South Korea Dairy Alternatives Market Trends, Share, Demand, Competition and Future Outlook
South Korea Dairy Alternatives Market Growth, Size, Trends Analysis- By Category, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Nov-2024 | Report ID: FOOD24127 | Pages: 1 - 107 | Formats*: |
| Category : Food & Beverages | |||
South Korea Dairy Alternatives Market Introduction and Overview
According to SPER Market Research, the South Korea Dairy Alternatives Market is estimated to reach USD 1.38 billion by 2033 with a CAGR of 7.27%.
The report includes an in-depth analysis of the South Korea Dairy Alternatives Market, including market size and trends, product mix, applications, and supplier analysis. Dairy alternatives are goods made from plant-based or non-dairy sources that are intended to replace conventional dairy products including milk, cheese, yogurt, and butter. The need for dairy substitutes has expanded dramatically as people have become more conscious of dietary restrictions, lactose intolerance, and the moral issues surrounding animal welfare. Nuts, seeds, legumes, and grains are just a few of the plant sources that can be used to make these alternatives. They offer a range of flavors and textures to suit different dietary requirements and preferences. Almond milk, coconut yogurt, and oat-based drinks are typical examples. Processing methods that mimic or extract the qualities of dairy are used in the creation of dairy substitutes. To make nut milks, for example, nuts are blended with water and then strained to produce a creamy consistency.
- August 2022: California Farms expands its selection of almond milk barista blends with the release of the new Oat Barista Blend.
- April 2022: California Farms releases unsweetened oat milk that may be consumed at home and is sold at a number of stores.
- December 2021: The establishment of a "Sahmyook Food Research Consultation Centre" for improved R&D skills is the subject of an MOU between Sahmyook Foods and Sahmyook University.
Market Opportunities and Challenges
Opportunities- The market for dairy substitutes in South Korea has grown significantly in recent years due to a combination of reasons that represent changing customer preferences, environmental concerns, and health consciousness. The rising prevalence of lactose intolerance in South Korean society is one of the main causes. Since a significant percentage of East Asians, including Koreans, are lactose intolerant, many of them look for dairy substitutes to prevent discomfort. The demand for lactose-free products, especially plant-based alternatives that offer comparable nutritional advantages, has increased as a result of this demographic shift. In South Korea, trends related to health and wellness have a significant influence on consumer behaviour. Consumers are incorporating more dairy substitutes into their daily routines as a result of increased awareness of the health advantages of plant-based diets.
Challenges- Despite its remarkable rise, the South Korean dairy alternatives market is confronted with a number of obstacles that may affect its long-term viability and growth. The perception of taste and texture in comparison to conventional dairy products is one of the main obstacles. Due to their ingrained love of dairy's flavour and mouthfeel, many South Korean consumers may be reluctant to move to plant-based substitutes. Overcoming these deeply rooted preferences is still a major challenge, despite manufacturers spending more money on research and development to enhance the taste qualities of dairy substitutes. The suitability of dairy substitutes in terms of nutrition presents another difficulty. Although a lot of customers think these goods are healthier, market acceptability may be hampered by worries about their nutritional characteristics.
Market Competitive Landscape
The South Korea Dairy Alternatives Market is a highly competitive arena due to the presence of multiple global and regional companies in the competitive environment. Leading companies in the industry are Armored Fresh, Califia Farms LLC, Sahmyook Food, Dr Chung’s Food Co Ltd, Blue Diamond Growers, Otsuka Holdings Co Ltd, Hanmi Healthcare Inc, Maeil Co Ltd, Yoplait.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Category, By Distribution Channel |
| Regions covered | Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region) |
| Companies Covered | Armored Fresh, Califia Farms LLC, Sahmyook Food, Dr Chung’s Food Co Ltd, Blue Diamond Growers, Otsuka Holdings Co Ltd, Hanmi Healthcare Inc, Maien Co Ltd, Yoplait. |
COVID-19 Impact on South Korea Dairy Alternatives Market
The market for alternative dairy products in South Korea has been significantly impacted by the COVID-19 pandemic, which has changed supply chains, consumer behavior, and market dynamics. At first, as people looked for healthier food options to support their immune systems and general well-being, the pandemic increased demand for dairy substitutes. A lot of people switched to plant-based diets during lockdowns because they believed they were more sustainable and healthier. Dairy substitutes like plant-based milk and yogurt saw a sharp increase in sales during this time. Customers' purchasing patterns also changed as a result of the pandemic. Customers started experimenting with novel products, such as dairy substitutes, as a result of constraints on eating out and an emphasis on cooking at home.
Key Target Audience:
- Health-Conscious Consumers
- Lactose-Intolerant Individuals
- Vegans and Vegetarians
- Environmentally Conscious Consumers
- Young Adults and Millennials
- Fitness Enthusiasts
- Allergy Sensitive Enthusiasts
- Senior Citizens
- Food Enthusiasts and Experimenters
Our in-depth analysis of the South Korea Dairy Alternatives Market includes the following segments:
| By Category: | |
| By Distribution Channel: |
Key Topics Covered in the Report:
- South Korea Dairy Alternatives Market Size (FY’2024-FY’2033)
- Overview of South Korea Dairy Alternatives Market
- Segmentation of South Korea Dairy Alternatives Market by Category (Non-Dairy Butter, Non-Dairy Milk, Non-Dairy Yoghurt, Non-Dairy Cheese, Non-Dairy Creamers)
- Segmentation of South Korea Dairy Alternatives Market by Distribution Channels (Supermarkets, Hypermarkets, Convenience Stores, Grocery Stores, Restaurants, Cafes, Food Service Establishments)
- Statistical Snap of South Korea Dairy Alternatives Market
- Expansion Analysis of South Korea Dairy Alternatives Market
- Problems and Obstacles in South Korea Dairy Alternatives Market
- Competitive Landscape South Korea Dairy Alternatives Market
- Impact of COVID-19 and Demonetization South Korea Dairy Alternatives Market
- Details on Current Investment in South Korea Dairy Alternatives Market
- Competitive Analysis South Korea Dairy Alternatives Market
- Prominent Players in the South Korea Dairy Alternatives Market
- SWOT Analysis South Korea Dairy Alternatives Market
- South Korea Dairy Alternatives Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the South Korea Dairy Alternatives Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. South Korea Dairy Alternatives Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in South Korea Dairy Alternatives Market
7. South Korea Dairy Alternatives Market, By Category (USD Million) 2020-2033
7.1. South Korea Dairy Alternatives Market Size, Share and Forecast, By Category, 2020-20267.2. South Korea Dairy Alternatives Market Size, Share and Forecast, By Category, 2027-20337.3. Non-Dairy Butter7.4. Non-Dairy Milk7.5. Non-Dairy Yoghurt7.6. Non-Dairy Cheese7.7. Non-Dairy Creamers
8. South Korea Dairy Alternatives Market, By Distribution Channel (USD Million) 2020-2033
8.1. South Korea Dairy Alternatives Market Size, Share and Forecast, By Distribution Channel, 2020-20268.2. South Korea Dairy Alternatives Market Size, Share and Forecast, By Distribution Channel, 2027-20338.3. Supermarkets8.4. Hypermarkets8.5. Convenience Stores8.6. Grocery Stores8.7. Restaurants8.8. Cafes8.9. Food Service Establishments
9. South Korea Dairy Alternatives Market Forecast, 2020-2033 (USD Million)
9.1. South Korea Dairy Alternatives Market Forecast Size and Market Share
10. South Korea Dairy Alternatives Market Forecast, By Region, 2020-2033 (USD Million)
10.1. South Korea Dairy Alternatives Market Forecast Size and Market Share By Region (2020-2026)10.2. South Korea Dairy Alternatives Market Forecast Size and Market Share By Region (2027-2033)10.3. South Korea10.3.1. Seoul Capital Area10.3.2. Yeongnam (Southeastern Region)10.3.3. Honam (Southwestern Region)10.3.4. Hoseo (Central Region)
11. Company Profile
11.1. ARMORED FRESH11.1.1. Company details11.1.2. Financial outlook11.1.3. Product summary11.1.4. Recent developments11.2. CALIFIA FARMS LLC11.2.1. Company details11.2.2. Financial outlook11.2.3. Product summary11.2.4. Recent developments11.3. SAHMYOOK FOOD11.3.1. Company details11.3.2. Financial outlook11.3.3. Product summary11.3.4. Recent developments11.4. DR CHUNG’S FOOD CO LTD11.4.1. Company details11.4.2. Financial outlook11.4.3. Product summary11.4.4. Recent developments11.5. BLUE DIAMOND GROWERS11.5.1. Company details11.5.2. Financial outlook11.5.3. Product summary11.5.4. Recent developments11.6. OTSUKA HOLDINGS CO LTD11.6.1. Company details11.6.2. Financial outlook11.6.3. Product summary11.6.4. Recent developments11.7. HANMI HEALTHCARE INC11.7.1. Company details11.7.2. Financial outlook11.7.3. Product summary11.7.4. Recent developments11.8. MAEIL CO LTD11.8.1. Company details11.8.2. Financial outlook11.8.3. Product summary11.8.4. Recent developments11.9. YOPLAIT11.9.1. Company details11.9.2. Financial outlook11.9.3. Product summary11.9.4. Recent developments11.10. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
South Korea Dairy Alternatives Market is projected to reach USD 1.38 billion by 2033, growing at a CAGR of 7.27% during the forecast period.
South Korea Dairy Alternatives Market grew in Market size from 2024. The Market is expected to reach USD 1.38 billion by 2033, at a CAGR of 7.27% during the forecast period.
South Korea Dairy Alternatives Market CAGR of 7.27% during the forecast period.
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South Korea Dairy Alternatives Market size is USD 1.38 billion from 2024 to 2033.
South Korea Dairy Alternatives Market is covered By Category, By Distribution Channel
The Asia Pacific is anticipated to have the highest Market share in the South Korea Dairy Alternatives Market.
The Key players in the Market include Companies Covered Armored Fresh, Califia Farms LLC, Sahmyook Food, Dr Chung’s Food Co Ltd, Blue Diamond Growers, Otsuka Holdings Co Ltd, Hanmi Healthcare Inc, Maien Co Ltd and Yoplait.
The high cost of advanced diabetes drugs and the financial burden of treating diabetes remain major obstacles to market growth, despite the fact that numerous drugs have been approved for the condition and that governments and industry players are launching numerous initiatives.
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