South Korea Capsicum Market was valued at USD 0.3 Billion in 2022 and is projected to reach USD 0.5 Billion by 2030, growing at a CAGR of 6.0% from 2024 to 2030.
South Korea's Capsicum Market: Industry Applications and Requirements
South Korea's capsicum market has experienced significant growth, driven by increased domestic consumption and export activities. As of 2016, the average individual consumption of bell peppers reached 0.90 kilograms, a substantial rise from 0.28 kilograms in 2006. This surge reflects a growing domestic appetite for capsicum products.
The cultivation area expanded from 424 hectares in 2010 to 724 hectares in 2016, marking a 70.7% increase. Correspondingly, production volumes rose from 41,000 tons to 77,000 tons during this period. Notably, over 90% of South Korea's bell pepper exports are destined for Japan, underscoring the importance of international markets for local producers.
Industries such as food processing, pharmaceuticals, and cosmetics have shown a heightened interest in capsicum due to its bioactive compounds. Red chili peppers, for instance, contain carotenoids, capsaicinoids, phenolics, vitamins C and E, and fatty acids, which offer various health benefits. This has led to their incorporation into functional foods, dietary supplements, and medicinal products.
However, the industry faces challenges, including the need for disease-resistant cultivars and adaptation to specific environmental conditions. While efforts have been made to develop such varieties, balancing productivity with the preservation of distinctive flavors remains a concern.
In response, local governments have initiated programs to revive indigenous cultivars like Subicho and Eumseong, known for their unique taste profiles. Comprehensive analyses of these varieties' phytochemical compositions are underway to enhance their utility in various applications.
As the capsicum market continues to evolve, stakeholders must focus on sustainable cultivation practices, quality enhancement, and meeting both domestic and international demand to maintain competitiveness.
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Levarht
Lipman Produce
J&J Family of Farms Corporate
Pero Family Farms Inc.
Oakes Farms
Southern Paprika Limited (SPL)
Fruit Farm Group
NatureFreshâ„¢Farms
Fresh Start Produce Sales
GK Fresh Greens
Paprika Oleo's India Limited
Titan Farms Inc
Lewis Taylor Farms
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Capsicum Market
Bell Pepper
Chili Pepper
Other Capsicum Varieties
Fresh Capsicum
Dried Capsicum
Frozen Capsicum
Canned Capsicum
Food and Beverages
Cosmetics and Personal Care
Pharmaceuticals
Animal Feed
Supermarkets/Hypermarkets
Online Retail
Convenience Stores
Direct Sales
Food Processing Industry
Pharmaceutical Industry
Cosmetic Industry
Agriculture Industry
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Capsicum Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Capsicum Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Capsicum Market, By Type
6. South Korea Capsicum Market, By Application
7. South Korea Capsicum Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Capsicum Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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