Market Insights Consumer Food Dairy Products & Eggs

Cheese - South Korea

South Korea

Revenue in the Cheese market amounts to €0.69bn in 2024. The market is expected to grow annually by 6.60% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€29,690m in 2024).
In relation to total population figures, per person revenues of €13.27 are generated in 2024.
In the Cheese market, volume is expected to amount to 143.20m kg by 2029. The Cheese market is expected to show a volume growth of 4.1% in 2025.
The average volume per person in the Cheese market is expected to amount to 2.4kg in 2024.

Key regions: China, South Korea, Russia, United Kingdom, India

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Analyst Opinion

The Cheese market in South Korea's Dairy Products & Eggs Market, within The Food market, is experiencing minimal growth due to factors such as limited consumer awareness and high competition. However, with the increasing demand for healthy and convenient food options, the market is expected to see moderate growth in the coming years.

Customer preferences: Consumers in South Korea are increasingly seeking healthier and more convenient food options, leading to a rise in demand for cheese as a protein-rich and versatile ingredient. This trend is driven by a growing health consciousness and a desire for more diverse and international flavors. Additionally, with more individuals leading busy lifestyles, there is a growing preference for ready-to-eat cheese products such as cheese sticks and cheese dips. This shift towards convenient and healthier food choices is also reflected in the increasing popularity of online grocery shopping and delivery services.

Trends in the market: In South Korea, the Cheese Market within the Dairy Products & Eggs Market has seen a surge in demand for organic and natural cheese products. This trend is driven by a growing awareness of health and wellness, as well as a desire for clean and sustainable food options. As a result, cheese producers are investing in new product development and marketing strategies to cater to this demand. Furthermore, the rise of e-commerce and online grocery shopping has also contributed to the growth of the cheese market, offering convenience and accessibility to consumers. This trend is expected to continue in the coming years, with potential implications for industry stakeholders such as increased competition and the need for innovative and sustainable production methods.

Local special circumstances: In South Korea, the Cheese Market of the Dairy Products & Eggs Market within The Food market is influenced by the country's strong cultural preference for fermented foods. This has led to a high demand for traditional fermented cheese varieties, such as kimchi cheese and doenjang cheese. Additionally, strict regulations on imported dairy products have created a barrier for international competitors, allowing local brands to dominate the market. Furthermore, the country's small land area and high population density have led to a limited supply of domestic milk, resulting in higher prices for dairy products.

Underlying macroeconomic factors: The Cheese Market of the Dairy Products & Eggs Market within The Food market in South Korea is heavily influenced by macroeconomic factors such as trade policies, consumer spending patterns, and changing dietary preferences. The country's strong economic growth, stable political environment, and increasing disposable income have led to a growing demand for high-quality cheese products. Additionally, the government's support for the dairy industry and investments in modernizing production processes have also contributed to the market's growth. However, challenges such as fluctuating milk prices, import restrictions, and changing consumer trends pose potential threats to the market's performance.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.