South Korea Plant-Based Food Market

South Korea Plant-Based Food Market Overview:

The South Korea plant-based food market size reached USD 224.32 Million in 2024. Looking forward, the market is projected to reach USD 575.67 Million by 2033, exhibiting a growth rate (CAGR) of 11.04% during 2025-2033. The market is witnessing steady expansion driven by rising health awareness, growing vegan and flexitarian populations, and increasing demand for sustainable food alternatives. Consumers are shifting toward plant-based proteins, dairy substitutes, and meat alternatives, supported by innovative product launches and wider retail availability. The market is also influenced by changing lifestyles and ethical consumer choices. This evolving landscape highlights the potential for strong South Korea plant-based food market share.

South Korea Plant-Based Food Market Trends:

Innovation in Product Offerings

The plant-based food market in South Korea is experiencing a surge in innovation with companies rolling out a diverse array of alternatives to meat, dairy, and protein-rich items. These developments go beyond basic substitutes concentrating on improving taste, texture, and nutritional benefits to closely mimic traditional animal products. As a result, plant-based foods are starting to attract a wider audience beyond just niche vegan or vegetarian consumers. Rising expectations for genuine flavors and higher product quality have prompted manufacturers to embrace cutting-edge food technologies such as fermentation and plant-protein blending. Furthermore, the diversification of product categories including plant-based snacks, beverages, and ready-to-cook meals is enhancing consumer options. For instance, in November 2024, South Korea's KoreaBio and the Good Food Institute Asia-Pacific partnered to enhance the alternative protein sector, including plant-based options, as cultivated meat approaches market entry. The agreement focuses on research, policy coordination, and international collaboration to foster a robust domestic food ecosystem by 2025. These advancements are playing a critical role in fueling South Korea plant-based food market growth, making the industry increasingly competitive and consumer-focused.

Retail and Foodservice Expansion

The growth of retail and foodservice channels is playing a crucial role in the increasing adoption of plant-based foods in South Korea. Supermarkets, hypermarkets, and convenience stores are now allocating more shelf space to plant-based products, enhancing their visibility and making them more accessible to a broader audience. Simultaneously, restaurant chains, cafés, and quick-service outlets are adding plant-based options to their menus in response to the growing demand for healthier and sustainable dining alternatives. In January 2024, South Korea's UNLIMEAT launched an online store for the US market to meet rising demand for its plant-based products. The brand, known for its unique offerings like plant-based Kimbap and Korean BBQ flavors, aims to enhance accessibility and engage consumers more directly with a wider product range. Such developments highlight how retail and foodservice expansion is normalizing plant-based consumption and accelerating market growth.

South Korea Plant-Based Food Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on type, source, and distribution channel.

Type Insights:

• Dairy Alternatives
• Meat Alternatives
• Egg Substitutes and Condiments
• Others

The report has provided a detailed breakup and analysis of the market based on the type. This includes diary alternatives, meat alternatives, egg substitutes and condiments, and others.

Source Insights:

• Soy
• Almond
• Wheat
• Others

A detailed breakup and analysis of the market based on the source have also been provided in the report. This includes soy, almond, wheat, and others.

Distribution Channel Insights:

• Supermarkets and Hypermarkets
• Convenience Stores
• Online Stores
• Others

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes supermarkets and hypermarkets, convenience stores, online stores, and others.

Regional Insights:

• Seoul Capital Area
• Yeongnam (Southeastern Region)
• Honam (Southwestern Region)
• Hoseo (Central Region)
• Others

The report has also provided a comprehensive analysis of all the major regional markets, which include Seoul Capital Area, Yeongnam (Southeastern Region), Honam (Southwestern Region), Hoseo (Central Region), and others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

South Korea Plant-Based Food Market News:

• In November 2024, South Korea’s Millennial Flavor Town launched a marbled Wagyu steak and shredded beef products made using traditional fermentation techniques. Debuting at the Plant Based World Europe expo, these innovative plant-based alternatives aim to replicate the flavor and texture of beef, setting the stage for entry into US and European markets.
• In April 2024, Innohas launched the world’s largest plant-based food facility in Jecheon, South Korea. The site will produce Korean-style plant-based foods under the Sunlit Foods brand, featuring items like Plant-based Bulgogi and Kimbap. This expansion aims to meet the rising global demand for plant-based cuisine.

South Korea Plant-Based Food Market Report Coverage:

Key Questions Answered in This Report:

• How has the South Korea plant-based food market performed so far and how will it perform in the coming years?
• What is the breakup of the South Korea plant-based food market on the basis of type?
• What is the breakup of the South Korea plant-based food market on the basis of source?
• What is the breakup of the South Korea plant-based food market on the basis of distribution channel?
• What is the breakup of the South Korea plant-based food market on the basis of region?
• What are the various stages in the value chain of the South Korea plant-based food market? 
• What are the key driving factors and challenges in the South Korea plant-based food market?
• What is the structure of the South Korea plant-based food market and who are the key players?
• What is the degree of competition in the South Korea plant-based food market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the South Korea plant-based food market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the South Korea plant-based food market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the South Korea plant-based food industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.