According to our industry analysis, the demand for whole-wheat flour in Korea, in terms of value, is estimated to be around USD 1,456.1 million in 2023.
Over the next ten years, the sales of whole-wheat flour in the country are forecasted to rise at 3.6% CAGR. The forecast further predicts the net valuation of the whole-wheat flour industry in Korea to reach USD 2,081.4 million by 2033.
| Attributes | Details |
|---|---|
| Industry Size of Korea in 2023 | USD 1,456.1 million |
| Expected Industry Size of Korea by 2033 | USD 2,081.4 million |
| Forecasted CAGR between 2023 to 2033 | 3.6% |
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As people in Korea are shifting toward healthier eating practices, there is a growing adoption of whole-wheat flour as part of their regular balanced diet. Because whole-wheat flour contains more fiber and other minerals, its use in Korea is rising as a healthier alternative against refined flour and dishes prepared from it.
Bakery products and confectionaries prepared from whole-wheat are also becoming more popular in Korea with the growing influence of Western culinary practices. In addition to this, Korean people are choosing whole-grain wheat products due to rising cases of celiac illness and gluten sensitivity.
The necessity of a robust supply chain for wheat grain imports has come to light by the pandemic and deteriorating geopolitical situations. The whole-wheat flour business in Korea is poised to flourish as regional players have shown immense flexibility and are increasingly diversifying their source of wheat grains.
The conventional whole-wheat flour segment is anticipated to capture around 34% of total sales in Korea in 2023.
| Whole-wheat Flour in Korea based on Nature | Conventional Whole-wheat Flour |
|---|---|
| Total Share (2023) | 34% |
Conventional whole-wheat flour has the potential to draw in a larger customer base in Korea as it can be priced competitively with regular flour. However, aggressive marketing and strong branding by organic whole-wheat flour suppliers in Korea are anticipated to strengthen the organic segment in the coming days.
Higher application of whole-wheat flour for bakery production is expected to contribute to 31% of the total sales in Korea in 2023.
| Whole-wheat Flour in Korea based on End Use Application | Bakery Product |
|---|---|
| Total Share (2023) | 31% |
Bakery businesses in Korea typically prefer whole-wheat flour as it is more affordable and convenient to handle during baking and kneading. The share of this segment is anticipated to increase further due to the growing popularity of specialized bakeries and cafés that place a higher emphasis on premium and healthy products.
The overall whole-wheat sector in Korea is highly consolidated as the country is traditionally rice-based and most of the wheat is imported by some leading players. Public awareness efforts by whole-wheat flour manufacturers in Korea emphasizing the flexibility and health advantages of the product are expected to encourage the rise of more regional players.
Consumer decisions as well as whole-wheat flour manufacturers in Korea are anticipated to be influenced by government initiatives that support a healthy diet. Backing and financial assistance for companies making whole-wheat products and other healthy food alternatives are expected to expand and diversify the industry during the projected years.
Recent Developments for the Whole-wheat Flour Industries in Korea
In September 2022, South Korea decided to use rice flour in place of wheat flour whenever feasible to address growing price and supply chain issues. Since Russia and Ukraine combined account for almost a quarter of the world's wheat supply, the unrest last year raised worries about a possible wheat shortage in Korea. South Korea is considering different creative solutions to close this gap and increase its whole-wheat flour supply in recent years.
According to an updated survey report, about 50% of South Korea's whole-wheat flour demand in 2021 came from the noodles industry. Furthermore, around 30% of wheat flour was consumed in the bakery products sector, while 8% was utilized in the preparation of confectionery items. Pasta and noodles sales in South Korea are expected to reach a volume of 494 million kilograms in 2023, up from 433 million kilograms in 2017.
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| Attribute | Details |
|---|---|
| Estimated Industry Size in 2023 | USD 1,456.1 million |
| Projected Industry Size by 2033 | USD 2,081.4 million |
| Anticipated CAGR between 2023 to 2033 | 3.6% CAGR |
| Historical Analysis of Demand for Whole-wheat Flour in Korea | 2018 to 2022 |
| Demand Forecast for Whole-wheat Flour in Korea | 2023 to 2033 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing Whole-wheat Flour in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Korea Providers |
| Key Companies Profiled | CJ CheilJedang; SPC Samlip Corporation; Shinsegae Food; Ottogi Food; Pulmuone Inc.; Maeil Dairies Co., Ltd.; Binggrae Co., Ltd.; Seoul Food; Dongwon F&B; Sajo Group; Lotte Samyang; Nongshim Inc. |
| Key Provinces Analyzed while Studying Opportunities in Whole-wheat Flour in Korea | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
The anticipated CAGR for whole-wheat flour sales in Korea through 2033 is 3.6%.
Whole-wheat flour business in Korea could be around USD 2,081.4 million by 2033.
Whole-wheat flour supplying companies are diversifying their wheat sources.
Bakery segment to account for 31% revenue share in Korea in 2023.
Adoption of conventional whole-wheat flour currently garners 34% of total sales in Korea.
| Market Value (2023) | USD 3.4 billion |
|---|---|
| Market Anticipated Value (2033) | USD 5.7 billion |
| Market CAGR (2023 to 2033) | 5.3% |
| Market Value (2022) | USD 72.71 Billion |
|---|---|
| Market Value (2032) | USD 130.34 Billion |
| CAGR (2022 to 2032) | 6.7% |
| Expected Market Value (2022) | USD 12.8 Billion |
|---|---|
| Market Anticipated Forecast Value (2032) | USD 17.3 Billion |
| Market Projected CAGR (2022 to 2032) | 9.1% |
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Whole-wheat Flour Industry Analysis in Korea
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