South Korea Snack & Confectionary insights

K - Bakery exports at all-time high… Bread and pastries also ‘Korean Wave’ This year, up until last month, Korean bakery exports recorded the highest performance ever. According to the Korea Customs Service, bakery exports including bread, pastries, and ingredients from January to November amounted to $404 million, up 8.3% from the same period last year. This is the highest performance ever from January to November, and if this trend continues, it is expected to achieve the highest record ever on an annual basis. In particular, bread exports this year increased by 18.9% compared to last year, and products with strong Korean characteristics such as bungeoppang and steamed buns contributed to exports. Reporter Kang Eun-na-rae (rae@yna.co.kr) #Bakery #Bread #Pastries #Export For inquiries and tips from Yonhap News TV: KakaoTalk/Line jebo23 (End)

While K-foods such as ramen and kimbap have captured the taste buds of people around the world, exports of ‘K-bakery’ such as snacks and bread this year recorded the highest ever. In addition, products with unique Korean characteristics such as bungeoppang and steamed buns have been loved, proving their competitiveness in the global market. The Korea Customs Service announced on the 24th that bakery product exports from January to November this year were tallied at USD 404 million, an 8.3% increase from last year. This is the highest ever for the same period, and if the current trend continues, this year’s total exports are expected to exceed last year’s USD 405 million. By export item, ‘snacks’ (cookies, biscuits, snacks, etc.) accounted for the largest share at 72.5%. This was followed by ▲bread (cakes, pies, waffles, pastries, etc.) at 15.1% and ▲ingredients (dough, dough, premix, etc.) at 12.4%. However, all items recorded the highest export performance compared to the same period, and exports of bread such as pies and cakes increased by 18.9% this year. In particular, products with Korean characteristics such as bungeoppang and steamed buns also contributed to exports based on the popularity of Korean popular culture such as dramas, movies, and music. The number of exporting countries reached 120, and 40 countries achieved the highest export amount ever during the same period. Among them, the country to which our products were exported the most this year was the United States (33.5% of export amount), followed by China (11.3%) and Japan (9.5%). Following the United States, Canada also recorded the highest exports, and exports to North America and Europe, the home of bakeries, also increased significantly. This year, exports to Europe increased by 17.8% and North America increased by 15.4% compared to last year. The Korea Customs Service analyzed that “as the status and recognition of K-food have increased, exports are increasing as diverse Korean-style yet differentiated bakery products are gaining popularity.” Reporter Eunhye Kim ehkim@nongmin.com

South Korea's customs agency said Tuesday that the country's exports of bakery-related products hit a record high this year, buoyed by the growing global popularity of Korean culture and cuisine, according to Yonhap News Agency. Exports of bakery products hit an all-time high of $440 million in the January-November period, up 8.3 percent from the same period last year, according to the Korea Customs Service. Snacks took the lion's share of exports, accounting for 72.5 percent of the total. Notably, exports of baked goods, such as dumplings, surged 18.9 percent on-year, driven by the appeal of uniquely Korean items such as steamed buns and fish-shaped pastries. The agency attributed the growth to the growing influence of Korean pop culture, which has sparked growing global interest in local cuisine. By destination, the United States ranked first in the list of importing countries, accounting for 33.5% of South Korea's bakery product exports, followed by China (11.3%) and Japan (9.5%).