'Healthy Pleasure' Boosts Domestic Food Industry 'Soars'.. Production Amount 114 trillion 825.2 billion won, 5.8%↑ in One Year

[Financial News] Last year's domestic food industry production performance totaled 114 trillion 825.2 billion won, showing a 5.8% increase over one year. The spread of health trends led to a noticeable increase in the production of sugar-free food and livestock products for diet-conscious consumers. Export performance grew by 10% to 7.25915 billion dollars (approximately 10.0147 trillion won).
The Food and Drug Safety Administration and the Food Safety Information Service announced on the 29th that last year's domestic food industry production performance (production amount) was 114 trillion 825.2 billion won, a 5.8% increase compared to the previous year. Production performance refers to the amount calculated in units of 1,000 won of the manufacturing cost of products produced during the business period.
Last year's food industry production performance was 4.5% of the domestic gross production (GDP) of 2,549 trillion 120.7 billion won. Compared to the domestic manufacturing industry's total production (GDP) of 684 trillion 599.2 billion won, it accounted for 16.8%.
Looking at the food industry production performance by industry, food and food additives accounted for 74 trillion 292 billion won (64.7%), the most. Among them, the most produced items were instant consumption and convenience food (5 trillion 885.9 billion won), sauces (4 trillion 955.5 billion won), and bread (3 trillion 752.7 billion won) in order.
Next, livestock products accounted for 37 trillion 771.4 billion won (32.9%), and health functional foods accounted for 2 trillion 761.8 billion won (2.4%), etc.
The expansion of value consumption that pursues health and pleasure simultaneously led to an increase in the development and production of products reflecting health-related trends such as healthy pleasure and well-aging. This reflects the increased interest of consumers in health and quality of life and changes in consumption tendencies throughout the Korean food industry.
The number of sugar-free product production reports increased more than twice in one year to 590 items, and the production amount increased by 20.1% to 572.6 billion won. As the culture of consuming healthy food spread through social media, the production of plant-based raw material products also recorded 69.1 billion won, showing a rapid growth of about five times.
Livestock production performance was 37 trillion 771.4 billion won, accounting for 32.9% of the total food production performance. Compared to the previous year, it increased by 5.5%.
There were 10 companies with food industry production performance exceeding 1 trillion won. These include 9 food manufacturing and processing companies and 1 livestock processing company (dairy processing company). Compared to last year, one food manufacturing and processing company decreased.
CJ CheilJedang (2 trillion 844 billion won) ranked first for the second consecutive year. It was followed by Nongshim (2 trillion 376.6 billion won), Lotte Chilsung Beverage (2 trillion 246.1 billion won), Ottogi (1 trillion 650.3 billion won), Lotte Wellfood (1 trillion 502.8 billion won), HiteJinro (1 trillion 498.8 billion won), Seoul Milk Cooperative (1 trillion 262.7 billion won), Samyang Foods (1 trillion 169.7 billion won), Daesang (1 trillion 96.4 billion won) in order.
Last year's export performance increased by 10% to 7.25915 billion dollars compared to the previous year. The most exported item was ramen (fried noodles), which increased by 17.6% to 1.18632 billion dollars compared to the previous year. Instant consumption and convenience food followed with 787.17 million dollars, a 25.6% increase, and seasoned seaweed rose by 22.2% to 489.14 million dollars.
This production performance data is used as basic data for analyzing the status of the food industry field. It is also used for future product analysis and research in the food industry and government policy formulation.


ssuccu@fnnews.com Kim Seoyeon Reporter