The yogurt powder market in Korea is projected to experience substantial growth over the next decade, with an anticipated compound annual growth rate (CAGR) of 8.0% from 2023 to 2033. The market, valued at US$ 12.5 million in 2023, is forecasted to reach a valuation of US$ 24.3 million by the end of the forecast period.
As health and wellness trends continue to evolve in Korea, consumers are increasingly seeking convenient, functional food products that support both their nutritional needs and lifestyle preferences. Yogurt powder is positioned as a key player in this space, offering versatility and a range of health benefits.
Key Trends Driving Market Expansion:
- Integration of Technology in Health and Wellness The global trend towards incorporating technology in personal health monitoring is making its mark in Korea’s yogurt powder market. Products that integrate with wearable health devices or sync with wellness apps are gaining consumer interest, allowing individuals to better track their nutrition and wellness goals.
- Sustainability and Eco-Friendly Packaging Consumers are becoming more environmentally conscious, and there is a growing demand for yogurt powder products that highlight eco-friendly packaging and ethical sourcing. As sustainability becomes a key factor in purchasing decisions, yogurt powder brands that adopt minimal environmental impact strategies are likely to see increased sales.
- Beauty from Within Korea’s beauty and skincare market is globally renowned, and the concept of ‘beauty from within’ is gaining traction. Yogurt powder products enriched with nutrients that promote skin health and combat aging are increasingly appealing to consumers looking to enhance their beauty regime through dietary means. This trend represents a significant growth opportunity for yogurt powder in Korea.
- On-the-Go Convenience Busy lifestyles continue to drive demand for convenient, on-the-go snack options. Yogurt powder, known for its versatility, is being used to create easy-to-carry snack items that fit into the fast-paced routines of modern consumers. Whether for quick snacks or meal replacements, yogurt powder’s convenience is a key factor in its rising popularity.
- Growing Popularity of Plant-Based Alternatives The shift towards plant-based diets is influencing purchasing decisions in Korea. With more consumers opting for plant-based or dairy-free options, the market for plant-based yogurt powder is expected to grow. This trend aligns with the broader move towards sustainable food choices and dairy alternatives, providing brands with the opportunity to develop innovative plant-based yogurt powder products.
Future Market Outlook
As Korea’s yogurt powder market continues to expand, driven by evolving consumer preferences, sustainability concerns, and the pursuit of health and beauty, the sector is set for sustained growth over the coming decade. The rising demand for functional and plant-based products, along with innovations in product formulations and packaging, positions yogurt powder as a key ingredient in Korea’s food and wellness landscape.
With an expected US$ 24.3 million market size by 2033, yogurt powder brands that adapt to emerging trends and consumer demands will be well-positioned to capitalize on the significant growth potential in this industry.
Competitive Landscape
The yogurt powder industry in Korea is driven by a thriving and competitive environment that includes established domestic firms and multinational brands striving for dominance. The industry dynamics are shaped by changing customer tastes, health and wellness trends, and the continuous appeal of dairy-based products in Korean cuisine. Local businesses use their extensive knowledge of the Korean consumer base and cultural subtleties to deliberately position their yogurt powder options in line with traditional flavor profiles and nutritional requirements. Concurrently, multinational players offer knowledge of product innovation and marketing tactics to acquire a varied consumer base.
Strategies for Key Players to Tap into Potential Growth Opportunities
- Increase product offerings to include yogurt powder varieties catering to various customer categories and preferences.
- In marketing, emphasize the health advantages of yogurt powder, leveraging on the growing demand for functional and wellness-oriented goods.
- To appeal to environmentally sensitive consumers, prioritize ingredient sources and sustainable packaging transparency.
- Enhance your online presence using e-commerce platforms and digital marketing methods to engage direct consumers.
Recent Developments
- In September 2023, SIG and AnaBio Technologies announce the first global introduction of a long-life probiotic yogurt – a significant advance for probiotic drinks and aseptic packaging. This game-changing innovation introduces a new product category: probiotic drinks packaged in aseptic carton packs and spouted pouches that are shelf-stable for extended periods of time without refrigeration.
- In February 2022, Starbucks introduced a vegan yogurt drink in Korea. Starbucks’ ‘Pine Coco Green Yogurt Blended’ beverage is the first of its kind anywhere in the world.
Browse full Report: https://www.futuremarketinsights.com/reports/demand-and-trend-analysis-of-yogurt-powder-in-korea
Some of the Key Players in Yogurt Powder in Korea
- Binggrae Co., Ltd.
- Namyang Dairy Products Co., Ltd.
- Maeil Dairies Co., Ltd.
- Seoul Dairy Cooperative
- Lotte Confectionery Co., Ltd.
- Ottogi Corporation
- Yonsei Milk
- Pulmuone Co., Ltd.
- Dongwon F&B Co., Ltd.
- Haitai Confectionery & Foods Co., Ltd.
Key Segments
By Product Type:
- Skimmed Yogurt Powder
- Semi-Skimmed Yogurt Powder
- Whole Yogurt Powder
By Nature:
- Organic
- Conventional
By Flavor:
- Regular
- Flavored
- Berries
- Vanilla
- Chocolate
- Peach
- Mango
- Banana
- Apple
- Others (Passion Fruit, Blends)
By Application:
- Food Industry
- Dips and Dressings
- Fillings
- Bakery
- Nutrition and Snack Bar
- Desserts
- Frozen Novelties
- Dry Mixes
- Others (Meat Products, Cereals)
- Beverages
- Cosmetics and Personal Care
By End Use:
- Household
- HoReCa
- Industrial
- Food and Beverage Processors
- Cosmetic Manufacturers
By Distribution Channel:
- B2B
- B2C
- Store-Based Retail
- Modern Grocery Retailers
- Hypermarkets/Supermarkets
- Convenience Stores
- Food & Drink Specialty Stores
- Independent Small Groceries
- Online Retail
By City/Province:
- South Gyeongsang
- North Jeolla
- South Jeolla
- Jeju
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