Meat Substitutes - South Korea
- South Korea
- Revenue in the Meat Substitutes Market is projected to reach €58.42m in 2025.
- Revenue is expected to show an annual growth rate (CAGR 2025-2029) of 7.68%, resulting in a projected market volume of €78.53m by 2029.
- With a projected market volume of €2,006.00m in 2025, most revenue is generated in China.
- In the Meat Substitutes Market, the number of users is expected to amount to 3.0m users by 2029.
- User penetration will be 5.3% in 2025 and is expected to hit 6.1% by 2029.
- The average revenue per user (ARPU) is expected to amount to €22.95.
Analyst Opinion
The Meat Substitutes eCommerce Market in South Korea is witnessing moderate growth, influenced by factors like increasing consumer interest in plant-based diets, rising health consciousness, and the convenience of online grocery shopping for alternative protein sources.
Customer preferences: In South Korea, consumers are increasingly gravitating towards meat substitutes, driven by a blend of health consciousness and a growing cultural acceptance of plant-based diets. This shift is particularly pronounced among younger demographics, who prioritize sustainability and ethical eating practices. As busy lifestyles prevail, the convenience of eCommerce platforms is further fueling this trend, allowing consumers to easily access diverse alternative protein options. Additionally, social media influencers play a pivotal role in reshaping perceptions, encouraging a vibrant community around meat alternatives.
Trends in the market: In South Korea, the Meat Substitutes eCommerce Market is experiencing significant growth as consumers increasingly seek plant-based alternatives driven by health, environmental concerns, and ethical considerations. This trend is particularly strong among millennials and Gen Z, who prioritize sustainability and convenience in their purchasing habits. The rise of online grocery shopping has made it easier for consumers to explore diverse meat alternatives. Industry stakeholders must adapt to these changes by investing in innovative products and promoting their offerings through digital platforms to engage the evolving consumer base effectively.
Local special circumstances: In South Korea, the Meat Substitutes eCommerce Market is uniquely influenced by the country's rich culinary traditions, which often emphasize fresh ingredients and communal dining. The growing trend toward health-conscious eating and a rising interest in sustainability are reshaping consumer preferences, particularly among younger demographics who favor innovative flavors and textures. Additionally, government initiatives promoting plant-based diets for health and environmental reasons are further driving market growth, while regulatory support for eCommerce fosters a more accessible shopping environment for meat alternatives.
Underlying macroeconomic factors: The Meat Substitutes eCommerce Market in South Korea is significantly influenced by macroeconomic factors such as the nation's economic stability, consumer purchasing power, and shifts in global food trends. As South Korea's economy recovers from the impacts of the COVID-19 pandemic, increased disposable income enables consumers to explore diverse food options, including meat alternatives. Moreover, rising awareness of environmental issues aligns with global sustainability trends, prompting more individuals to opt for plant-based diets. Additionally, favorable fiscal policies promoting innovation and investment in eCommerce infrastructure enhance accessibility, driving the growth of the meat substitutes segment within the broader food market.
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