Watermelons market in South Korea

Earlier Report Observations

The watermelon market in South Korea began the period at 476.5 thousand tons in 2018. Industry factors that year included declining watermelon prices and rising production costs, which prompted some farmers to switch to other crops like onions and garlic. Concurrently, there was a growing trend toward cultivating small-sized and colored specialty watermelon varieties, reflecting shifting consumer preferences.

Market volume experienced a slight dip to 475.7 thousand tons in 2019, then a more noticeable decline to 466.2 thousand tons in 2020. It rebounded sharply in 2021, reaching 488.9 thousand tons, before stabilizing near 487.0 thousand tons in 2022. These fluctuations occurred without specific reported market events in the source material for 2019-2021.

In 2022, research and development efforts focused on improving watermelon cultivation, including the development of standard methods for mini-watermelons and technologies for more efficient production of medium and small-sized fruit. The following year, the market volume fell to 465.0 thousand tons. This decrease coincided with extreme summer heat, which, alongside increased consumer demand supported by government relief payments, drove watermelon prices up significantly. The heat likely constrained supply, contributing to the lower volume available on the market.

Production watermelons in South Korea

In kind, 2017-2020, K t

From 2017 to 2020, South Korea ranked 24th globally in watermelon production.

Top producers of watermelons, 2017-2020

World map of production of watermelons, 2017-2020

Watermelon production in South Korea declined for the third consecutive year. In 2020, the country produced 466.5 thousand tons of watermelons, reflecting a slight decrease of 2.0% compared to 2019. Between 2017 and 2020, production fell by 7.9%, equating to an annualized decline of 2.7%.

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

In value, 2017-2020, M $ US

After a two-year increase, watermelon production in South Korea declined. In 2020, the output was valued at 791.5 million US dollars, down by 18.5% year-over-year. Between 2017 and 2020, production decreased by 3.1%, with an annualized rate of 1.0%. The highest value was recorded in 2019 at 971.8 million US dollars, while the largest increase occurred in 2018 at 9.2%.

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

Exports watermelons from South Korea

Exports in kind, t

South Korea exported 350.1 tons of watermelons in 2020, representing a 63.8% increase over the previous year. From 2017 to 2020, exports grew by 64.6%, with a compound annual growth rate of 18.1%. The largest decline was recorded in 2019 at 20.1%.

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

From 2017 to 2020, Hong Kong and Japan were the core markets for South Korea's watermelon exports in volume terms, jointly accounting for 81.1% of total flows, while other destinations had comparatively modest shares.

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 exported 594.0 thousand US dollars worth of watermelons in 2020, amounting to a sharp advance of 36.1% over the previous year. Over the period 2017-2020, exports increased by 73.2%, with a compound annual growth rate of 20.1%. The largest decline was recorded in 2019 at 12.8%, while the largest increase occurred in 2018 at 45.9%.

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

Throughout 2017 to 2020, Hong Kong and Japan remained the key partner countries for South Korea's watermelon exports in value terms, with a combined share of 80.4% of total flows; other partners accounted for the remainder.

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 watermelons to South Korea

Imports in kind, t

There were noticeable fluctuations in market performance during this period. Volumes reached their minimum in 2020 and peaked in 2018, showing a 5.3-fold difference. South Korea imported 42.6 tons of watermelons in 2020, which is 73.3% less than the previous year. The maximum volume was recorded in 2018 at 159.2 tons, while the largest increase occurred in 2018 at 44.5%.

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

From 2017 to 2020, imports of watermelons to South Korea in volume terms were heavily concentrated on the United States and New Zealand, whose combined share reached 100.0% 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

After a two-year gain, imported watermelon volumes in South Korea declined. In 2020, imports amounted to 232.6 thousand US dollars, which is 63.0% less compared to 2019. Between 2017 and 2020, imports decreased by 35.9%, equating to an annualized decline of 13.8%. The maximum value was recorded in 2019 at 629.2 thousand US dollars, while the largest increase occurred in 2018 at 46.6%.

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

Throughout 2017 to 2020, New Zealand and the United States remained the principal suppliers of watermelons to South Korea, together accounting for 100.0% of total imports in value terms.

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

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