Summary

The flavored milk market in South Korea has been growing steadily, driven by factors such as changing consumer preferences, urbanization, and increased disposable income. The market is characterized by a high demand for various flavored milk products. In addition to traditional flavors, South Korea's flavored milk market offers a range of unique and innovative flavors to cater to evolving consumer preferences. Flavors such as green tea, coffee, mango, peach, and melon have gained popularity, appealing to consumers seeking new taste experiences. Health consciousness is a growing trend in the South Korean flavored milk market. Manufacturers are increasingly offering low-fat, reduced-sugar, and fortified options to meet the demands of health-conscious consumers. Some brands also promote the inclusion of functional ingredients like probiotics for added health benefits. Manufacturers in the South Korean flavored milk market heavily invests in marketing and advertising campaigns to create brand awareness and attract consumers. Television commercials, social media promotions, and celebrity endorsements are commonly used strategies to engage consumers and increase brand visibility. Flavored milk holds a strong cultural preference in South Korea. It is deeply ingrained in the local food culture and is often consumed as a popular beverage choice. South Korea has a vibrant pop culture scene that significantly influences consumer preferences. Celebrity endorsements, product placements in popular TV shows and dramas, and collaborations with K-pop idols are often used in marketing campaigns to promote flavored milk products and generate buzz among consumers.
According to the research report " South Korea Flavored Milk Market Overview, 2028," published by Bonafide Research, The South Korea Flavored Milk Market is expected to grow at above 6.31% CAGR from 2023 to 2028. The flavored milk market in South Korea has its own unique specialties that distinguish it from other markets. Rich and Creamy Texture, Unique Flavors, Banana Milk Craze, Packaging Design, Health and Functional Variants, Cultural Significance, etc. In the flavored milk market of South Korea, various packaging options are available to cater to consumer preferences and convenience. South Korean flavored milk products are known for their visually appealing and creative packaging designs. Bright colors, playful illustrations, and eye-catching characters are often used to attract consumers, especially children and young adults. Some common packaging types used in the South Korean flavored milk market are Cartons/Tetra Pak, Bottles, Pouches, Glass Bottles, Cans, etc. The South Korean flavored milk market offers a wide variety of unique flavors that cater to diverse consumer preferences. Alongside popular flavors like chocolate, strawberry, and vanilla, there are innovative options such as green tea, banana milk, coffee, melon, peach, and even more unconventional flavors like sweet potato and corn.

In South Korea, the flavored milk market can be categorized into two main types based on the source of milk: dairy-based flavored milk and plant-based flavored milk. Dairy-based flavored milk is the traditional and dominant segment in the South Korean market. It is made from cow's milk and undergoes processes such as pasteurization and homogenization to ensure safety and consistency. Dairy-based flavored milk is known for its creamy and rich texture, providing a satisfying and indulgent drinking experience. The plant-based flavored milk segment in South Korea is relatively smaller but has been gaining attention and popularity in recent years. Plant-based flavored milk is made from alternative sources such as soybeans, almonds, oats, rice, or coconuts, catering to consumers with dietary preferences or restrictions. These products offer a non-dairy alternative to those who are lactose intolerant, have dairy allergies, or follow a vegan lifestyle. Plant-based flavored milk is available in a variety of flavors, including chocolate, vanilla, matcha (green tea), and more, providing options for diverse taste preferences. Several popular companies sell and produce flavored milk in the South Korean flavored milk market. Such as Maeil Dairies Co., Ltd., Seoul Milk Co., Ltd., Binggrae Co., Ltd., Namyang Dairy Products Co., Ltd., Dongwon Dairy Farm, Seoul Dairy Cooperative. In South Korea, the flavored milk market utilizes various distribution channels to make products available to consumers. They are, Supermarkets and Hypermarkets, Convenience Stores, Online Retail, Cafes and Coffee Chains, School Cafeterias and Vending Machines, Direct Sales.
Recent Developments
In South Korea, flavoured milk is a popular beverage, particularly among children and young adults. Some well-known companies that produce flavoured milk or related dairy products in South Korea include:
• Maeil Dairy is a leading dairy company in South Korea and offers a range of flavored milk products. In recent years, they have focused on introducing new flavors and variants to cater to changing consumer preferences. They have launched innovative flavors such as Green Grape, Choco Melon, and Mango Squeeze, targeting younger consumers seeking unique and refreshing options.

• Binggrae is a well-known food and beverage company in South Korea. They have been actively expanding their flavored milk product portfolio with new flavors and limited edition releases. For example, they introduced the "Banana Milk Plus" line, which includes flavors like Strawberry Banana and Caramel Banana. These variations aim to provide consumers with more diverse and indulgent options.

• Lotte Chilsung is a major player in the South Korean beverage industry, including flavored milk. They have recently introduced new flavored milk products with a focus on health and wellness. Lotte Chilsung has launched low-calorie and sugar-free options to meet the demands of health-conscious consumers who still want to enjoy the taste of flavored milk.

• Haitai Dairy is known for its flavored milk brand called "Milky," which has been a popular choice among South Korean consumers for many years. They have been actively promoting their product through various marketing campaigns, collaborations with influencers, and limited edition packaging designs to maintain their market presence and engage with consumers.

• Namyang Dairy is a prominent dairy company in South Korea and offers a range of flavored milk products. They have recently focused on developing flavored milk products that incorporate functional ingredients such as probiotics or added nutrients for enhanced health benefits. These products target health-conscious consumers looking for a combination of flavor and nutritional value.

Considered in this report
• Geography: South Korea
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• South Korea flavoured milk market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product type
• Dairy-based
• Plant-based
By Capacity
• Chocolate
• Fruit
• Vanilla
• Others
By Packaging
• Plastic Packaging
• Paper Based Packaging
• Glass Packaging
• Metal Packaging
By Distribution Channel
• Supermarket and Hypermarket
• Convenience Stores
• Speciality Stores
• Online
• Others
The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us. we have started verifying the details obtained from secondary sources.
Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to flavored milk industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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