Analytical Study of Products from Food Waste in Korea from 2023 to 2033

The demand for products from food waste in Korea is expected to experience steady CAGR of 3.3% through 2033. The industry is on the verge of substantial opportunities and is anticipated to reach a valuation of US$ 1,923.27 million in 2023.

Consumer preferences for products made from food waste, especially in the form of upcycled food products like snacks, beverages, and cosmetics, are growing. The products are often marketed as environmentally responsible. The demand for products from food waste in Korea is likely to secure US$ 2,663.05 million valuation by 2033.

Key Insights - Highlights to Understand Emerging and Fast Growing Opportunities

  • Organizations and government agencies are running education and awareness campaigns to inform consumers and businesses about the importance of reducing food waste, which can contribute to increased demand for food waste products.
  • Collaboration between the food industry, waste management companies, and technology firms is driving innovation in the food waste sector. The partnerships can create opportunities for new products and services.
  • Efforts to change consumer behavior, such as meal planning and food waste reduction, can indirectly contribute to the growth of the food waste product industry by reducing the supply of food waste.
  • Advancements in food waste processing technologies, such as biorefining and fermentation, are making it more feasible to convert food waste into valuable products.
Attributes Details
Industry Size of Products from Food Waste in Korea in 2023 US$ 1,923.27 million
Expected Industry Size of Products from Food Waste in Korea by 2033 US$ 2,663.05 million
Forecasted CAGR from 2023 to 2033 3.3%

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Key Trends Influencing the Demand for Products from Food Waste in Korea

  • The government in Korea has been actively promoting sustainable practices and the reduction of food waste. Initiatives like the food waste recycling law have been implemented to encourage the recycling and upcycling of food waste, creating opportunities for the production of items made from food waste.
  • The food and beverage industry in Korea is continuously evolving. Companies are exploring ways to minimize waste, potentially leading to collaborations with manufacturers of food waste products.
  • The establishment of value chains that transform food waste into various products, such as bio-based chemicals, materials, and energy, is a promising trend that can lead to diverse revenue streams.

Category-wise insights

Citrus Waste Finds New Life in Korea’s Cosmetic and Personal Care Products

Citrus peels and pulps are nutrient-rich and contain valuable compounds like antioxidants, vitamins, and dietary fiber. The properties make them suitable for the production of functional foods and dietary supplements, which are increasingly popular among health-conscious consumers.

Products from Food Waste in Korea based on Source Citrus
Share in % in 2023 8.0%

By source, the citrus segment is expected to account for a share of 8.0% in 2023. The food and beverage industry in Korea is continuously looking for innovative and natural ingredients to enhance the flavor and nutritional content of products. Citrus byproducts can be used in the production of juices, jams, sauces, and other food and beverage items.

Citrus extracts and oils derived from citrus waste are often used in cosmetic and personal care products for their fragrance and potential skin benefits. The demand for natural ingredients in these products is driving the use of citrus byproducts.

Korea's Food Processing Industry Adapts to Regulatory Push for Sustainable Practices

Based on end user, the food processing segment is expected to account for a share of 19.0% in 2023. Incorporating food waste ingredients can provide a cost-effective alternative to traditional raw materials, thereby reducing production costs for food processors.

Products from Food Waste in Korea based on End User Food Processing
Share in % in 2023 19.0%

The regulations and initiatives focused on reducing food waste encourage the food processing industry in Korea, to explore innovative ways to utilize food waste, ensuring regulatory compliance. Food waste materials can be used to create a wide range of products, including additives, flavorings, and dietary fiber, which can enhance the nutritional profile and sensory appeal of food products.

The development of food waste-derived ingredients and additives allows food processors to create innovative and differentiated products, meeting evolving consumer demands for unique food items.

Nandini Roy Choudhury
Nandini Roy Choudhury

Principal Consultant

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Province-wise Insights

Agriculture and Fisheries to Boost the Industry in the South Gyeongsang

South Gyeongsang is known for its significant agricultural and fisheries sectors. The availability of agricultural waste and byproducts, as well as seafood related waste, can serve as valuable resources for the production of food waste derived products. Local government and regional organizations in South Gyeongsang may implement initiatives to promote food waste reduction, recycling, and the development of value added products from food waste.

Collaboration with Local Farmers in North Jeolla to Enhance the Products from Food Waste Landscape

Collaboration between food waste product manufacturers and local farmers can help reduce waste and create value added products. There may be a growing demand for products that are eco-friendly and derived from food waste, as consumers become more environmentally conscious. The province may explore waste to energy projects, including the conversion of food waste into bioenergy, which can contribute to the growth of the industry. Public awareness campaigns and educational programs promoting food waste reduction products can stimulate consumer interest in such products.

Tourism Industry in Jeju to Accelerate the Ecosystem

Jeju is a popular tourist destination, and businesses catering to tourists may be inclined to offer products made from food waste as a part of their sustainability initiatives. Local campaigns and education programs aimed at reducing food waste and promoting products can drive consumer demand for such items. The entrepreneurial ecosystem in Jeju may see small-scale startups focusing on food waste products, benefiting from local resources and a growing demand for sustainable goods. Hotels, restaurants, and resorts in Jeju may collaborate with food waste product manufacturers to incorporate such products into their offerings.

Competitive Landscape

The competitive landscape of the products from food waste ecosystem in Korea is evolving as the industry experiences growth and innovation. The landscape encompasses a variety of players from startups and small enterprises to established corporations. The competitiveness of the industry is influenced by factors such as product offerings, industry positioning, technological innovation, and regional collaborations.

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Some of the Key Players with Products from Food Waste in Korea

  • CJ Group
  • Samsung C&T
  • Hyundai Green Food
  • Lotte Group
  • SK Group
  • Hanwha Group
  • LG Group
  • Doosan Corporation
  • POSCO
  • KIFST
  • KEITI
  • KAIST

Recent Developments Observed in Products from Food Waste in Korea

  • In 2023, CJ Group announced plans to build a new food waste recycling plant in Gyeonggi Province. The plant is expected to be operational in 2024 and will have a capacity to recycle 500 tons of food waste per day.
  • In 2023, Samsung C&T announced a partnership with the Korean Institute of Food Science and Technology to develop new products from food waste. The partnership will focus on developing innovative products from food waste, such as biodegradable food packaging and biofuels.
  • In 2023, Hyundai Green Food announced the launch of a new line of food waste products, including compost, fertilizer, and animal feed. The company is using a variety of technologies to convert food waste into these products, including composting, anaerobic digestion, and pyrolysis.
  • In 2022, Lotte Group announced plans to invest US$ 76 million in the development of new products from food waste. The investment will be used to build new food waste recycling plants and to develop new technologies for converting food waste into useful products.

Scope of the Report

Attribute Details
Estimated Industry Size in 2023 US$ 1,923.27 million
Projected Industry Size by 2033 US$ 2,663.05 million
Anticipated CAGR from 2023 to 2033 3.3% CAGR
Historical Analysis of Demand for Products from Food Waste in Korea 2018 to 2022
Demand Forecast for Products from Food Waste in Korea 2023 to 2033
Report Coverage Industry Size, Industry Trends, Analysis of key factors influencing Products from Food Waste adoption in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Manufacturers in Korea
Key Provinces Analyzed while Studying Opportunities in Products from Food Waste in Korea South Gyeongsang, North Jeolla, South Jeolla, Jeju
Key Companies Profiled CJ Group; Samsung C&T; Hyundai Green Food; Lotte Group; SK Group; Hanwha Group; LG Group; Doosan Corporation; POSCO; KIFST; KEITI; KAIST

Key Segments

By Source:

  • Mangoes
  • Apples
  • Grapes
  • Citrus Fruits
  • Carrots
  • Beetroot
  • Berries
  • Others

By End User:

  • Food Processing
  • Beverage Processing
  • Cosmetics & Personal Care
  • Dietary Supplements & Nutraceuticals
  • Animal Feed
  • Others

By Province:

  • South Gyeongsang
  • North Jeolla
  • South Jeolla
  • Jeju

Frequently Asked Questions

What is the Industry Size of Products from Food Waste in Korea in 2023?

The products from food waste industry in Korea is valued at US$ 1,923.27 million in 2023.

At What Rate is the Products from Food Waste Ecosystem Growing in Korea?

The anticipated CAGR for the products from food waste landscape in Korea through 2033 is 3.3%.

How Big will be the Demand for the Products from Food Waste in Korea?

Demand for products from food waste in Korea is expected to reach US$ 2,663.05 million by 2033.

Which is the Preferred Source for Products from Food Waste industry in Korea?

Citrus segment is expected to dominate the demand for products from food waste in Korea.

Which End User Contributes Significantly to the Products from Food Waste Ecosystem in Korea?

Food processing segment to remain a key contributor in the products from food waste ecosystem in Korea.

Table of Content

1. Executive Summary

    1.1. Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Product Life Cycle Analysis

    3.5. Supply Chain Analysis

        3.5.1. Supply Side Participants and their Roles

            3.5.1.1. Producers

            3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)

            3.5.1.3. Wholesalers and Distributors

        3.5.2. Value Added and Value Created at Node in the Supply Chain

        3.5.3. List of Raw Material Suppliers

        3.5.4. List of Existing and Potential Buyer’s

    3.6. Investment Feasibility Matrix

    3.7. Value Chain Analysis

        3.7.1. Profit Margin Analysis

        3.7.2. Wholesalers and Distributors

        3.7.3. Retailers

    3.8. PESTLE and Porter’s Analysis

    3.9. Regulatory Landscape

        3.9.1. By Key Regions

        3.9.2. By Key Countries

    3.10. Regional Parent Market Outlook

    3.11. Production and Consumption Statistics

    3.12. Import and Export Statistics

4. Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033

    4.1. Historical Market Size Value (US$ Million) & Volume (MT) Analysis, 2018 to 2022

    4.2. Current and Future Market Size Value (US$ Million) & Volume (MT) Projections, 2023 to 2033

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Source

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Source, 2018 to 2022

    5.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Source, 2023 to 2033

        5.3.1. Mango

        5.3.2. Apples

        5.3.3. Grapes

        5.3.4. Citrus Fruits

        5.3.5. Carrots

        5.3.6. Beetroot

        5.3.7. Others (Berries, etc.)

    5.4. Y-o-Y Growth Trend Analysis By Source, 2018 to 2022

    5.5. Absolute $ Opportunity Analysis By Source, 2023 to 2033

6. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Application

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Application, 2018 to 2022

    6.3. Current and Future Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Application, 2023 to 2033

        6.3.1. Food Processing

        6.3.2. Beverage Processing

        6.3.3. Cosmetics & Personal Care

        6.3.4. Animal Feed

        6.3.5. Others (Dietary Supplements and Nutraceuticals)

    6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022

    6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033

7. Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region

    7.1. Introduction

    7.2. Historical Market Size Value (US$ Million) & Volume (MT) Analysis By Region, 2018 to 2022

    7.3. Current Market Size Value (US$ Million) & Volume (MT) Analysis and Forecast By Region, 2023 to 2033

        7.3.1. South Gyeongsang

        7.3.2. North Jeolla

        7.3.3. South Jeolla

        7.3.4. Jeju

        7.3.5. Rest of Korea

    7.4. Market Attractiveness Analysis By Region

8. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033

    8.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022

    8.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033

        8.2.1. By Source

        8.2.2. By Application

    8.3. Market Attractiveness Analysis

        8.3.1. By Source

        8.3.2. By Application

    8.4. Key Takeaways

9. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033

    9.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022

    9.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033

        9.2.1. By Source

        9.2.2. By Application

    9.3. Market Attractiveness Analysis

        9.3.1. By Source

        9.3.2. By Application

    9.4. Key Takeaways

10. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033

    10.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022

    10.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033

        10.2.1. By Source

        10.2.2. By Application

    10.3. Market Attractiveness Analysis

        10.3.1. By Source

        10.3.2. By Application

    10.4. Key Takeaways

11. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033

    11.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022

    11.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033

        11.2.1. By Source

        11.2.2. By Application

    11.3. Market Attractiveness Analysis

        11.3.1. By Source

        11.3.2. By Application

    11.4. Key Takeaways

12. Rest of Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033

    12.1. Historical Market Size Value (US$ Million) & Volume (MT) Trend Analysis By Market Taxonomy, 2018 to 2022

    12.2. Market Size Value (US$ Million) & Volume (MT) Forecast By Market Taxonomy, 2023 to 2033

        12.2.1. By Source

        12.2.2. By Application

    12.3. Market Attractiveness Analysis

        12.3.1. By Source

        12.3.2. By Application

    12.4. Key Takeaways

13. Market Structure Analysis

    13.1. Competition Dashboard

    13.2. Competition Benchmarking

    13.3. Market Share Analysis of Top Players

        13.3.1. By Regional

        13.3.2. By Source

        13.3.3. By Application

14. Competition Analysis

    14.1. Competition Deep Dive

        14.1.1. ReHarvest

            14.1.1.1. Overview

            14.1.1.2. Product Portfolio

            14.1.1.3. Profitability by Market Segments

            14.1.1.4. Sales Footprint

            14.1.1.5. Strategy Overview

                14.1.1.5.1. Marketing Strategy

        14.1.2. Ecoand

            14.1.2.1. Overview

            14.1.2.2. Product Portfolio

            14.1.2.3. Profitability by Market Segments

            14.1.2.4. Sales Footprint

            14.1.2.5. Strategy Overview

                14.1.2.5.1. Marketing Strategy

        14.1.3. CJ CheilJedang Corp.

            14.1.3.1. Overview

            14.1.3.2. Product Portfolio

            14.1.3.3. Profitability by Market Segments

            14.1.3.4. Sales Footprint

            14.1.3.5. Strategy Overview

                14.1.3.5.1. Marketing Strategy

        14.1.4. Jrink Juicery

            14.1.4.1. Overview

            14.1.4.2. Product Portfolio

            14.1.4.3. Profitability by Market Segments

            14.1.4.4. Sales Footprint

            14.1.4.5. Strategy Overview

                14.1.4.5.1. Marketing Strategy

        14.1.5. Misfit Foods

            14.1.5.1. Overview

            14.1.5.2. Product Portfolio

            14.1.5.3. Profitability by Market Segments

            14.1.5.4. Sales Footprint

            14.1.5.5. Strategy Overview

                14.1.5.5.1. Marketing Strategy

        14.1.6. ReGrained, LLC

            14.1.6.1. Overview

            14.1.6.2. Product Portfolio

            14.1.6.3. Profitability by Market Segments

            14.1.6.4. Sales Footprint

            14.1.6.5. Strategy Overview

                14.1.6.5.1. Marketing Strategy

        14.1.7. Rise Products

            14.1.7.1. Overview

            14.1.7.2. Product Portfolio

            14.1.7.3. Profitability by Market Segments

            14.1.7.4. Sales Footprint

            14.1.7.5. Strategy Overview

                14.1.7.5.1. Marketing Strategy

        14.1.8. Rubies in the Rubble

            14.1.8.1. Overview

            14.1.8.2. Product Portfolio

            14.1.8.3. Profitability by Market Segments

            14.1.8.4. Sales Footprint

            14.1.8.5. Strategy Overview

                14.1.8.5.1. Marketing Strategy

        14.1.9. Snact Ltd.

            14.1.9.1. Overview

            14.1.9.2. Product Portfolio

            14.1.9.3. Profitability by Market Segments

            14.1.9.4. Sales Footprint

            14.1.9.5. Strategy Overview

                14.1.9.5.1. Marketing Strategy

        14.1.10. Toast Ale Ltd.

            14.1.10.1. Overview

            14.1.10.2. Product Portfolio

            14.1.10.3. Profitability by Market Segments

            14.1.10.4. Sales Footprint

            14.1.10.5. Strategy Overview

                14.1.10.5.1. Marketing Strategy

        14.1.11. Aeropowder

            14.1.11.1. Overview

            14.1.11.2. Product Portfolio

            14.1.11.3. Profitability by Market Segments

            14.1.11.4. Sales Footprint

            14.1.11.5. Strategy Overview

                14.1.11.5.1. Marketing Strategy

        14.1.12. Bio-bean Ltd.

            14.1.12.1. Overview

            14.1.12.2. Product Portfolio

            14.1.12.3. Profitability by Market Segments

            14.1.12.4. Sales Footprint

            14.1.12.5. Strategy Overview

                14.1.12.5.1. Marketing Strategy

        14.1.13. Circular Systems S.P.C.

            14.1.13.1. Overview

            14.1.13.2. Product Portfolio

            14.1.13.3. Profitability by Market Segments

            14.1.13.4. Sales Footprint

            14.1.13.5. Strategy Overview

                14.1.13.5.1. Marketing Strategy

15. Assumptions & Acronyms Used

16. Research Methodology

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