S Korea's powdered milk export to ASEAN soars
South Korea's powdered milk products have surged in popularity across Southeast Asia, with exports nearly tripling over the past decade as demand for Korean formula milk remains on the rise.
South Korea’s powdered milk products have surged in popularity across Southeast Asia. Photo courtesy of Getty Images.
According to data released by the Korea Agro-Fisheries & Food Trade Corp (aT) on February 18, powdered milk export to the 10 ASEAN members hit a record high of 44.2 billion KRW ($30.7 million) last year as compared to $10.5 million recorded in 2014.
By weight, such shipments in 2024 reached 2,465 tons, up 260% from 932 tons 10 years ago.
The biggest ASEAN market was Cambodia with a turnover of $15.6 million, a 14-fold increase in a decade.
Meanwhile, Korean powdered milk export to Vietnam has risen 1.6-fold over the past decade, reaching $15 million last year.
Lotte Wellfood, the confectionery arm of Lotte Group, has seen strong export growth, having introduced a Vietnam-specific formula product in 2019.
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