Why U.S. Pork, Beef Sales are on the Rise in Korea
In the last 30 years, the U.S. has succeeded in positioning U.S. meat as a major supply of protein to the Korea market.
During its recent strategic planning conference in Carlsbad, Calif., U.S. Meat Export Federation (USMEF) Korea Director Jihae Yang noted that improved market access and rising incomes have helped fuel tremendous growth in red meat consumption in Korea.
Per capita beef consumption has more than tripled since 1990, reaching 13 kilograms last year. Per capita pork consumption has more than doubled to 26.6 kilograms, up from 11.8 kilograms in 1990.
Even before COVID-19, Korea was a pacesetter in sales of fresh food through e-commerce platforms and this trend has accelerated greatly during the pandemic, USMEF said in a release.
Sales of home meal replacement (HMR) products, which expand consumers' options for high-quality, in-home dining, are soaring in Korea.
“Fresh food sales through E-commerce are now estimated to be an almost $7-billion market with 67% growth in 2020 and another 30% growth this year,” Yang said in the USMEF Audio Report. “The popularity of home meal replacement (HMR) also contributed to strong sales of U.S. beef and pork in Korea, up 85% in 2020, and even grew further by 53% this year.”
Although HMR products are popular with single-person households in Korea, sales growth has been largely driven by families with children.
“The success of HMR is convenience as the consumer can cook at home with prepared ingredients. Interestingly, the main customer of HMR product are moms, not single households. Of course, single households buy HMR, but moms are buying more HMR to feed their families,” Yang said.
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