Korea is the second largest market in Asia for processed organic Food & Beverage and shows a significant growth potential.
The majority (60% - 70%) of organic food in Korea is imported, including 85% of the ingredients used in organic food processing.
Korean consumers are increasingly interested in the organic sector, thanks to their growing purchasing power and higher living standards.
The expected annual growth rate of the Korean market for processed organic Food & Beverage is +19% until 2020 and the market offers interesting opportunities for EU companies in the following product areas:
- Reasonably priced organic food and beverages. Studies show that consumers are willing to pay organic products 40%-50% more than non-organic ones. However, organic products currently on the market are twice as expensive as the non-organic and thus are not appealing to a large portion of consumers.
- Organic “masstige” (mass + prestige) products, e.g. premium-labelled chocolate and wines, etc.
- Processed organic food and/or organic ingredients that are of EU origin.
- Organic food for children and babies
Does your company operate in the processed organic Food & Beverage industry? Companies carrying the EU organic certification label are recognized as "certified organic" in Korea. Do not miss the opportunity to participate in a 5-day Business Mission to Seoul. If your company meets the eligibility criteria, submit your expression of interest now and complete your application by Friday, 15 July 2016.