The market is dominated by domestic suppliers, as imports account for 28.4% of total market size in 2022. Investments drive market demand, with investments representing 62.5% of total demand in 2022. South Korea has the sixth largest market size for machinery for food, beverage and tobacco processing regionally, with demand reaching USD861 million in 2022. Hyupjin Machinery Co Ltd is the largest company in South Korea, generating 2.7% of the industry’s total production value in 2022. The industry is fragmented, with the top five companies generating 8.7% of total production value in 2022. The total number of companies increases in 2022, to 1,485 units. The costs of the industry decrease by 9.6% in 2022, largely driven by declining B2B costs. The industry’s profitability increases and stands at 5.0% of production value in 2022, the 12th highest regionally. The industry’s exports share increases in 2022 to 17.3% of total production output. With production value of USD715 million, South Korea accounts for 2.3% of the Asia Pacific total in 2022.
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This Euromonitor industrial report provides unique information on Machinery for Food, Beverage and Tobacco Processing in South Korea: ISIC 2925. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Machinery for Food, Beverage and Tobacco Processing in South Korea: ISIC 2925 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
This is the aggregation of general purpose machinery and special purpose machinery.
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