Extracts Of Tea Market Overview in South Korea
In value terms, extracts of tea production amounted to $ in estimated in export prices. In general, production, however, continues to indicate a temperate increase. The pace of growth was the most pronounced in 2014 when the production volume increased by % year-to-year. Over the period under review, production hit record highs at $ in 2015; however, from 2016 to , production remained at a lower figure.
The size of the extracts of tea market in South Korea surged to $ in , jumping by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated a notable expansion from 2007 to : its value increased at an average annual rate of +% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, consumption increased by +% against 2016 indices. The most prominent rate of growth was recorded in 2014 with an increase of % against the previous year. Over the period under review, the market attained the maximum level in and is expected to retain growth in the immediate term.