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The South Korea vegan food market is expected to reach USD 33.23 million and grow at a CAGR of 6% between 2024 and 2032. The growing instance of lactose intolerance and preference for sustainable food is anticipated to lead the alternative meat market in the country.
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Vegetarians and vegans refrain from eating meat. Veganism , on the other hand, is stricter and forbids dairy, eggs, honey, and anything else derived from animal products, including meat, poultry, fish, and shellfish, as well as eggs, dairy products, honey, gelatin, and any kinds of animal protein or fats.
The number of animal welfare-conscious people is on the rise. Significantly, the younger generation is increasingly opting for a plant-based diet. This factor positively affects the market growth and urges manufacturers to launch more vegan food items in the South Korean food market.
Especially in Asian nations, lactose intolerance is extremely widespread. This is caused by "gene-culture co-evolution," A person has lactose intolerance if they are unable to digest lactose in milk because they are deficient in the lactase enzyme. Such people have bloating, flatulence, and diarrhoea after consuming dairy products. More than 75% of the South Korean population is lactose tolerant, aiding the vegan food market in the country. Companies are actively investing in the development of plant-based alternatives to dairy products.
Consumers prefer food items which are natural, healthy, and whose labels are easy to understand. Thus, they are more inclined toward clean label products than conventional food products. Furthermore, Customers tend to get more attracted toward the brands that focus on improving their environmental impact, making transparent ingredients labelled products popular. Additionally, rising discretionary income is also a contributing factor to the market progression.
Awareness regarding sustainable packaging is expanding, especially among generation Z and millennials, due to the increased use of social media. Furthermore, a global packaging exhibition known as ‘Korea Pack ’ is conducted every year, which provides a platform to disseminate the newest technologies and products related to the packaging industry.
In comparison to conventional celebrity-endorsed advertising, marketing that incorporates "real-life" scenarios such as when users use products or take up a specific lifestyle in their lives has more favourable impacts. It helps in moulding people's attitudes, intentions, and willingness to try, and builds connections with that celebrity. Several South Korean celebrities such as Lee Hyori, Lee Ha-Nui, and Claudia Kim, among others, support and follow a vegan lifestyle. Their influence among citizens also urges fans to opt for a vegan lifestyle.
People who consume a vegan diet which is low in fat and high in fibre, tend to lose weight faster than those who follow a non-vegetarian diet. It also helps maintain cholesterol levels, lowering the chances of developing any heart diseases. Moreover, the risk of developing several types of cancer in the human body is reduced among those who follow a vegan lifestyle. There is a chance that plant-based diets could result in insufficient protein, vitamin, and mineral consumption. However, these hazards may easily be avoided by taking the appropriate plant-based foods and, if required, supplements. Tofu, lentils, and spinach are rich sources of iron, whereas soy, almonds, and quinoa are good sources of protein.
Vegan cafes and restaurants are mainly available in posh areas such as Gangnam and Itaewon. As a result, vegan food is quite high-priced. Moreover, most people are non-vegetarians in the country; hence very few restaurants offer plant-based alternatives. Veganism is undoubtedly a growing trend, although there is just a small percentage of the population that practises it. Once vegan businesses have established a market presence and a devoted consumer base, they will be able to reduce R&D expenditures, resulting in lower prices for the end user.
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Based on product type, the South Korea vegan food market can be segmented into Dairy Alternatives such as Milk, Cheese, Yoghurt, and Dessert, among others, meat substitutes such as Tofu, TVP, Seiten, and Quorn, among others, Egg Alternatives, Vegan Bakery, Confectionary, and Plant-based snacks, among others. Based on distribution channels, the market can be bifurcated into hypermarkets and Supermarkets, Convenience Stores, Specialty Stores, and Online, among others.
The growing health and environmental concerns drive the market for dairy, egg and meat alternatives. They secure a significant share in the market, followed by plant-based snacks, bakery and confectionary products.
The rising prevalence of lactose intolerance and consumer awareness regarding the environment and animal cruelty are expected to aid the market growth during the forecast period.
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The PlanEat Inc. - Through technical developments, PlantEat intends to make new plant-based food products widely accessible for consumption by everyone. The PlantEat is a food technology firm that creates, develops, manufactures, sells, and distributes a range of plant-based substitutes. It was created to address social problems including the excessive reliance on animal products in diets and nutritional imbalances around the world. The PlantEat seeks to enhance and establish balanced eating practises to maintain everyone's health and fitness.
CJ Cheildang- A division of the CJ Group, CJ CheilJedang Corp. is active in the biotechnology and food industry. In addition to instant cooked rice and mixed flour goods, this company sells health foods, processed foods, and animal feeds. The company has a separate brand for vegan food products known as PlantTable. The brand is known for its eco-friendly and advanced biotechnology in the market. The company is headquartered in Seoul, South Korea, with various branches in Asia-pacific, the United States of America and European regions.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product Type |
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Breakup by Distribution Channels |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Industry Opportunities and Challenges
8 South Korea Vegan Food Market Analysis
8.1 Key Industry Highlights
8.2 South Korea Vegan Food Historical Market (2018-2023)
8.3 South Korea Vegan Food Market Forecast (2024-2032)
8.4 South Korea Vegan Food Market by Product Type
8.4.1 Dairy Alternatives
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.1.4 Breakup by Type
8.4.1.4.1 Milk
8.4.1.4.2 Cheese
8.4.1.4.3 Yoghurt
8.4.1.4.4 Dessert
8.4.1.4.5 Others
8.4.2 Meat Substitutes
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.2.4 Breakup by Type
8.4.2.4.1 Tofu
8.4.2.4.2 TVP
8.4.2.4.3 Seiten
8.4.2.4.4 Quorn
8.4.2.4.5 Others
8.4.3 Egg Alternatives
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Vegan Bakery
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Confectionery
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2023)
8.4.5.3 Forecast Trend (2024-2032)
8.4.6 Plant-Based Snacks
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2023)
8.4.6.3 Forecast Trend (2024-2032)
8.4.7 Others
8.5 South Korea Vegan Food Market by Distribution Channels
8.5.1 Hypermarkets and Supermarkets
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Convenience Stores
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Specialty Stores
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Online
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 Others
9 Market Dynamics
9.1 SWOT Analysis
9.1.1 Strengths
9.1.2 Weaknesses
9.1.3 Opportunities
9.1.4 Threats
9.2 Porter’s Five Forces Analysis
9.2.1 Supplier’s Power
9.2.2 Buyer’s Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key Indicators for Demand
9.4 Key Indicators for Price
10 Competitive Landscape
10.1 Market Structure
10.2 Company Profiles
10.2.1 CJ CheilJedang Corp.
10.2.1.1 Company Overview
10.2.1.2 Product Portfolio
10.2.1.3 Demographic Reach and Achievements
10.2.1.4 Certifications
10.2.2 Phyto Corporation
10.2.2.1 Company Overview
10.2.2.2 Product Portfolio
10.2.2.3 Demographic Reach and Achievements
10.2.2.4 Certifications
10.2.3 The PlantEat Inc
10.2.3.1 Company Overview
10.2.3.2 Product Portfolio
10.2.3.3 Demographic Reach and Achievements
10.2.3.4 Certifications
10.2.4 Zikooin Company
10.2.4.1 Company Overview
10.2.4.2 Product Portfolio
10.2.4.3 Demographic Reach and Achievements
10.2.4.4 Certifications
10.2.5 Others
11 Industry Events and Developments
List of Figures and Tables
1. South Korea Vegan Food Market: Key Industry Highlights, 2018 and 2032
2. South Korea Vegan Food Historical Market: Breakup by Product Type (USD Million), 2018-2023
3. South Korea Vegan Food Market Forecast: Breakup by Product Type (USD Million), 2024-2032
4. South Korea Vegan Food Historical Market: Breakup by Distribution Channels (USD Million), 2018-2023
5. South Korea Vegan Food Market Forecast: Breakup by Distribution Channels (USD Million), 2024-2032
6. South Korea Vegan Food Market Structure
The South Korea vegan market is projected to grow at a CAGR of 6% between 2024 and 2032.
The South Korea vegan food market is estimated to witness a healthy growth in the forecast period and is expected to reach USD 33.23 million by 2032.
Sustainable packaging, rising disposable income, celebrity influence, health benefits, and high demand for clean-labelled products are the major drivers.
Lactose intolerance among people and awareness regarding animal cruelty are the key trends in the South Korea vegan market.
The dominant type of vegan food in the industry are and Dairy alternatives, meat substitutes, egg alternatives, vegan bakery, confectionary, and plant-based snacks, among others.
The distribution channel segment is led by supermarkets/hypermarkets, convenience stores, specialty stores, and online stores, among others.
The major players in the industry are Phyto Corporation, The PlantEat Inc., Zikooin Company, and CJ Cheiljedang Corp., among others.
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