K-Food Newsletter

K-Vegan Industry Statistics and Trends
Date
2023-07-03 15:02:23
Hit
362
Email
gnia@nicednb.com

In 2021, the number of vegetarians in South Korea was estimated to be between 1 million and 1.5 million, including 500,000 vegans. 


In North Jeolla Province, the number of schools that have introduced vegetarian meals has increased from 20 in 2011 to 132 in 2021. Seoul, Incheon and Ulsan have also introduced optional vegetarian meals. South Korea's long tradition as an agrarian nation and its Buddhist vegetarian culture have led to the development of a wide variety of plant-based foods. The popularization and industrialization of K-Vegan is in full swing, with a wide range of choices and interest from the public seeking a healthy life.


According to the 2021 Consumer Trends Survey conducted by the Food Industry Statistics (FIS) of aT Korea Agro-Fisheries & Food Trade Corporation, 72.5% of the 542 people surveyed already know about veganism. Of these, 56% have tried veganism (eating) and 6.4% are vegan. Health is the most important reason for going vegan, with 36.7% of respondents citing dieting and 35.3% citing deteriorating health. For people in their 20s and 30s, 54.5% and 42.7%, respectively, cited dietary reasons. For those in their 40s and 60s, reversing poor physical health topped the list at 37.2% and 34.5%, respectively. When it comes to vegan foods, meat and dairy alternatives are the most popular. 41.9% of consumers have purchased meat alternatives and 40.7% have purchased dairy alternatives, while 61.8% are aware of the existence of meat alternatives and 61.3% are aware of the existence of dairy alternatives. 38.8%, 31.1% and 55.4% are partially vegetarian, vegetarian and vegan respectively. It can be seen that vegetarianism has become a topic of conversation in everyday life.


In 2025, the domestic market for plant-based "meat alternatives" is expected to reach USD 22.6 million, an increase of 29.7% from 2020. In 2020, it was valued at USD 17.4 million, up 23.7% from 2016, representing a compound annual growth rate (CAGR) of 5.6% over the period. By ingredient type, legumes such as tofu account for the largest share of the plant-based "meat substitutes" market at 62% of the total market. Vegetable/vegetable proteins such as peas and sweet potatoes account for 29.3% of the market, followed by cereals such as wheat protein at 8.7%. In 2021, there were 66 manufacturers: 7 large companies, 3 medium companies, 37 small companies, 13 startups, and 3 other schools. SMEs and startups account for 75.8% of the total. From 2018 to 2021, 612 vegan products were certified, and in 2021, 286 new products were certified, an increase of 44% from 2020 and 151% from 2019.

 

 

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