Bakery product exports hit record high on growing popularity of K-food

Seoul, Dec 24: South Korea's exports of bakery related products, such as snacks, reached a record high this year, bolstered by the growing global popularity of Korean culture and cuisine, the customs agency said on Tuesday. Outbound shipments of bakery products came to an all-time high of $440 million in the January-November period, up 8.3 per cent from the same period last year, according to data from the Korea Customs Service.

Snacks accounted for the largest share of the exports, representing 72.5 per cent of the total, reports Yonhap news agency. Notably, exports of baked goods such as pies surged 18.9 per cent on-year, driven by the appeal of unique items such as steamed buns and fish-shaped pastries. The agency attributed the growth to the rising influence of K-pop culture, which has sparked heightened global interest in the local cuisine.

By destination, the United States ranked as the top importer, accounting for 33.5 per cent of South Korea's bakery product exports, followed by China and Japan. Meanwhile, South Korea's exports of agricultural products reached a record high during the first nine months of 2024, led by strong demand for instant noodles, snacks and beverage products.

Outbound shipments of agricultural goods rose 8.3 percent on-year to come to US$7.38 billion in the January-September period, according to the Ministry of Agriculture, Food and Rural Affairs. It marked a record for any nine-month figure, it added. The growth was mainly led by strong demand for instant noodles, or "ramyeon" in Korean, as their exports jumped 29.6 percent on-year to $938 million, a record high.

Last year's total ramyeon exports were $952 million. Exports of snacks gained 15.5 per cent on-year to $560 million during the January-September period, and those of beverage products climbed 13.6 per cent to $557 million. Processed rice products, such as gimbap, cooked rice and tteokbokki, soared 41.6 per cent to $217.9 million, which already surpassed last year's total sales of $217.2 million.