The market is dominated by domestic suppliers, as imports account for 26.2% of total market size in 2022. B2B drives market demand, with B2B spending representing 95.9% of total demand in 2022. South Korea has the seventh largest market size for starches and starch products regionally, with demand reaching USD1.8 billion in 2022. Ingredion Korea Inc is the largest company in South Korea, generating 20.1% of the industry’s total production value in 2022. The industry is fragmented, with the top three companies generating 45.7% of total production value in 2022. The total number of companies increases in 2022, to 439 units. The costs of the industry decrease by 3.2% in 2022, largely driven by declining B2B costs. The industry’s profitability increases and stands at 3.3% of production value in 2022, the 19th highest regionally. The industry’s exports share decreases in 2022 to 5.1% of total production output. With production value of USD1.3 billion, South Korea accounts for 2.6% of the Asia Pacific total in 2022.
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This Euromonitor industrial report provides unique information on Starches and Starch Products in South Korea: ISIC 1532. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Starches and Starch Products in South Korea: ISIC 1532 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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