Key Takeaways
- The South Korean food and beverage market reached a value of 192.5 trillion KRW in 2023, marking a 3.8% year-on-year growth driven by premiumization trends.
- Food sector revenue in South Korea accounted for 65% of the total F&B market in 2023, totaling 125.1 trillion KRW.
- Beverage segment generated 67.4 trillion KRW in 2023, with non-alcoholic drinks leading at 45% share.
- Instant noodles production reached 8.1 billion packs in 2023.
- Kimchi production volume was 1.92 million tons in 2023.
- Beer production totaled 1.45 million kiloliters in 2023.
- Per capita F&B consumption was 1,250 kg in 2023.
- 68% of South Koreans consumed instant noodles weekly in 2023 survey.
- Plant-based food consumption grew 25% YoY to 150,000 tons in 2023.
- F&B exports from Korea totaled 10.2 billion USD in 2023.
- Ramen export value: 1.1 billion USD, top F&B export item in 2023.
- Kimchi exports reached 450 million USD in 2023.
- 45% of F&B firms adopted AI for personalization in 2023.
- Sustainability packaging use: 62% in beverages by 2023.
- Vegan product launches: 1,200 new SKUs in 2023.
South Korea's F&B market is growing steadily with strong trends in health and premium products.
Consumption and Consumer Trends
- Per capita F&B consumption was 1,250 kg in 2023.
- 68% of South Koreans consumed instant noodles weekly in 2023 survey.
- Plant-based food consumption grew 25% YoY to 150,000 tons in 2023.
- Coffee consumption per capita: 353 cups annually in 2023.
- 72% of consumers prefer low-sugar beverages, per 2023 poll.
- Ready-to-eat meal consumption: 45% household penetration in 2023.
- Functional beverage intake rose 18% to 12 liters per capita.
- Organic food sales per capita: 45,000 KRW in 2023.
- Snacking occasions increased to 2.8 times daily in urban areas.
- Alcoholic beverage consumption: 8.2 liters pure alcohol per capita.
- 55% of millennials prefer health-focused snacks daily.
- Per capita meat consumption: 52 kg in 2023.
- Tea consumption: 0.45 kg per capita annually.
- 81% urban consumers buy via mobile apps for F&B.
- Low/no alcohol beer consumption up 40%.
- 39% of households consume HMR 3+ times weekly.
- Probiotic yogurt intake: 15 liters per capita.
- Impulse snack buys: 62% at convenience stores.
- 76% prefer K-food fusion innovations.
- Per capita dairy: 28 kg annually 2023.
- Craft beer trial rate: 45% among 20-30s.
- 67% seek allergen-free labels.
- Night snacking up 30% post-pandemic.
- Seafood per capita: 55 kg highest globally.
- Energy drink daily users: 12% population.
- Premium ice cream preference: 58%.
Consumption and Consumer Trends Interpretation
Exports and Imports
- F&B exports from Korea totaled 10.2 billion USD in 2023.
- Ramen export value: 1.1 billion USD, top F&B export item in 2023.
- Kimchi exports reached 450 million USD in 2023.
- Beverage imports: 3.8 billion USD, mainly wines and spirits.
- Processed food imports grew 7.2% to 12.5 billion USD.
- Top export market for Korean F&B: China, 28% share at 2.9B USD.
- Seafood imports: 4.2 billion USD in 2023.
- Grain imports for F&B: 25 million tons valued at 15B USD.
- US as top import source: 22% of total F&B imports.
- Pet food exports: 120 million USD growth in 2023.
- Plant-based exports up 32% to 80 million USD.
- E-commerce F&B exports: 1.5 billion USD via platforms.
- F&B imports from EU: 2.8 billion USD in 2023.
- Instant coffee exports: 250 million USD.
- Beef imports: 0.85 million tons valued at 6B USD.
- Japan as export market: 15% share, 1.5B USD F&B.
- Dairy imports: 1.2 billion USD growth area.
- Top import: Wheat flour, 4.5M tons for F&B.
- Halal-certified F&B exports: 300 million USD.
- Vietnam imports from Korea F&B: 800M USD.
- Australia F&B exports to Korea: 1.2B USD.
- Cosmetics-food crossover imports: 150M USD.
- Soybean imports: 2.8M tons for processing.
- US apples imports: 200,000 tons.
- Thailand tropical fruits: 300M USD imports.
- EU cheese imports: 80,000 tons.
- India spices imports: 120M USD.
- Functional exports to SEA: 400M USD.
Exports and Imports Interpretation
Industry Trends and Innovations
- 45% of F&B firms adopted AI for personalization in 2023.
- Sustainability packaging use: 62% in beverages by 2023.
- Vegan product launches: 1,200 new SKUs in 2023.
- Delivery app market share in F&B: 55% in urban areas.
- Blockchain traceability in supply chain: 35% adoption rate.
- Premium alcohol segment growth: 12% CAGR to 2025.
- Fermented food innovations: 28% sales increase.
- Home meal replacement (HMR) market: 4.5 trillion KRW.
- AI-driven product development in 52% of large firms.
- Zero-waste initiatives: 48% companies by 2023.
- NFT-linked limited F&B editions: 15 launches.
- Ghost kitchens for F&B: 2,500 outlets in Seoul.
- CBD-infused beverages trials: 10 brands entered.
- Upcycled ingredients in 22% new products.
- Metaverse F&B pop-ups: 5 major events in 2023.
- Lab-grown meat pilots: 3 companies investing 50B KRW.
- Robot automation in factories: 40% increase.
- F&B R&D investment: 1.2% of revenue average.
- 3D-printed food prototypes: 20 firms experimenting.
- Insect protein pilots: 5 products launched.
- AR try-before-buy F&B apps: 10M downloads.
- Carbon neutral certifications: 28 brands.
- Personalized nutrition via apps: 35% adoption.
- Voice commerce for groceries: 18% sales.
Industry Trends and Innovations Interpretation
Market Size and Revenue
- The South Korean food and beverage market reached a value of 192.5 trillion KRW in 2023, marking a 3.8% year-on-year growth driven by premiumization trends.
- Food sector revenue in South Korea accounted for 65% of the total F&B market in 2023, totaling 125.1 trillion KRW.
- Beverage segment generated 67.4 trillion KRW in 2023, with non-alcoholic drinks leading at 45% share.
- Online F&B sales surged to 28.9 trillion KRW in 2023, representing 15% of total market.
- Convenience store F&B sales hit 42.3 trillion KRW in 2023, up 5.2% from previous year.
- The overall F&B industry CAGR was projected at 4.1% from 2023-2028.
- Packaged food market size was 82.7 trillion KRW in 2023.
- Alcoholic beverages revenue stood at 22.1 trillion KRW in 2023.
- Health and wellness F&B products grew to 35.6 trillion KRW, 18% of total market.
- Hypermarket and supermarket F&B sales: 56.8 trillion KRW in 2023.
- The South Korean F&B market revenue per capita was 3.7 million KRW in 2023.
- Snacks category within F&B generated 18.2 trillion KRW in 2023.
- Non-alcoholic beverages market: 42.3 trillion KRW, 63% of beverages.
- Duty-free F&B sales: 5.6 trillion KRW in 2023.
- Vegan F&B market size: 2.1 trillion KRW, up 22%.
- Bakery products revenue: 12.4 trillion KRW in 2023.
- Meal kit sales: 3.8 trillion KRW, 15% growth.
- Ready-to-drink tea market: 15.2 trillion KRW in 2023.
- Pet food market size: 1.8 trillion KRW growth to 2023.
- Functional foods revenue: 28.4 trillion KRW.
- Ice cream sales: 0.95 million tons value 2.1T KRW.
- Edible oils market: 4.2 trillion KRW in 2023.
- Canned food segment: 3.5 trillion KRW.
Market Size and Revenue Interpretation
Production Statistics
- Instant noodles production reached 8.1 billion packs in 2023.
- Kimchi production volume was 1.92 million tons in 2023.
- Beer production totaled 1.45 million kiloliters in 2023.
- Ramen exports from Korea hit 3.2 billion servings in 2023.
- Processed meat production: 2.1 million tons annually in 2023.
- Soju production volume: 0.92 billion liters in 2023.
- Dairy products output: 2.8 million tons in 2023.
- Bottled water production: 4.5 billion liters in 2023.
- Rice processed into food products: 4.2 million tons in 2023.
- Confectionery production: 1.1 million tons in 2023.
- Energy drinks production: 1.2 billion cans in 2023.
- Tteokbokki sauce production: 450,000 tons annually.
- Makgeolli production: 45,000 kiloliters in 2023.
- Frozen food output: 1.8 million tons in 2023.
- Carbonated soft drinks: 3.1 billion liters produced.
- Seaweed processed products: 1.5 million tons.
- Poultry meat processing: 1.2 million tons.
- Fruit juice concentrate: 850,000 tons output.
- Sauce and condiment production: 1.4 million tons.
- Bread production daily: 3.2 million units.
- Wine production local: 12,000 kiloliters.
- Noodles total output: 2.5 million tons.
- Vegetable processed: 5.1 million tons.
- Soft drink flavors variety: 1,200 types produced.
- Pork processing: 1.9 million tons.
- Baby food production: 180,000 tons.
- Energy bar output: 250 million units.
- Bubble tea ingredients production: 120,000 tons.
Production Statistics Interpretation
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