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In 2024, the South Korean cheese market decreased by -24.2% to $624M for the first time since 2018, thus ending a five-year rising trend. In general, the total consumption indicated a notable expansion from 2012 to 2024: its value increased at an average annual rate of +4.8% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period.
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For the eighth consecutive year, the South Korean uncured cheese market recorded growth in sales value, which increased by 0.1% to $551M in 2024. In general, consumption, however, enjoyed prominent growth. Uncured cheese consumption peaked in 2024 and is likely to see gradual growth in the immediate term.
In 2023, the value of dairy imports to South Korea stood at around 349.56 million U.S. dollars, up from the roughly 369.63 million U.S. dollars in the previous year. While this year showed a slight decrease, the previous increase in dairy product imports was most likely due to the rising demand for dairy products in South Korea which can not be satisfied by only domestic dairy production. Most popular dairy products Among the most consumed dairy products in South Korea are fluid and processed milk, fermented milk products, and cheese, which has become a popular topping for various Korean dishes. Milk was often seen as a snack given to children in school during breaks or even used as a meal substitute, with flavored milk being more popular than non-flavored milk. According to a survey, the most popular brand of milk was Seoul Milk, which was also reflected in the market share of leading milk brands. Do South Koreans prefer domestic milk products? According to a survey on important criteria when purchasing milk, buying domestic milk was important for around a fifth of the population, less so for consumers with a rather high or lower income. Of those aware of domestic milk and the “K-milk” label, the large majority preferred to purchase domestic milk rather than imported milk.
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In 2024, the South Korean market for processed cheese (excluding grated or powdered) increased by 6.5% to $404M, rising for the eighth year in a row after two years of decline. The market value increased at an average annual rate of +2.7% from 2012 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, the market reached the maximum level in 2024 and is expected to retain growth in the immediate term.
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The South Korean cheese and curd market totaled $5.9B in 2024, therefore, remained relatively stable against the previous year. In general, the total consumption indicated moderate growth from 2012 to 2024: its value increased at an average annual rate of +3.6% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +61.1% against 2015 indices.
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In 2024, the South Korean market for pasta stuffed with meat, fish and cheese decreased by -0.9% to $493M, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, showed a resilient increase. Meat, fish or cheese pasta consumption peaked at $516M in 2018; however, from 2019 to 2024, consumption remained at a lower figure.
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Attribution 4.0 (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/
License information was derived automatically
In 2024, the South Korean cheese market decreased by -24.2% to $624M for the first time since 2018, thus ending a five-year rising trend. In general, the total consumption indicated a notable expansion from 2012 to 2024: its value increased at an average annual rate of +4.8% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period.