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Food Industry Trends

The food industry in Korea has been recently characterized by:

1. An expansion of products that emphasize the exclusion of chemical additives in response to a heightened awareness and growing interest in health.
2. Increased public interest in HMR(Home Meal Replacement) which has good nutrition but convenient to cook.
3. An expanded market for cosmetic, functional foods.
4. An increased interest in foreign traditional and ethnic food in response to a diversification of dietary life and increased opportunities for overseas trips.
5. A growing interest in weaning foods and products for infants as well as the foods for seniors as a result of a sharp rise in elderly households.

Market Size

Production in the Korean food industry has expanded considerably in recent years, growing by 8.1% per year between 2005 and 2009 according to the Korea Food and Drug Administration.

The global food industry has been recently characterized by:

1. An increase in vegetable consumption as a result of an increase in vegetarians not only in western countries, but as well as in Asia.
2. A growing interest in Allegern-Free products in response to the statistic showing that 1 out of 12 people in the world has allergy.
3. A growing preference on fermented foods such as kimchi, sour crout, pickle, etc due to an increased interest in health.
4. A growing preference for fast-food products such as ramen.
5. An increased interest in foreign traditional and ethnic foods, especially formerly lesser-known national cuisines.

Status of Korean Food Exports and Imports

Major destinations and sources of Korean food exports and imports (2011)