South Korean Food Trends

Summary

Korea, the 13th largest economy globally, is a major market for US food and agricultural exports, importing billions of dollars in products. Key trends include an aging population seeking healthy, functional foods like nutrition bars, dried fruits, and probiotics. The rise of single-member households due to low birth rates has increased demand for convenient, home-meal replacement options. Frozen foods, breakfast items, and high-end specialty products are also growing in popularity. Additionally, outdoor enthusiasts are opting for high-protein, high-fiber foods like nutrition bars. These trends present significant export opportunities for US suppliers.

Takeaways

• 😀 Korea is the fifth largest market for US food and agricultural products.
• 😀 Seoul, the capital of Korea, has a population of 20 million, contributing to Korea's 50 million total population.
• 😀 Korea is the 13th largest economy in the world and imported $32 billion worth of food and agricultural products last year.
• 😀 The US exported $8.1 billion worth of food and agricultural products to Korea in the past year.
• 😀 Korea has a growing demand for health-conscious foods such as nutrition bars, dried nuts, fruits, and probiotics.
• 😀 The aging population in Korea is driving the demand for more healthy and functional foods.
• 😀 The number of single-member and two-member households is increasing due to late marriages and a low birth rate.
• 😀 Home meal replacement foods, ready-to-cook, and ready-to-eat products are becoming more popular in Korea.
• 😀 Frozen foods are growing in popularity, particularly among working women, for their convenience.
• 😀 There is a growing demand for premium and high-end specialty foods in Korea, which are distributed through premium department stores.

Q & A

What is Korea's position in the global food and agricultural market?

Korea is the fifth largest market for U.S. food and agricultural products.

How many people live in Seoul, the capital city of Korea?

Approximately 20 million people live in Seoul, the capital city of Korea.

What is the total amount of food and agricultural products Korea imports annually?

Korea imports a total of $32 billion in food and agricultural products each year.

How much of Korea's food and agricultural imports come from the U.S.?

Korea imports $8.1 billion worth of food and agricultural products from the U.S. annually.

What are some consumer trends in Korea related to food preferences?

Consumers in Korea are increasingly interested in healthy and functional foods, such as nutrition bars, dried nuts, fruits, and probiotic products.

How is the household structure in Korea changing, and how does it affect food consumption?

The number of multi-member households is decreasing, while single-member or two-member households are increasing due to late marriages and low birth rates. This shift increases the demand for home meal replacement foods, ready-to-cook, and ready-to-eat products.

What are some popular food product categories in Korea currently?

Popular food categories in Korea include frozen foods, breakfast items, bakery products, premium and high-end specialty foods, and health-conscious snacks like nutrition bars.

Why are frozen foods becoming more popular in Korea?

Frozen foods are gaining popularity due to their convenience, especially among working women who prefer quick, easy-to-prepare meals.

What is the expanding trend in the breakfast market in Korea?

The breakfast market in Korea is growing, with more cafes offering diverse breakfast menus. Bakery products and ingredients are also in high demand.

What type of products are in demand for outdoor activities in Korea?

Products high in nutrition, fiber, and protein, such as nutrition bars and high-protein products, are becoming increasingly popular due to the rise in outdoor activities like camping and mountain climbing.