Korea: Dairy and Products Annual 2013
In 2012, retail sales of cheese reached a recorded to $404.7 million, which was an 11 percent increase from 2011. The United States was the largest dairy exporting country with 31 percent market share, followed by New Zealand with 18 percent, the EU with 14 percent and Australia with 10 percent. In milk, consumers tend to purchase premium products like organic milk for their children more than they do for themselves. With concerns over foot-and-mouth disease, local consumers tended to purchase premium drinking milk products for their babies and children. Adult milk continues to contribute bigger sales with 87% value share posted in 2012 as the majority of milk is for general consumption. Whey protein demands are supported by body builder, extreme athletes, everyday active consumers and weight watchers. Whey/dairy proteins are considered as a key ingredient for satiety-promoting products. In 2012, current value sales of fluid, spoonable yoghurt and sour milk product increased by 9% to reach $2.3 Billion. There should be more opportunities for imported products due to price competitiveness between local produced and imported NFDM. Free Trade Agreements are expected to expand market share for cheese and non fat dry milk for the US and EU.
