Walnuts market in South Korea

Earlier Report Observations

Between 2018 and 2020, South Korea's walnut market volume showed modest fluctuations, starting at 13 690 tons in 2018. A rise to 13 971 tons in 2019 was partly supported by growing consumer preference for the 'Sinryeong' walnut variety, which commanded higher prices and encouraged import activity. Domestic production, however, remained constrained due to agronomic challenges such as delayed fruiting and limited supply of shelled walnuts. The market volume then dipped to 13 557 tons in 2020.

A sharp expansion occurred in 2021, with the market volume jumping 34% to 18 132 tons. This surge was driven by the global shift toward plant‑based foods, which boosted demand for walnuts as a key ingredient in vegan and functional products. Imports of California walnuts, in particular, rose dramatically during this period. In 2022 the market corrected, declining to 16 157 tons, but still remained well above pre‑2021 levels.

Growth resumed in 2023, reaching 16 972 tons, and import figures for 2024 continued to advance. The market is being underpinned by active investment in marketing and technology—such as precision irrigation and harvest automation—as well as by the ongoing diversification of walnut‑based products in the vegan food segment.

Production walnuts in South Korea

In kind, 2017-2020, t

Top producers of walnuts, 2017-2020

World map of production of walnuts, 2017-2020

Walnut production in South Korea has declined for the third year in a row. In 2020, the country produced 1,125 tons of walnuts, which is 2.8% lower than in 2019. Over the period from 2017 to 2020, production fell by 6.1%, representing an average annual decline of 2.1%.

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

In value, 2017-2020, K $ US

South Korea's walnut production has decreased for the third consecutive year. In 2020, the output was valued at 7,062 thousand US dollars, marking a 6.3% drop compared to the previous year. Between 2017 and 2020, production declined by 29.1%, which translates to an average annual rate of 10.8%.

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

Exports walnuts from South Korea

Exports in kind, t

South Korea's walnut exports have declined for the second year in a row. In 2020, exports amounted to 24 tons, showing a significant decrease of 21.5% compared to 2019. From 2017 to 2020, exports fell by 30.5%, with an average annual decline of 11.4%. The highest export volume was recorded in 2018 at 39 tons, which also saw the largest increase of 12.3% that year.

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

Between 2017 and 2020, the main markets for South Korea's walnut exports in volume terms were the United States, accounting for 52.3% of exports, Japan with 22.9%, and the United Arab Emirates at 14.2%. Together, these three countries made up 89.5% 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, M $ US

Walnut exports from South Korea have declined for the second consecutive year. In 2020, the country exported 0.2 million US dollars worth of walnuts, representing a sharp fall of 24.4% compared to 2019. Over the period from 2017 to 2020, exports decreased by 47.5%, with an average annual decline of 19.3%. The peak value was recorded in 2018 at 0.3 million US dollars, which also saw the largest increase of 3.8%. In contrast, 2019 experienced the largest decline of 33.1%.

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

From 2017 to 2020, the United States and Japan were the dominant markets for South Korea's walnut exports in value terms, while other countries played a much smaller role.

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 walnuts to South Korea

Imports in kind, t

In 2020, South Korea imported 12,456 tons of walnuts from abroad, reflecting a 3.0% decrease compared to 2019. Between 2017 and 2020, imports fell by 14.3%, with an average annual decline of 5.0%. The largest drop occurred in 2018 at 13.6%, while 2019 saw the largest increase of 2.3%.

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

Throughout the period from 2017 to 2020, the United States dominated South Korea's walnut imports in volume terms, consistently accounting for 97.2% 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

After two years of decline, South Korea's walnut imports from abroad increased in 2020. The import value stood at 84.3 million US dollars, which is 1.5% higher than in 2019. However, over the period from 2017 to 2020, imports decreased by 23.6%, with an average annual decline of 8.6%. The lowest value was recorded in 2019 at 83.1 million US dollars, which also saw the largest decline of 21.8%.

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

Between 2017 and 2020, the partner base for South Korea's walnut imports in value terms was highly concentrated, with the United States alone responsible for 97.1% 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