South Korea Cheese Market Size, Share, and COVID-19 Impact Analysis, By Type (Mozzarella, Feta, Cheddar), By Source (Plant, Animal), By Nature (Hard Cheese, Soft Cheese, Processed Cheese), By Distribution Channel (B2B, Specialty Store), and South Korea Cheese Market Insights Forecasts 2023 – 2033

Industry: Food & Beverages

RELEASE DATE Jan 2024
REPORT ID SI3496
PAGES 200
REPORT FORMAT PathSoft

South Korea Cheese Market Insights Forecasts to 2033

  • The South Korea Cheese Market Size was valued at USD 0.70 Billion in 2023.
  • The Market Size is Growing at a CAGR of 5.88% from 2023 to 2033.
  • The South Korea Cheese Market Size is Expected to Reach USD 1.24 Billion by 2033.

South Korea Cheese Market

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The South Korea Cheese Market size is expected to reach USD 1.24 Billion by 2033, at a CAGR of 5.88% during the forecast period 2023 to 2033.   

 

Market Overview

Cheese is a dairy product derived from the coagulation of the milk protein casein. It has a wide range of flavors, textures, and forms. It contains proteins and lipids derived from milk (usually cow, buffalo, goat, or sheep milk). To make the casein coagulate, milk is frequently acidified during manufacturing, and either rennet enzymes or bacterial enzymes with comparable activity are introduced. The liquid whey is then separated from the firm curds, which are pressed to yield finished cheese. Some cheeses have flavorful molds throughout, on the rind, or in the outer layer. Furthermore, cheese is a popular snack in South Korea, especially among children, since parents consider it a good source of protein and calcium. Food processors are introducing cheese snack products aimed at health-conscious parents, such as cheese with added vegetables and additive- and sugar-free cheese. The products are available in a variety of shapes, including string cheese and cheese cubes, as well as small, portable containers. Cheese was once thought to be just a snack for kids. Adults are increasingly consuming cheese as a healthy snack, a snack to pair with alcoholic beverages, and a salad topping.  

 

Report Coverage

This research report categorizes the market for the South Korea cheese market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea cheese market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea cheese market.                 

 

South Korea Cheese Market Report Coverage

Report CoverageDetails
Base Year:2023
Market Size in 2023:USD 0.70 Billion
Forecast Period:2023-2033
Forecast Period 2023-2033 CAGR:5.88%
2033 Value Projection:USD 1.24 Billion
Historical Data for:2019-2022
No. of Pages:200
Tables, Charts & Figures:115
Segments covered:By Type, By Source, By Nature, By Distribution Channel
Companies Covered:Schneider Co., Ltd., Spc Gfs Co., Ltd., Paris Croissant Co., Ltd., Pulmuone Foods Co., Ltd., Taeyang Industrial Co., Ltd., Dong Sun Synthetic Fiber Co., Ltd., Ells Bridge Co., Ltd., Joo Sung Sea & Air Co., Ltd., Lx Pantos Logistics Co., Ltd., Hee Chang Trading Co., Ltd., and other key companies.
Pitfalls & Challenges:Covid-19 Empact,Challenges,Growth, Analysis.

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Driving Factors

Cheese sales are expected to increase as consumer purchasing power rises in industrialized economies. Furthermore, changing dietary habits and an increasing number of working women are expected to boost the cheese market's potential for expansion. In addition, the rising consumption of pizza and other European-style fast foods appears to be one of the key trends driving cheese sales growth, particularly among young people. The South Korean cheese industry is driven by a growing demand for diverse product flavors in local cuisines.

 

Restraining Factors

Excessive cheese consumption can have negative consequences for human health, such as elevated cholesterol levels and cardiac arrests. Growing consumer awareness of the negative consequences of increased cheese consumption in recent years will probably hamper revenue growth opportunities in the South Korean market.

 

Market Segment

  • In 2023, the cheddar segment accounted for the largest revenue share over the forecast period.

Based on type, the South Korea cheese market is segmented into mozzarella, feta, and cheddar. Among these, the cheddar segment has the largest revenue share over the forecast period. Cheddar is one of the many varieties of cheese, which is off-white and has a sharp taste with a relatively hard texture than any other variety, this type of cheese is made using a process known as cheddaring, which separates curd and whey using rennet enzymes. Many multinational dairy cooperatives and companies are now adding different flavors to cheddar, such as paprika, herbs, and oregano. Cheddar cheese is used in a wide range of industries, including baking (melted, grated, and shredded), soups, sauces, and dips, ready meals, snacks and cereals, and other food applications.

 

  • In 2023, the animal segment is witnessing significant growth over the forecast period.

Based on the source, the South Korea cheese market is segmented into plant and animal. Among these, the animal segment is witnessing significant growth over the forecast period. Since it is widely available, animal cheese will continue to dominate the market. Camel, goat, sheep, and cattle are the next categories of animal sources. The high availability of animal-based cheese compared to other sources could be driving the segment's growth. One of the main drivers of market expansion is the growing acceptance of the organoleptic qualities of animal-derived products. Animals can produce more milk than plant-based ingredients, which is driving the growth of the animal-based food market. Demand for plant-based cheese is expected to rise due to the growing popularity of vegan food consumption. Plant-based foods are becoming more popular due to their health benefits and safety, which are fueling market growth.

 

  • In 2023, the processed cheese segment accounted for a significant revenue share over the forecast period.

Based on the nature, the South Korea cheese market is segmented into hard cheese, soft cheese, and processed cheese. Among these, the processed cheese segment has the significant revenue share over the forecast period. Processed cheese is expected to account for an important portion of the South Korea market based on product type. Sales prospects are most likely driven by the appealing flavor profile of this type of cheese and the product's longer shelf life. Furthermore, when compared to other options, processed cheese is significantly less expensive and more versatile. Processed cheese is commonly used in fast food products, but it is also used in regional cuisines because of its distinctive flavor profile.

 

  • In 2023, the specialty store segment accounted for the largest revenue share over the forecast period.

Based on the distribution channel, the South Korea cheese market is segmented into B2B and specialty stores. Among these, the specialty store segment has the largest revenue share over the forecast period. Consumers are increasingly drawn to specialty stores that sell local, imported, artisanal, and specialty cheeses. Some of these stores are developing hybrid spaces that provide cheese and limited food items such as sandwiches and wine, improving the consumer's purchase experience.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea Cheese market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • Schneider Co., Ltd.
  • Spc Gfs Co., Ltd.
  • Paris Croissant Co., Ltd.
  • Pulmuone Foods Co., Ltd.
  • Taeyang Industrial Co., Ltd.
  • Dong Sun Synthetic Fiber Co., Ltd.
  • Ells Bridge Co., Ltd.
  • Joo Sung Sea & Air Co., Ltd.
  • Lx Pantos Logistics Co., Ltd.
  • Hee Chang Trading Co., Ltd. 
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting and Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the South Korea Cheese Market based on the below-mentioned segments:     

 

South Korea Cheese Market, By Type

  • Mozzarella
  • Feta
  • Cheddar

 

South Korea Cheese Market, By Source

  • Plant
  • Animal

 

South Korea Cheese Market, By Nature

  • Hard Cheese
  • Soft Cheese
  • Processed Cheese

 

South Korea Cheese Market, By Distributions Channel

  • B2B
  • Specialty Store

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