The market is dominated by domestic suppliers, as imports account for 21.6% of total market size in 2023. Households drive market demand, with household spending representing 68.4% of total demand in 2023. South Korea has the fifth largest market size for dairy products regionally, with demand reaching USD9.4 billion in 2023. Seoul Dairy Cooperative is the largest company in South Korea, generating 24.3% of the industry’s total production value in 2023. The industry is concentrated, with the top five companies generating 88.8% of total production value in 2023. The total number of companies increases in 2023, to 272 units. The costs of the industry increase by 0.7% in 2023, largely driven by rising B2B costs. The industry’s profitability decreases and stands at 8.3% of production value in 2023, the 15th highest regionally. The industry’s exports share decreases in 2023 to 2.5% of total production output. With production value of USD5.3 billion, South Korea accounts for 3.4% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Dairy Products in South Korea: ISIC 152. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Dairy Products in South Korea: ISIC 152 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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