Milk Substitutes - South Korea

  • South Korea
  • Revenue in the Milk Substitutes Market is projected to reach €269.70m in 2025.
  • Revenue is expected to show an annual growth rate (CAGR 2025-2029) of 9.31%, resulting in a projected market volume of €385.00m by 2029.
  • With a projected market volume of €6,255.00m in 2025, most revenue is generated in China.
  • In the Milk Substitutes Market, the number of users is expected to amount to 3.5m users by 2029.
  • User penetration will be 6.2% in 2025 and is expected to hit 7.2% by 2029.
  • The average revenue per user (ARPU) is expected to amount to €90.64.
 
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Analyst Opinion

The Milk Substitutes eCommerce Market within the Dairy Products & Eggs Market in South Korea is experiencing moderate growth. This growth is influenced by increasing health consciousness, a rise in veganism, and the convenience of online shopping for diverse milk alternatives.

Customer preferences:
Consumers in South Korea are increasingly gravitating towards milk substitutes due to heightened awareness of health and nutrition, resulting in a growing preference for plant-based options. This trend is particularly pronounced among younger generations who prioritize sustainability and ethical consumption, reflecting a cultural shift towards veganism and flexitarian diets. Additionally, the convenience of eCommerce platforms facilitates access to diverse milk alternatives, catering to busy lifestyles while allowing for easy exploration of innovative products that align with personal health goals.

Trends in the market:
In South Korea, the eCommerce market for milk substitutes is experiencing significant growth, driven by an increasing consumer shift towards plant-based diets. Consumers are opting for alternatives like almond, soy, and oat milk, influenced by health, environmental concerns, and ethical considerations. The rise of online shopping platforms is enhancing accessibility, enabling consumers to explore a wider range of innovative options. This trend signals a crucial opportunity for industry stakeholders to adapt their product offerings and marketing strategies to meet the evolving demands of a more health-conscious and environmentally aware consumer base.

Local special circumstances:
In South Korea, the eCommerce market for milk substitutes is shaped by unique cultural and regulatory factors that distinguish it from other regions. The country's strong emphasis on health and wellness, influenced by traditional dietary practices, encourages consumers to seek alternatives to dairy. Additionally, the South Korean government has implemented regulations promoting sustainable agricultural practices, boosting the demand for eco-friendly products. Urbanization and a tech-savvy population further enhance online shopping experiences, making diverse plant-based options increasingly accessible and appealing to environmentally conscious consumers.

Underlying macroeconomic factors:
The Milk Substitutes eCommerce Market in South Korea is significantly impacted by macroeconomic factors, including shifts in consumer spending, urbanization trends, and increasing health consciousness. The nation’s robust economic performance, characterized by steady GDP growth and a rising middle class, enhances disposable income, thus enabling greater expenditure on premium milk substitutes. Furthermore, fiscal policies that support green initiatives resonate with the populace's preference for sustainable products. Global trends towards plant-based diets are also mirrored locally, stimulating market demand. Additionally, advancements in eCommerce technology facilitate seamless online transactions, making diverse milk alternatives more accessible to health-conscious consumers.

Methodology

Data coverage:

Data refers to B2C enterprises. Figures are based on the sale of physical goods via a digital channel to a private end consumer. This definition encompasses purchases via desktop computers (including notebooks and laptops) as well as purchases via mobile devices (e.g., smartphones and tablets). The following are not included in the eCommerce market: digitally distributed services (see instead: eServices), digital media downloads or streams, digitally distributed goods in B2B markets, and the digital purchase or resale of used, defective, or repaired goods (reCommerce and C2C). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Statista Consumer Insights Global Survey), data on shopping behavior (e.g., Google Trends, Alibaba Trends), and performance factors (e.g., user penetration, price/product). Furthermore, we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, internet penetration, and population. 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 particular market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, internet penetration, and population.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The impact of the Russia/Ukraine war is considered at a country-specific level.

Visión general

  • Revenue
  • Analyst Opinion
  • Sales Channels
  • Users
  • Global Comparison
  • Methodology
  • Key Market Indicators
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