The import of bread products has increased by 192% over the past five years
The Ministry of Agriculture, Food and Rural Affairs and The Korea Agro-Fisheries and Food Trade Corporation published the report “2018 Processed Foods Market Status Report for the bakery market”.
Bread exports fell 12.6 percent ($ 271 million in 2017 vs $ 310.1 million in 2013), while imports increased 192.0 percent to $ 55.8 million from $ 19.11 million during the same period.
With the rapid increase in bread consumption per capita, bakery sales increased by 49.6% for 5 years, Bread produced by finished products increased by 36.8%. After the Korea-Vietnam FTA came into effect in 2015, imports of Vietnamese products from Vietnamese confectionery companies have increased. Imports from Italy have also increased 23 times over the last five years. This is attributed to the increase in imports of branded products that are recognized as health foods in Italy and the introduction of famous cake brands.