The demand for products from food waste in Korea is expected to experience steady CAGR of 3.3% through 2033. The industry is on the verge of substantial opportunities and is anticipated to reach a valuation of USD 1,923.27 million in 2023.
Consumer preferences for products made from food waste, especially in the form of upcycled food products like snacks, beverages, and cosmetics, are growing. The products are often marketed as environmentally responsible. The demand for products from food waste in Korea is likely to secure USD 2,663.05 million valuation by 2033.
Key Insights - Highlights to Understand Emerging and Fast Growing Opportunities
| Attributes | Details |
|---|---|
| Industry Size of Products from Food Waste in Korea in 2023 | USD 1,923.27 million |
| Expected Industry Size of Products from Food Waste in Korea by 2033 | USD 2,663.05 million |
| Forecasted CAGR from 2023 to 2033 | 3.3% |
The government in Korea has been actively promoting sustainable practices and the reduction of food waste. Initiatives like the food waste recycling law have been implemented to encourage the recycling and upcycling of food waste, creating opportunities for the production of items made from food waste.
Companies in Korea are dedicating resources to research and development for creating a wide range of products from food waste, including biofuels, bioplastics, animal feed, and organic fertilizers.
The food and beverage industry in Korea is continuously evolving. Companies are exploring ways to minimize waste, potentially leading to collaborations with manufacturers of food waste products.
The establishment of value chains that transform food waste into various products, such as bio-based chemicals, materials, and energy, is a promising trend that can lead to diverse revenue streams.
Citrus peels and pulps are nutrient-rich and contain valuable compounds like antioxidants, vitamins, and dietary fiber. The properties make them suitable for the production of functional foods and dietary supplements, which are increasingly popular among health-conscious consumers.
| Products from Food Waste in Korea based on Source | Citrus |
|---|---|
| Share in % in 2023 | 8.0% |
By source, the citrus segment is expected to account for a share of 8.0% in 2023. The food and beverage industry in Korea is continuously looking for innovative and natural ingredients to enhance the flavor and nutritional content of products. Citrus byproducts can be used in the production of juices, jams, sauces, and other food and beverage items.
Citrus extracts and oils derived from citrus waste are often used in cosmetic and personal care products for their fragrance and potential skin benefits. The demand for natural ingredients in these products is driving the use of citrus byproducts.
Based on end user, the food processing segment is expected to account for a share of 19.0% in 2023. Incorporating food waste ingredients can provide a cost-effective alternative to traditional raw materials, thereby reducing production costs for food processors.
| Products from Food Waste in Korea based on End User | Food Processing |
|---|---|
| Share in % in 2023 | 19.0% |
The regulations and initiatives focused on reducing food waste encourage the food processing industry in Korea, to explore innovative ways to utilize food waste, ensuring regulatory compliance. Food waste materials can be used to create a wide range of products, including additives, flavorings, and dietary fiber, which can enhance the nutritional profile and sensory appeal of food products.
The development of food waste-derived ingredients and additives allows food processors to create innovative and differentiated products, meeting evolving consumer demands for unique food items.
South Gyeongsang is known for its significant agricultural and fisheries sectors. The availability of agricultural waste and byproducts, as well as seafood related waste, can serve as valuable resources for the production of food waste derived products. Local government and regional organizations in South Gyeongsang may implement initiatives to promote food waste reduction, recycling, and the development of value added products from food waste.
Collaboration between food waste product manufacturers and local farmers can help reduce waste and create value added products. There may be a growing demand for products that are eco-friendly and derived from food waste, as consumers become more environmentally conscious. The province may explore waste to energy projects, including the conversion of food waste into bioenergy, which can contribute to the growth of the industry. Public awareness campaigns and educational programs promoting food waste reduction products can stimulate consumer interest in such products.
Jeju is a popular tourist destination, and businesses catering to tourists may be inclined to offer products made from food waste as a part of their sustainability initiatives. Local campaigns and education programs aimed at reducing food waste and promoting products can drive consumer demand for such items. The entrepreneurial ecosystem in Jeju may see small-scale startups focusing on food waste products, benefiting from local resources and a growing demand for sustainable goods. Hotels, restaurants, and resorts in Jeju may collaborate with food waste product manufacturers to incorporate such products into their offerings.
The competitive landscape of the products from food waste ecosystem in Korea is evolving as the industry experiences growth and innovation. The landscape encompasses a variety of players from startups and small enterprises to established corporations. The competitiveness of the industry is influenced by factors such as product offerings, industry positioning, technological innovation, and regional collaborations.
Recent Developments Observed in Products from Food Waste in Korea
| Attribute | Details |
|---|---|
| Estimated Industry Size in 2023 | USD 1,923.27 million |
| Projected Industry Size by 2033 | USD 2,663.05 million |
| Anticipated CAGR from 2023 to 2033 | 3.3% CAGR |
| Historical Analysis of Demand for Products from Food Waste in Korea | 2018 to 2022 |
| Demand Forecast for Products from Food Waste in Korea | 2023 to 2033 |
| Report Coverage | Industry Size, Industry Trends, Analysis of key factors influencing Products from Food Waste adoption in Korea, Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Manufacturers in Korea |
| Key Provinces Analyzed while Studying Opportunities in Products from Food Waste in Korea | South Gyeongsang, North Jeolla, South Jeolla, Jeju |
| Key Companies Profiled | CJ Group; Samsung C&T; Hyundai Green Food; Lotte Group; SK Group; Hanwha Group; LG Group; Doosan Corporation; POSCO; KIFST; KEITI; KAIST |
Table 1: Industry Analysis and Outlook Value (US$ Million) Forecast by Region, 2018 to 2033
Table 2: Industry Analysis and Outlook Volume (MT) Forecast by Region, 2018 to 2033
Table 3: Industry Analysis and Outlook Value (US$ Million) Forecast by Source, 2018 to 2033
Table 4: Industry Analysis and Outlook Volume (MT) Forecast by Source, 2018 to 2033
Table 5: Industry Analysis and Outlook Value (US$ Million) Forecast by Application, 2018 to 2033
Table 6: Industry Analysis and Outlook Volume (MT) Forecast by Application, 2018 to 2033
Table 7: South Gyeongsang Industry Analysis and Outlook Value (US$ Million) Forecast by Source, 2018 to 2033
Table 8: South Gyeongsang Industry Analysis and Outlook Volume (MT) Forecast by Source, 2018 to 2033
Table 9: South Gyeongsang Industry Analysis and Outlook Value (US$ Million) Forecast by Application, 2018 to 2033
Table 10: South Gyeongsang Industry Analysis and Outlook Volume (MT) Forecast by Application, 2018 to 2033
Table 11: North Jeolla Industry Analysis and Outlook Value (US$ Million) Forecast by Source, 2018 to 2033
Table 12: North Jeolla Industry Analysis and Outlook Volume (MT) Forecast by Source, 2018 to 2033
Table 13: North Jeolla Industry Analysis and Outlook Value (US$ Million) Forecast by Application, 2018 to 2033
Table 14: North Jeolla Industry Analysis and Outlook Volume (MT) Forecast by Application, 2018 to 2033
Table 15: South Jeolla Industry Analysis and Outlook Value (US$ Million) Forecast by Source, 2018 to 2033
Table 16: South Jeolla Industry Analysis and Outlook Volume (MT) Forecast by Source, 2018 to 2033
Table 17: South Jeolla Industry Analysis and Outlook Value (US$ Million) Forecast by Application, 2018 to 2033
Table 18: South Jeolla Industry Analysis and Outlook Volume (MT) Forecast by Application, 2018 to 2033
Table 19: Jeju Industry Analysis and Outlook Value (US$ Million) Forecast by Source, 2018 to 2033
Table 20: Jeju Industry Analysis and Outlook Volume (MT) Forecast by Source, 2018 to 2033
Table 21: Jeju Industry Analysis and Outlook Value (US$ Million) Forecast by Application, 2018 to 2033
Table 22: Jeju Industry Analysis and Outlook Volume (MT) Forecast by Application, 2018 to 2033
Table 23: Rest of Industry Analysis and Outlook Value (US$ Million) Forecast by Source, 2018 to 2033
Table 24: Rest of Industry Analysis and Outlook Volume (MT) Forecast by Source, 2018 to 2033
Table 25: Rest of Industry Analysis and Outlook Value (US$ Million) Forecast by Application, 2018 to 2033
Table 26: Rest of Industry Analysis and Outlook Volume (MT) Forecast by Application, 2018 to 2033
Figure 1: Industry Analysis and Outlook Value (US$ Million) by Source, 2023 to 2033
Figure 2: Industry Analysis and Outlook Value (US$ Million) by Application, 2023 to 2033
Figure 3: Industry Analysis and Outlook Value (US$ Million) by Region, 2023 to 2033
Figure 4: Industry Analysis and Outlook Value (US$ Million) Analysis by Region, 2018 to 2033
Figure 5: Industry Analysis and Outlook Volume (MT) Analysis by Region, 2018 to 2033
Figure 6: Industry Analysis and Outlook Value Share (%) and BPS Analysis by Region, 2023 to 2033
Figure 7: Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Region, 2023 to 2033
Figure 8: Industry Analysis and Outlook Value (US$ Million) Analysis by Source, 2018 to 2033
Figure 9: Industry Analysis and Outlook Volume (MT) Analysis by Source, 2018 to 2033
Figure 10: Industry Analysis and Outlook Value Share (%) and BPS Analysis by Source, 2023 to 2033
Figure 11: Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Source, 2023 to 2033
Figure 12: Industry Analysis and Outlook Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 13: Industry Analysis and Outlook Volume (MT) Analysis by Application, 2018 to 2033
Figure 14: Industry Analysis and Outlook Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 15: Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 16: Industry Analysis and Outlook Attractiveness by Source, 2023 to 2033
Figure 17: Industry Analysis and Outlook Attractiveness by Application, 2023 to 2033
Figure 18: Industry Analysis and Outlook Attractiveness by Region, 2023 to 2033
Figure 19: South Gyeongsang Industry Analysis and Outlook Value (US$ Million) by Source, 2023 to 2033
Figure 20: South Gyeongsang Industry Analysis and Outlook Value (US$ Million) by Application, 2023 to 2033
Figure 21: South Gyeongsang Industry Analysis and Outlook Value (US$ Million) Analysis by Source, 2018 to 2033
Figure 22: South Gyeongsang Industry Analysis and Outlook Volume (MT) Analysis by Source, 2018 to 2033
Figure 23: South Gyeongsang Industry Analysis and Outlook Value Share (%) and BPS Analysis by Source, 2023 to 2033
Figure 24: South Gyeongsang Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Source, 2023 to 2033
Figure 25: South Gyeongsang Industry Analysis and Outlook Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 26: South Gyeongsang Industry Analysis and Outlook Volume (MT) Analysis by Application, 2018 to 2033
Figure 27: South Gyeongsang Industry Analysis and Outlook Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 28: South Gyeongsang Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 29: South Gyeongsang Industry Analysis and Outlook Attractiveness by Source, 2023 to 2033
Figure 30: South Gyeongsang Industry Analysis and Outlook Attractiveness by Application, 2023 to 2033
Figure 31: North Jeolla Industry Analysis and Outlook Value (US$ Million) by Source, 2023 to 2033
Figure 32: North Jeolla Industry Analysis and Outlook Value (US$ Million) by Application, 2023 to 2033
Figure 33: North Jeolla Industry Analysis and Outlook Value (US$ Million) Analysis by Source, 2018 to 2033
Figure 34: North Jeolla Industry Analysis and Outlook Volume (MT) Analysis by Source, 2018 to 2033
Figure 35: North Jeolla Industry Analysis and Outlook Value Share (%) and BPS Analysis by Source, 2023 to 2033
Figure 36: North Jeolla Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Source, 2023 to 2033
Figure 37: North Jeolla Industry Analysis and Outlook Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 38: North Jeolla Industry Analysis and Outlook Volume (MT) Analysis by Application, 2018 to 2033
Figure 39: North Jeolla Industry Analysis and Outlook Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 40: North Jeolla Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 41: North Jeolla Industry Analysis and Outlook Attractiveness by Source, 2023 to 2033
Figure 42: North Jeolla Industry Analysis and Outlook Attractiveness by Application, 2023 to 2033
Figure 43: South Jeolla Industry Analysis and Outlook Value (US$ Million) by Source, 2023 to 2033
Figure 44: South Jeolla Industry Analysis and Outlook Value (US$ Million) by Application, 2023 to 2033
Figure 45: South Jeolla Industry Analysis and Outlook Value (US$ Million) Analysis by Source, 2018 to 2033
Figure 46: South Jeolla Industry Analysis and Outlook Volume (MT) Analysis by Source, 2018 to 2033
Figure 47: South Jeolla Industry Analysis and Outlook Value Share (%) and BPS Analysis by Source, 2023 to 2033
Figure 48: South Jeolla Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Source, 2023 to 2033
Figure 49: South Jeolla Industry Analysis and Outlook Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 50: South Jeolla Industry Analysis and Outlook Volume (MT) Analysis by Application, 2018 to 2033
Figure 51: South Jeolla Industry Analysis and Outlook Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 52: South Jeolla Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 53: South Jeolla Industry Analysis and Outlook Attractiveness by Source, 2023 to 2033
Figure 54: South Jeolla Industry Analysis and Outlook Attractiveness by Application, 2023 to 2033
Figure 55: Jeju Industry Analysis and Outlook Value (US$ Million) by Source, 2023 to 2033
Figure 56: Jeju Industry Analysis and Outlook Value (US$ Million) by Application, 2023 to 2033
Figure 57: Jeju Industry Analysis and Outlook Value (US$ Million) Analysis by Source, 2018 to 2033
Figure 58: Jeju Industry Analysis and Outlook Volume (MT) Analysis by Source, 2018 to 2033
Figure 59: Jeju Industry Analysis and Outlook Value Share (%) and BPS Analysis by Source, 2023 to 2033
Figure 60: Jeju Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Source, 2023 to 2033
Figure 61: Jeju Industry Analysis and Outlook Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 62: Jeju Industry Analysis and Outlook Volume (MT) Analysis by Application, 2018 to 2033
Figure 63: Jeju Industry Analysis and Outlook Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 64: Jeju Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 65: Jeju Industry Analysis and Outlook Attractiveness by Source, 2023 to 2033
Figure 66: Jeju Industry Analysis and Outlook Attractiveness by Application, 2023 to 2033
Figure 67: Rest of Industry Analysis and Outlook Value (US$ Million) by Source, 2023 to 2033
Figure 68: Rest of Industry Analysis and Outlook Value (US$ Million) by Application, 2023 to 2033
Figure 69: Rest of Industry Analysis and Outlook Value (US$ Million) Analysis by Source, 2018 to 2033
Figure 70: Rest of Industry Analysis and Outlook Volume (MT) Analysis by Source, 2018 to 2033
Figure 71: Rest of Industry Analysis and Outlook Value Share (%) and BPS Analysis by Source, 2023 to 2033
Figure 72: Rest of Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Source, 2023 to 2033
Figure 73: Rest of Industry Analysis and Outlook Value (US$ Million) Analysis by Application, 2018 to 2033
Figure 74: Rest of Industry Analysis and Outlook Volume (MT) Analysis by Application, 2018 to 2033
Figure 75: Rest of Industry Analysis and Outlook Value Share (%) and BPS Analysis by Application, 2023 to 2033
Figure 76: Rest of Industry Analysis and Outlook Y-o-Y Growth (%) Projections by Application, 2023 to 2033
Figure 77: Rest of Industry Analysis and Outlook Attractiveness by Source, 2023 to 2033
Figure 78: Rest of Industry Analysis and Outlook Attractiveness by Application, 2023 to 2033
The products from food waste industry in Korea is valued at USD 1,923.27 million in 2023.
The anticipated CAGR for the products from food waste landscape in Korea through 2033 is 3.3%.
Demand for products from food waste in Korea is expected to reach USD 2,663.05 million by 2033.
Citrus segment is expected to dominate the demand for products from food waste in Korea.
Food processing segment to remain a key contributor in the products from food waste ecosystem in Korea.
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Products from Food Waste Industry Analysis in Korea
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