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South Korea Agriculture - Industry - Market, Share and Trends 2023-2028

Report ID:

AGIND1AKOR

|

Industry:

Summary of Agriculture

Despite the country’s limited arable land and high population density, agriculture remains a crucial sector contributing to food security, rural livelihoods, and cultural heritage.

South Korea’s government continues to support the agriculture industry through policies aimed at increasing productivity, promoting sustainable practices, and fostering innovation. Currently, the agriculture industry in South Korea has 1.10% globally.

Key sectors within South Korea’s agriculture industry include rice cultivation, horticulture, livestock farming, and fisheries. Rice is the staple food and holds cultural significance in South Korean cuisine, with efforts to maintain domestic rice production levels through subsidies and incentives.

Horticulture encompasses the cultivation of fruits, vegetables, and flowers, with a growing emphasis on high-value crops and greenhouse cultivation. Livestock farming includes pork, beef, poultry, and dairy production, with a focus on improving animal welfare and biosecurity measures.

Fisheries play a vital role in South Korea’s economy, with the country being a major producer of seafood products such as fish, shrimp, and seaweed. As per our estimates, we can say that the advanced manufacturing industry in South Korea is forecasted to be a $ 32.18 Bn Billion industry in 2029 from $ 25.58 Billion in 2023 with a CAGR of 3.90%.

Challenges facing the agriculture industry in South Korea include the aging farming population, urbanization, and competition from imported agricultural products. However, opportunities exist for innovation, diversification, and value-added products to meet changing consumer preferences and market demands.

The agriculture industry in South Korea remains resilient, adapting to evolving trends and contributing to the nation’s economic development and food sovereignty.

The sector is predominantly comprised of smallholder farmers, with traditional farming practices coexisting alongside modern agricultural techniques.

Challenges facing the agriculture industry in Indonesia include land degradation, deforestation, climate change impacts, and limited access to modern inputs and technology for smallholder farmers.

Recent Trends and Insights

One significant trend is the increasing adoption of smart farming technologies and precision agriculture practices. South Korean farmers are embracing digital tools, IoT sensors, and AI algorithms to optimize resource use, monitor crop health, and enhance productivity.

Vertical farming, hydroponics, and urban agriculture are also gaining traction, addressing land constraints and meeting urban consumers’ demand for fresh, locally-grown produce.

Another notable trend is the growing interest in sustainable and eco-friendly farming practices. South Korean consumers are becoming more conscious of environmental issues and food safety concerns, driving demand for organic products, eco-labeled goods, and ethically sourced produce.

Farmers are responding by adopting organic farming methods, reducing chemical inputs, and implementing eco-friendly packaging and distribution practices.

Furthermore, there is a shift towards value-added products and premium agricultural brands in South Korea. Farmers and food manufacturers are leveraging South Korea’s reputation for quality and safety to produce high-value products such as organic snacks, functional foods, and gourmet ingredients.

E-commerce platforms and direct-to-consumer marketing channels are facilitating the promotion and distribution of these premium products to domestic and international markets.

South Korea’s agriculture industry is witnessing increased collaboration between government, industry, and research institutions to address pressing challenges and promote innovation. Initiatives such as research grants, technology transfer programs, and farmer training workshops aim to empower stakeholders, foster knowledge exchange, and drive sustainable growth in the agriculture sector.

These trends and insights underscore the dynamic nature of South Korea’s agriculture industry, driven by innovation, sustainability, and consumer-driven demands.

Product Insights

South Korea’s agriculture industry offers a diverse range of products catering to domestic consumers and export markets. One of the key products is rice, which holds cultural significance as the staple food in South Korean cuisine. South Korea’s government supports domestic rice production through subsidies, price stabilization measures, and quality assurance programs to maintain food security and preserve agricultural heritage.

Additionally, South Korea produces a variety of fruits and vegetables, including strawberries, apples, pears, and cabbages. Greenhouse cultivation and vertical farming techniques enable year-round production of high-quality produce, meeting consumer demand for fresh and nutritious foods.

Organic farming practices are gaining popularity, driven by health-conscious consumers seeking pesticide-free and environmentally friendly products.

Furthermore, South Korea’s agriculture industry encompasses livestock products such as pork, beef, chicken, and dairy. Livestock farming practices prioritize animal welfare, biosecurity, and traceability, ensuring high-quality and safe meat and dairy products for consumers.

Specialty meats such as Hanwoo beef and Jeju black pork are prized for their taste and marbling, commanding premium prices in both domestic and international markets.

South Korea’s fisheries and aquaculture sector produces a wide variety of seafood products, including fish, shrimp, crabs, and seaweed. With a long coastline and abundant marine resources, South Korea is known for its sustainable fishing practices and high-quality seafood exports.

Traditional fermented seafood products such as kimchi and doenjang are also integral to South Korean cuisine, showcasing the country’s culinary heritage and cultural identity.

Key Companies

Some major players within this vast domain of industry are:

  • Syngenta
  • Bayer Korea Ltd
  • UPL Ltd
  • Adama Korea Co. Ltd.
  • Farm Hannong
  • Green and Seed Corporation
  • Green&Seed
  • Mbiometherapeutics Ltd
  • REAL Plant
  • NuriScience.

Country Analysis

South Korea’s agriculture industry is characterized by its unique blend of modern technology, traditional practices, and government support. Despite challenges such as limited arable land, aging farming population, and competition from imports, South Korea remains committed to ensuring food security, promoting sustainable agriculture, and fostering rural development.

The government plays a pivotal role in supporting the agriculture industry through policies, subsidies, and investments in research and development. Initiatives such as the Agricultural Promotion Act, the National Agricultural Cooperative Federation (NACF), and the Korean Food Promotion Institute (KFPI) aim to improve productivity, enhance market access, and strengthen the competitiveness of South Korean agricultural products.

Rice cultivation is central to South Korea’s agriculture sector, with the government implementing measures to maintain domestic production levels and support rice farmers. However, efforts are also underway to diversify agricultural production and promote high-value crops such as fruits, vegetables, and livestock products.

South Korea’s agriculture industry is increasingly embracing technology and innovation to overcome challenges and capitalize on opportunities. Smart farming technologies, precision agriculture practices, and digital platforms are transforming traditional farming methods, improving efficiency, and reducing environmental impact.

Despite the modernization of the agriculture sector, South Korea remains committed to preserving its agricultural heritage and cultural identity. Traditional farming practices, heritage crops, and regional specialties continue to play a vital role in South Korean agriculture, contributing to the country’s culinary diversity and cultural richness.

Market segmentation

By Type:

  • Crop Farming
  • Livestock Farming
  • Fisheries and Aquaculture
  • Horticulture

By End User:

  • Domestic Consumers
  • Export Markets
  • Food Processing Industry

By Enterprise Size:

  • Smallholder Farms
  • Medium and Large-scale Enterprises
  • Agribusiness Companies

Our Methodology

We have offered a well-founded review of South Korea’s agriculture market along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any prospects, challenges, competitors or navigating aspects is also provided. A methodical detailed regional examination is presented.

Primary Research  

Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.

We supplement our primary research with a careful examination of secondary materials such as– case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.

We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.

Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.

Quantitative Analysis

Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.

Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.

Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.

We value your investment and offer free customization with every report to fulfil your research needs.

Frequently Asked Questions

The South Korea National value of the Agriculture Industry is USD 2558 Billion in 2023 and is expected to grow to USD 3218 Billion by 2029

The CAGR of the Agriculture Industry Market in South Korea is 3.9%

Gyeongsang accounts for 20.1% of the total market share of the Agriculture Industry Market in South Korea

The key players in South Korea in Agriculture Industry Market are Nongshim, Harim Group, CJ CheilJedang, Dongwon Industries and Daesang Corporation. These industry leaders collectively contribute to shaping the landscape of this market and driving growth within the industry.

The factors driving the Agriculture Industry Market in South Korea are Farming technology, Imports, Online sales, Research and Development and Rural Development. These factors contribute to the overall growth of this industry, establishing it as a key player in the interconnected global economy.

Summary of Agriculture

Despite the country’s limited arable land and high population density, agriculture remains a crucial sector contributing to food security, rural livelihoods, and cultural heritage.

South Korea’s government continues to support the agriculture industry through policies aimed at increasing productivity, promoting sustainable practices, and fostering innovation. Currently, the agriculture industry in South Korea has 1.10% globally.

Key sectors within South Korea’s agriculture industry include rice cultivation, horticulture, livestock farming, and fisheries. Rice is the staple food and holds cultural significance in South Korean cuisine, with efforts to maintain domestic rice production levels through subsidies and incentives.

Horticulture encompasses the cultivation of fruits, vegetables, and flowers, with a growing emphasis on high-value crops and greenhouse cultivation. Livestock farming includes pork, beef, poultry, and dairy production, with a focus on improving animal welfare and biosecurity measures.

Fisheries play a vital role in South Korea’s economy, with the country being a major producer of seafood products such as fish, shrimp, and seaweed. As per our estimates, we can say that the advanced manufacturing industry in South Korea is forecasted to be a $ 32.18 Bn Billion industry in 2029 from $ 25.58 Billion in 2023 with a CAGR of 3.90%.

Challenges facing the agriculture industry in South Korea include the aging farming population, urbanization, and competition from imported agricultural products. However, opportunities exist for innovation, diversification, and value-added products to meet changing consumer preferences and market demands.

The agriculture industry in South Korea remains resilient, adapting to evolving trends and contributing to the nation’s economic development and food sovereignty.

The sector is predominantly comprised of smallholder farmers, with traditional farming practices coexisting alongside modern agricultural techniques.

Challenges facing the agriculture industry in Indonesia include land degradation, deforestation, climate change impacts, and limited access to modern inputs and technology for smallholder farmers.

Recent Trends and Insights

One significant trend is the increasing adoption of smart farming technologies and precision agriculture practices. South Korean farmers are embracing digital tools, IoT sensors, and AI algorithms to optimize resource use, monitor crop health, and enhance productivity.

Vertical farming, hydroponics, and urban agriculture are also gaining traction, addressing land constraints and meeting urban consumers’ demand for fresh, locally-grown produce.

Another notable trend is the growing interest in sustainable and eco-friendly farming practices. South Korean consumers are becoming more conscious of environmental issues and food safety concerns, driving demand for organic products, eco-labeled goods, and ethically sourced produce.

Farmers are responding by adopting organic farming methods, reducing chemical inputs, and implementing eco-friendly packaging and distribution practices.

Furthermore, there is a shift towards value-added products and premium agricultural brands in South Korea. Farmers and food manufacturers are leveraging South Korea’s reputation for quality and safety to produce high-value products such as organic snacks, functional foods, and gourmet ingredients.

E-commerce platforms and direct-to-consumer marketing channels are facilitating the promotion and distribution of these premium products to domestic and international markets.

South Korea’s agriculture industry is witnessing increased collaboration between government, industry, and research institutions to address pressing challenges and promote innovation. Initiatives such as research grants, technology transfer programs, and farmer training workshops aim to empower stakeholders, foster knowledge exchange, and drive sustainable growth in the agriculture sector.

These trends and insights underscore the dynamic nature of South Korea’s agriculture industry, driven by innovation, sustainability, and consumer-driven demands.

Product Insights

South Korea’s agriculture industry offers a diverse range of products catering to domestic consumers and export markets. One of the key products is rice, which holds cultural significance as the staple food in South Korean cuisine. South Korea’s government supports domestic rice production through subsidies, price stabilization measures, and quality assurance programs to maintain food security and preserve agricultural heritage.

Additionally, South Korea produces a variety of fruits and vegetables, including strawberries, apples, pears, and cabbages. Greenhouse cultivation and vertical farming techniques enable year-round production of high-quality produce, meeting consumer demand for fresh and nutritious foods.

Organic farming practices are gaining popularity, driven by health-conscious consumers seeking pesticide-free and environmentally friendly products.

Furthermore, South Korea’s agriculture industry encompasses livestock products such as pork, beef, chicken, and dairy. Livestock farming practices prioritize animal welfare, biosecurity, and traceability, ensuring high-quality and safe meat and dairy products for consumers.

Specialty meats such as Hanwoo beef and Jeju black pork are prized for their taste and marbling, commanding premium prices in both domestic and international markets.

South Korea’s fisheries and aquaculture sector produces a wide variety of seafood products, including fish, shrimp, crabs, and seaweed. With a long coastline and abundant marine resources, South Korea is known for its sustainable fishing practices and high-quality seafood exports.

Traditional fermented seafood products such as kimchi and doenjang are also integral to South Korean cuisine, showcasing the country’s culinary heritage and cultural identity.

Key Companies

Some major players within this vast domain of industry are:

  • Syngenta
  • Bayer Korea Ltd
  • UPL Ltd
  • Adama Korea Co. Ltd.
  • Farm Hannong
  • Green and Seed Corporation
  • Green&Seed
  • Mbiometherapeutics Ltd
  • REAL Plant
  • NuriScience.

Country Analysis

South Korea’s agriculture industry is characterized by its unique blend of modern technology, traditional practices, and government support. Despite challenges such as limited arable land, aging farming population, and competition from imports, South Korea remains committed to ensuring food security, promoting sustainable agriculture, and fostering rural development.

The government plays a pivotal role in supporting the agriculture industry through policies, subsidies, and investments in research and development. Initiatives such as the Agricultural Promotion Act, the National Agricultural Cooperative Federation (NACF), and the Korean Food Promotion Institute (KFPI) aim to improve productivity, enhance market access, and strengthen the competitiveness of South Korean agricultural products.

Rice cultivation is central to South Korea’s agriculture sector, with the government implementing measures to maintain domestic production levels and support rice farmers. However, efforts are also underway to diversify agricultural production and promote high-value crops such as fruits, vegetables, and livestock products.

South Korea’s agriculture industry is increasingly embracing technology and innovation to overcome challenges and capitalize on opportunities. Smart farming technologies, precision agriculture practices, and digital platforms are transforming traditional farming methods, improving efficiency, and reducing environmental impact.

Despite the modernization of the agriculture sector, South Korea remains committed to preserving its agricultural heritage and cultural identity. Traditional farming practices, heritage crops, and regional specialties continue to play a vital role in South Korean agriculture, contributing to the country’s culinary diversity and cultural richness.

Market segmentation

By Type:

  • Crop Farming
  • Livestock Farming
  • Fisheries and Aquaculture
  • Horticulture

By End User:

  • Domestic Consumers
  • Export Markets
  • Food Processing Industry

By Enterprise Size:

  • Smallholder Farms
  • Medium and Large-scale Enterprises
  • Agribusiness Companies

Our Methodology

We have offered a well-founded review of South Korea’s agriculture market along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any prospects, challenges, competitors or navigating aspects is also provided. A methodical detailed regional examination is presented.

Primary Research  

Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.

We supplement our primary research with a careful examination of secondary materials such as– case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.

We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.

Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.

Quantitative Analysis

Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.

Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.

Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.

We value your investment and offer free customization with every report to fulfil your research needs.

Frequently Asked Questions

The South Korea National value of the Agriculture Industry is USD 2558 Billion in 2023 and is expected to grow to USD 3218 Billion by 2029

The CAGR of the Agriculture Industry Market in South Korea is 3.9%

Gyeongsang accounts for 20.1% of the total market share of the Agriculture Industry Market in South Korea

The key players in South Korea in Agriculture Industry Market are Nongshim, Harim Group, CJ CheilJedang, Dongwon Industries and Daesang Corporation. These industry leaders collectively contribute to shaping the landscape of this market and driving growth within the industry.

The factors driving the Agriculture Industry Market in South Korea are Farming technology, Imports, Online sales, Research and Development and Rural Development. These factors contribute to the overall growth of this industry, establishing it as a key player in the interconnected global economy.

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Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

DeFi helps reduce dependency on traditional methods of transactions.

Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

Sustainable blockchain technology has immense benefit for the environment which cannot go unnoticed.

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Featured Reports

Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

DeFi helps reduce dependency on traditional methods of transactions.

Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

Sustainable blockchain technology has immense benefit for the environment which cannot go unnoticed.