KOREA – US pork exports to South Korea totaled 13,674 metric tons in July, marking a 16% increase from the previous year, as indicated by USDA data compiled by the US Meat Export Federation (USMEF).
The export value reached US$49.2 million, which is a 30% rise.
During the first seven months of 2024, exports to South Korea have reached 149,093 metric tons, a substantial increase of 31% year-on-year, with the total value rising 37% to US$508.9 million.
This trend suggests that pork shipments to South Korea may set new annual records this year.
Pork holds a prominent place in South Korean cuisine, making the country one of the largest pork importers globally.
In 2022, the average pork consumption per capita was approximately 28.5 kilograms, an increase of 3.3% from 2021.
The popularity of pork is evident in its representation of about 43% of total meat consumption in South Korea, with an estimated retail sales value of US$9.2 billion.
From 2019 to 2023, South Korea experienced a compound annual growth rate (CAGR) of 4.7% for pork imports.
Among the notable segments within this market is fresh pork, which recorded a CAGR of 17.8% during the same period.
Canada has consistently ranked among the top three pork suppliers to South Korea since 2019, contributing between 9% and 13% of total pork imports.
Pork is widely incorporated into South Korean dishes, including popular items like Sangyeopsal (grilled pork belly) and Jeyuk Bokkeum (spicy pork stir-fry).
The rise in single-person households has contributed to the growth of the home meal replacement market, driving a gradual increase in the use of processed meats in these products.
The market experienced a significant surge in sales, rising from US$1.28 billion in 2016 to US$1.88 billion in 2017, with packaged pork and seasoned processed meats being key components.
Approximately 90% of the meat in these products is sourced from imports.
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