Yogurt - South Korea | Statista Market Forecast

Revenue in the Yogurt market amounts to US$2.59bn in 2024. The market is expected to grow annually by 5.46% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$46bn in 2024).
In relation to total population figures, per person revenues of US$50.07 are generated in 2024.
In the Yogurt market, volume is expected to amount to 389.10m kg by 2029. The Yogurt market is expected to show a volume growth of 3.4% in 2025.0.
The average volume per person in the Yogurt market is expected to amount to 6.4kg in 2024.

Definition:

The Yogurt market covers products that are created by allowing bacteria to convert lactose found in milk into lactic acid resulting in a thickened, sour-tasting dairy product.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

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Natural/plain yogurt
Flavored yogurt (e.g. Vanilla yogurt, fruit-flavored yogurt)
Greek yogurt
Whole milk yogurt, low-fat yogurt, non-fat yogurt
Probiotic yogurt, lactose-free yogurt

Milk
Cream cheese
Cheese
Curdled milk
Butter milk
Yogurt drinks
Out-of-home consumption

The Yogurt Market in South Korea is experiencing minimal growth due to factors such as low consumer health awareness and lack of convenience in online services. However, the market is expected to slowly grow with increasing adoption of digital technologies.

Customer preferences: As consumers in South Korea become more health-conscious, there is a growing demand for low-fat and probiotic-rich yogurt products in the Dairy Products & Eggs Market within The Food market. This trend is influenced by the country's strong emphasis on traditional Korean medicine and its belief in the benefits of fermented foods. Additionally, the rise of convenience culture and busy lifestyles has led to an increased preference for single-serving and on-the-go yogurt options.

Trends in the market: In South Korea, the Yogurt market is experiencing a surge in demand for probiotic and functional yogurt products, driven by a growing health-conscious consumer base. Additionally, there is a rising trend of incorporating traditional Korean ingredients into yogurt, such as kimchi or red ginseng, to cater to local tastes. This trajectory is significant as it reflects a shift towards healthier and more diverse yogurt options, which has implications for industry stakeholders to adapt and innovate in order to stay competitive in the market.

Local special circumstances: In South Korea, the Yogurt Market of the Dairy Products & Eggs Market within The Food market is heavily influenced by the country's strong cultural preference for fermented foods. This has led to a high demand for traditional Korean yogurt, known as "yakult," which is made from fermented barley and rice. Additionally, South Korea's strict regulations on food labeling and safety have contributed to the market's growth, as consumers trust in the quality and safety of domestically produced yogurt. Furthermore, the country's dense urban population and busy lifestyle have also fueled the demand for convenient, on-the-go yogurt products.

Underlying macroeconomic factors: The Yogurt Market of the Dairy Products & Eggs Market within The Food market in South Korea is heavily impacted by macroeconomic factors such as consumer spending power, government policies, and international trade agreements. The country's stable economic growth and rising disposable income have led to an increase in demand for premium and healthy dairy products, including yogurt. Additionally, the Korean government's focus on promoting a healthy lifestyle and supporting the local food industry has resulted in favorable policies and subsidies for dairy companies. Furthermore, the country's participation in free trade agreements has opened up export opportunities for Korean yogurt manufacturers, contributing to the market's growth.

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.