South Korea Plant-based Milk Market Size, Share and Outlook - Growth Analysis Report and Forecast Trends (2026-2035)

Key Trends and Recent Developments

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South Korea Plant-based Milk Industry Segmentation

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Market Share by Nature

Over time, there has been a rise in demand for organic food. For a variety of reasons, such as animal welfare, the environment, and health, more people are choosing organic food, such as organic milk. Moreover, due to several environmental and health issues, along with the COVID-19 pandemic, most consumers have switched from conventional milk to plant-based milk. Many inaccurate assertions have been made about plant-based foods, such as that customers would have to sacrifice texture or flavour or that they would not deliver enough nutrients. More options are emerging in the market as a result of the competition between businesses to offer a variety of goods for different preferences, which is bolstering the development of the plant-based milk market in South Korea.

Market Share by Product

Due to its shared advantages of being cholesterol-free, lactose-free, and low in calories, all types of plant-based milk are favoured over regular milk by customers who are allergic to milk proteins or are lactose intolerant. One of the first plant-based milk that served the objective of supplying nutrition to the lactose-intolerant populace was soy milk. It offers users a hydrating, low-cost, and nutritious beverage. Due to its possible health advantages, oat milk is a recent and preferred market entrant. Due to their high nutritional value, dietary fibre content, and availability of phytochemicals, oat milk has attracted a lot of attention among the Asian population. Oats contain -glucan, a functionally active substance with potential neutraceutical benefits, which is mostly what has sparked interest in them. A soluble fibre called β-glucan delays gastrointestinal emptying time, which is linked to lower blood glucose levels. Furthermore, with the ongoing research in the plant-based milk industry researchers are preparing several other milk alternatives other than soy milk and oat milk such as coconut milk, hazelnut milk, quinoa milk, peanut milk, almond milk, and rice milk, among others.

Market Share by Formulations

Milk wasn't always a part of people's diets across Asia, including South Korea. Milk wasn't catching on since it had an odd flavour for the Korean palate. Therefore, to boost the taste and attractiveness, businesses started to add flavours. Binggrae launched the first banana-flavoured milk in the Korean market in 1974. Banana milk swiftly became the most widely consumed milk flavour in Korea due to its sweet and aromatic flavour as well as the perception at the time that bananas were a rare and upscale food. After then, Binggrae gained popularity in addition to Seoul Milk, the national milk brand. At present time as well flavoured milk is very popular among all age groups hence companies are now also launching flavoured plant-based milk along with unflavoured plant-based milk leading to the development of the market in South Korea.

Market Share by Distribution Channels

Since COVID-19, the sales of plant-based milk surged due to lockdown and social distancing regulations. Moreover, Pandemic-induced panic purchasing resulted in sales of several plant-based foods and beverages, including plant-based milk. Due to increased demand and consumer awareness plant-based milk are available in both online and offline stores. Both segments are expected to perform well in the market during the forecast period. 

The market for plant-based milk in South Korea will grow as a result of high living standards and rising disposable incomes, along with the growing inclination for sustainable and healthy diets. The industry for plant-based milk is also expanding as a result of the growing trend of veganism in South Korea.

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Competitive Landscape

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