Home / Market Insights / Details

A Recap of Food Industry Production Value in South Korea, 2018

In 2018, South Korea’s food production scale reached 78.9 trillion (78.9 x 1012) South Korean Won (SKW), 5.1% higher than 2017. Dietary habits in South Korea have undergone rapid change. Among all the food categories, the production of ready-to-eat prepackaged food increased the most. Dairy production experienced a significant decline. Imported beer, red ginseng products, and probiotic products are in demand.

According to market data released by MFDS on August 26th, 2019, South Korea’s food production scale reached 78.9 trillion (78.9 x 1012) South Korean Won (SKW), which is 6.67 billion US dollars, in 2018, 5.1% higher than that achieved in 2017, with an average annual growth rate of 3.7% recorded over the last three years. The food sector accounted for 16.3% of domestic manufacturing production value and 4.4% of South Korea’s GDP.

Please Log in or Sign up (FREE) to read the full content.
Copyright: unless otherwise stated all contents of this website are ©2020 - REACH24H Consulting Group - All Rights Reserved - For permission to use any content on this site, please contact cleditor@chemlinked.com