Milk market size South Korea 2015-2025

In 2020, the market size of the South Korean milk market reached about 3.12 trillion South Korean won. It was expected to grow even further, reaching a value of approximately 3.64 trillion South Korean won in 2025. The leading retail sales channel for milk was hypermarkets, although online shopping inched closer as during the COVID-19 pandemic more people turned to online grocery shopping.

 Market leaders

One of the leading companies in the South Korean milk market was Seoul Milk, dominating the market with its two milk brands “Seoul Milk Na 100%” and “Seoul Milk”. Seoul Milk, also called Seoul Dairy Cooperative, is the oldest dairy products supplier in South Korea. The company has managed to remain a key player in the market since its initial establishment in 1937 and saw an increase in sales revenue in recent years.

Future developments

Although the monthly household spending on milk products and eggs had increased in South Korea, and the milk market grew accordingly, the market for milk alternatives had quintupled in size during the same time and was forecast to grow even further until 2025. South Koreans are not only becoming more health-conscious, but also more aware of animal welfare issues, and correspondingly more consumers have tried plant-based alternatives.