The fat filled milk powder industry in Korea is anticipated to capture a CAGR of 6.1%, with a valuation of USD 64.92 million in 2023, reaching up to USD 117.90 million by 2033. The increasing adoption of fat filled milk powder is driven by rising consumer demand for instant milk, the growing number of infants, and the creation of exotic beverages.
The fat filled milk powder industry in Korea secured a valuation of USD 61.39 million in 2022, with a CAGR of 4% between 2018 and 2022. Shifting dietary habits, changing lifestyles, and increasing disposable income are accelerating the consumption of fat filled milk powder in Korea.
Manufacturers offer a diverse range of fat filled milk powder with unique flavors, packaged sustainably and eco-friendly. Apart from attracting consumers' desires, this packaging also enhances the shelf life of powdered milk when compared to regular milk.
Adoption Analysis of Fat Filled Milk Powder in Korea
In Korea, food manufacturers are developing milk powder for quick uses like tea, coffee, and shakes, drawing consumers' attention to its adoption. The shortage of milk caused by supply chain disruptions is boosting the adoption of fat filled milk powder as a superior substitute for fresh milk. The increasing population, newborns, and individuals with iron deficiency are driving the surge in the adoption of fat filled milk powder for proper intake of iron, calcium and other vitamins.
The booming baked goods industry, chocolate industry, and sweetener demand in Korea are the main drivers of fat filled milk powder demand. The aim to improve food production is the reason for this spike in demand, which generates substantial profits.
To create transparency with customers, manufacturers are making sure to supply high-quality items that have been certified by authorities. Korea, with its abundance in milk production, is adept at creating substitutes and storing them in safe and efficient packaging solutions to maintain their shelf life.
| Attributes | Details |
|---|---|
| Industry Size of Korea in 2023 | USD 64.92 million |
| Expected Industry Size in Korea by 2033 | USD 117.90 million |
| Forecasted CAGR between 2023 to 2033 | 6.1% |
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The growing economy, changing consumer preferences, and increased demand for dairy products are driving the surge in demand for fat filled milk powder in Korea. Manufacturers are meeting this demand by providing cost-effective solutions through fat filled milk powder production, gaining widespread popularity among consumers.
The increased awareness among consumers about the importance of a healthy diet, addressing health-related issues for solid bones and muscles, is further fueling the demand for fat filled milk powder in Korea. As consumers become more conscious of healthy diets, nutrients, and low-fat calories, there is a rapid boost in the adoption of fat filled milk powder in Korea.
Manufacturers calculate accurate fat content, providing consumers with the precise protein and vitamins needed, thereby increasing adoption. The demand for fat filled milk powder in Korea is rising due to consumers seeking advanced flavors and unique tastes. A growing trend in Korea is the increased adoption of sustainable and organic milk powder for various dishes and beverages.
Based on product type, fat filled milk powder 28% is likely to dominate the industry in Korea by securing a share of 34.60% in 2023. Consumers prefer low-calorie and low-fat beverages is leading to a significant increase in the adoption of 28% fat filled milk powder. Rising consumer awareness of healthy lifestyles and the need for better protein intake are also driving its adoption in Korea.
Consumers, facing digestion issues, prefer low-calorie and low-fat milk. They do not consume lactose milk because of their health considerations. This raises the demand for fat filled milk powder in Korea. Simultaneously, the growing demand for 28% fat filled milk powder, recognized for its precise protein and vitamin content, is driving the industry in Korea.
Based on end use, the dairy product segment is estimated to lead the industry by securing a share of 28.60% in 2023. The positive health associations of consuming milk, cheese, and yogurt, such as a lower risk of heart disease, stroke, hypertension, diabetes, metabolic syndrome, and colorectal cancer, have a significant impact on the fat filled milk powder industry in Korea. These health benefits contribute to an increased demand for dairy products, fostering industry growth.
In Korea, individuals are very much concerned with their health and appearance. The ability of yogurt, in particular, to aid in weight loss and fat reduction sets it apart from other dairy products. This unique characteristic makes fat filled milk powder, enriched with similar nutritional components, an appealing option for consumers looking to manage their weight and overall health.
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Key players are innovating by investing in research and development activities as well as launching novel products to expand the industry in Korea. They are adopting various strategies to fuel the Korean sector, including collaborations, acquisitions, and mergers.
Recent Developments in Fat Filled Milk Powder in Korea
| Attributes | Details |
|---|---|
| Estimated Industry Size in 2023 | US$ 64.92 million |
| Projected Industry Valuation in 2033 | US$ 117.90 million |
| Value-based CAGR 2023 to 2033 | 6.1% |
| Historical Analysis of Fat Filled Milk Powder in Korea | 2018 to 2022 |
| Demand Forecast for Fat Filled Milk Powder in Korea | 2023 to 2033 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing the adoption of Fat Filled Milk Powder in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korea Providers |
| Key Provinces Analyzed While Studying Opportunities in Fat Filled Milk Powder in Korea | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
| Key Companies Profiled | Amul; Nestle India Ltd; Mother Dairy; Nestle |
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The sales of fat filled milk powder in Korea are poised to reach US$ 64.92 million by 2023.
The adoption of fat filled milk powder in Korea is likely to surpass US$ 117.90 million by 2033.
The demand for fat filled milk powder in Korea is likely to rise at a CAGR of 6.1% from 2023 to 2033.
Companies innovate through adopting strategies like mergers, collaborations, acquisitions, and investments in Korea's fat filled milk powder industry.
South Jeolla witnesses rapid growth in demand for fat filled milk powder.
1. Executive Summary 2. Market Overview 3. Market Background 4. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033 5. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Product Type 5.1. 26% 5.2. Instant 26% 5.3. 28% 5.4. Instant 28% 6. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By End Use 6.1. B2B/ Food Processing Industry 6.1.1. Ice Cream 6.1.2. Bakery & Confectionary 6.1.3. Chocolate 6.1.4. Fruits and Flavored Beverages 6.1.5. Soups 6.1.6. Sauces 6.1.7. Coffee and Tea 6.1.8. Dairy Products (Yogurt, Cheese, Condensed Milk) 6.2. B2C/Retail 6.2.1. Supermarkets and Hypermarkets 6.2.2. Convenience Stores 6.2.3. Department Stores 6.2.4. Specialty Stores 6.2.5. Online Retail 7. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. South Gyeongsang 7.2. North Jeolla 7.3. South Jeolla 7.4. Jeju 7.5. Rest of Korea 8. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 9. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 10. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 11. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 12. Rest of Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033 13. Market Structure Analysis 14. Competition Analysis 14.1. HEECHANG DAIRY&FOOD CO., LTD 14.2. Kaskat Dairy 14.3. Alpen Food Group 14.4. Dana Dairy 14.5. Vreugdenhil 14.6. Armor Proteines 14.7. MP Biomedicals LLC 14.8. BONILAIT PROTEINES 14.9. Polindus 14.10. Holland Dairy Foods 14.11. Hoogwegt International 14.12. Belgomilk 14.13. Revala Ltd 14.14. Dale Farm Ltd 15. Assumptions & Acronyms Used 16. Research Methodology
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Demand and Trends Analysis of Fat Filled Milk Powder in Korea
