Key regions: United Kingdom, Germany, Italy, United States, Brazil
South Korea, known for its advanced technology and delicious cuisine, has a thriving fruit market that caters to the taste buds of its population.
Customer preferences: South Koreans are health-conscious and prefer fruits that are fresh, nutritious, and visually appealing. They prefer to purchase fruits that are in season and grown locally, as they believe that it ensures the quality and freshness of the produce. Moreover, South Koreans have a preference for exotic fruits such as kiwi, mango, and papaya, which have become increasingly popular in recent years.
Trends in the market: The fruit market in South Korea has been growing steadily in recent years, with an increasing demand for healthy food options. The market has seen a rise in the consumption of fruits such as strawberries, blueberries, and grapes, which are considered superfoods due to their high nutritional value. Additionally, there has been a growing trend towards organic fruits, as consumers become more aware of the potential health risks associated with pesticides and other chemicals used in the production of fruits.
Local special circumstances: South Korea's unique geography and climate have created a unique fruit market, with a wide variety of fruits that are grown locally. The country's mountainous terrain provides ideal conditions for the cultivation of fruits such as persimmons, pears, and apples. Moreover, South Korea's proximity to other Asian countries has allowed for the importation of exotic fruits such as durian and dragon fruit, which have become increasingly popular in recent years.
Underlying macroeconomic factors: The South Korean government has been actively promoting the consumption of fruits as part of a healthy diet, which has helped to boost the fruit market. Additionally, the country's growing economy has led to an increase in disposable income, allowing consumers to spend more on high-quality fruits. The rise of e-commerce platforms has also made it easier for consumers to purchase fruits online, which has contributed to the growth of the market.
Data coverage:
The data encompasses B2B. Figures are based on the value of gross production in the agriculture market, which values of production are calculated by multiplying gross production by output prices at the farm gate.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting agriculture products due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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