficiency and could support future market recovery.

Production spinach in South Korea

In kind, 2017-2020, t

South Korea was one of the world's leading spinach producers from 2017 to 2020, ranking 17th globally by production volume during this period.

Top producers of spinach, 2017-2020

World map of production of spinach, 2017-2020

Spinach production in South Korea declined for the second consecutive year. In 2020, the country produced 63 005 tons of spinach, representing an 11.1% decrease compared to the previous year. Between 2017 and 2020, production decreased by 2.4%, which equates to an annualized decline of 0.8%. The highest production volume was recorded in 2018 at 73 239 tons, marking the largest annual increase of 13.5% during this period.

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

Exports spinach from South Korea

Exports in kind, kg

The market exhibited significant volatility during these years. Exports reached their lowest point in 2018 at 1 974 kg, with the largest annual decline of 27.8% recorded that year. By 2020, exports peaked at 10 477 kg, showing a substantial 225.4% increase from the previous year. The difference between the peak in 2020 and the low in 2018 was 5.3-fold.

Annual dynamics of product's exports from South Korea in kind, 2017-2020, kg

From 2017 to 2020, Singapore, Hong Kong, and the Northern Mariana Islands formed the core group of markets for South Korea's spinach exports in kind. Singapore accounted for 43.9% of exports, Hong Kong for 26.6%, and the Northern Mariana Islands for 8.4%. Together, these three markets represented 78.8% 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, $ US

The market showed considerable volatility during this period. Exports in value terms reached their lowest point in 2018 at 9 869 US dollars, with the largest annual decline of 25.9% recorded that year. By 2020, exports peaked at 69 609 US dollars, reflecting a significant 200.8% increase compared to 2019. The gap between the 2020 peak and the 2018 low was 7.1-fold.

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

From 2017 to 2020, Singapore, Hong Kong, and Vietnam led the structure of South Korea's spinach exports in value terms. Singapore accounted for 48.2% of exports, Hong Kong for 25.7%, and Vietnam for 8.4%. Collectively, these three markets represented 82.3% 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 spinach to South Korea

Imports in kind, kg

Spinach imports to South Korea increased for the third consecutive year. In 2020, import volume reached 1 718 kg, showing a remarkable 7 709.1% increase from the previous year. Between 2017 and 2020, imports grew by 190 788.9%, with a compound annual growth rate of 1 140.5%.

Annual dynamics of product's imports to South Korea in kind, 2017-2020, kg

From 2017 to 2020, imports of spinach to South Korea in kind were almost entirely concentrated in Australia, which accounted for 98.5% of total imports.

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, $ US

Foreign spinach supplies to South Korea increased for the third consecutive year. In 2020, imports amounted to 15 287 US dollars, representing a substantial 4 692.2% year-over-year increase. Between 2017 and 2020, imports grew by 117 492.3%, equating to an annualized growth rate of 955.5%.

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

Throughout 2017 to 2020, Australia dominated the partner structure of spinach imports to South Korea in value terms, consistently accounting for 98.7% of total import 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