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Report
South Korea Dairy Market Report and Forecast 2024-2032
Market Report I 2023-10-30 I 90 Pages I EMR Inc.
South Korea Dairy Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the South Korea dairy market reached a value of USD 3.91 billion in 2023. The market is projected to further grow at a CAGR of 4% between 2023 and 2032 to reach a value of USD 5.52 billion by 2032.
Dairy products, with their profound nutritional credentials, have been the cornerstone of many diets globally, and South Korea is no exception. From milk, cheese, and butter to yogurt and fermented products like kimchi, the spectrum of dairy products consumed in South Korea is vast and varied. Their integration into both traditional Korean cuisines and modern dietary patterns has only solidified their presence in the nation's culinary landscape.
A key South Korea dairy market trend is the rising health consciousness among consumers. Modern South Korean consumers are increasingly veering towards dairy products fortified with vitamins, minerals, and other essential nutrients. The demand for low-fat, organic, and lactose-free variants has seen a marked upswing, indicating a shift towards healthier dairy choices.
Moreover, the fusion of traditional flavours with dairy products has garnered significant attention in South Korea. Dairy products incorporating native ingredients, such as ginseng-infused milk or Jeju mandarin-flavoured yogurt, are rapidly gaining traction, offering consumers a unique blend of health and taste. This innovation in product formulation ensures that the dairy market remains vibrant and dynamic.
The growing emphasis on probiotics and their health benefits has further influenced the South Korea dairy market outlook. Fermented dairy products like yogurt, containing beneficial bacteria, have seen a surge in popularity, given their digestive health benefits. As gut health becomes a focal point of nutrition discussions in the nation, probiotic-rich dairy products are positioned at the forefront of this movement.
The dairy market in South Korea has also benefited from efficient supply chains and advanced refrigeration technologies. The swift and safe delivery of fresh dairy products to consumers has been streamlined, ensuring that the quality and nutritional value are uncompromised. Additionally, advancements in packaging, ensuring prolonged shelf life and maintaining freshness, have played a crucial role in driving consumer confidence and increasing consumption.
Additionally, concerns about lactose intolerance and the environmental impact of dairy farming can affect South Korea dairy market growth. Yet, the industry's efforts in sustainable farming, combined with innovations producing lactose-free dairy products, provide a balanced counter.
Market Segmentation
The market can be divided based on product, and distribution channel.
Market Breakup by Product
- Milk
- Dry Milk
o Non Fat
o Full Fat
- Cheese
o Natural
o Processed
- Yogurt
- Butter
- Baby Formula
- Condensed Milk
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores and Discount Stores
- Speciality Stores
- Online
- Department Stores
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the South Korea dairy market. Some of the major players explored in the report by Expert Market Research are as follows:
- Maeil Co.Ltd
- Namyang Dairy Products Co., Ltd.
- Seoul Milk Cooperative
- Dairyzen Co., Ltd
- Nestle SA
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Industry Opportunities and Challenges
8 South Korea Dairy Market Analysis
8.1 Key Industry Highlights
8.2 South Korea Dairy Historical Market (2018-2023)
8.3 South Korea Dairy Market Forecast (2024-2032)
8.4 South Korea Dairy Market by Product
8.4.1 Milk
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Dry Milk
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.2.4 Breakup by Type
8.4.2.4.1 Non Fat
8.4.2.4.2 Full Fat
8.4.3 Cheese
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.3.4 Breakup by Type
8.4.3.4.1 Natural
8.4.3.4.2 Processed
8.4.4 Yogurt
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Butter
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2023)
8.4.5.3 Forecast Trend (2024-2032)
8.4.6 Baby Formula
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2023)
8.4.6.3 Forecast Trend (2024-2032)
8.4.7 Condensed Milk
8.4.7.1 Market Share
8.4.7.2 Historical Trend (2018-2023)
8.4.7.3 Forecast Trend (2024-2032)
8.5 South Korea Dairy Market by Distribution Channels
8.5.1 Supermarkets and Hypermarkets
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Convenience Stores and Discount Stores
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Speciality Stores
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Online
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 Department Stores
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2023)
8.5.5.3 Forecast Trend (2024-2032)
9 Market Dynamics
9.1 SWOT Analysis
9.1.1 Strengths
9.1.2 Weaknesses
9.1.3 Opportunities
9.1.4 Threats
9.2 Porter's Five Forces Analysis
9.2.1 Supplier's Power
9.2.2 Buyer's Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key Indicators for Demand
9.4 Key Indicators for Price
10 Value Chain Analysis
11 Trade Data Analysis
11.1 Major Exporting Countries
11.1.1 By Value
11.1.2 By Volume
11.2 Major Importing Countries
11.2.1 By Value
11.2.2 By Volume
12 Price Analysis
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Maeil Co.Ltd
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Namyang Dairy Products Co., Ltd.
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Seoul Milk Cooperative
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Dairyzen Co., Ltd
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Nestle SA
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Others
14 Industry Events and Developments
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