RoK’s powdered milk export to ASEAN soars

Korean powdered milk export to Vietnam has risen 1.6-fold over the past decade, reaching 15 million USD last year. Lotte Wellfood, the confectionery arm of Lotte Group, has seen strong export growth, having introduced a Vietnam-specific formula product in 2019.

Thursday, February 20, 2025 03:46

The Republic of Korea’s powdered milk products have surged in popularity across Southeast Asia. (Photo: Getty Images)

Seoul (VNA) – The Republic of Korea (RoK)’s powdered milk products have surged in popularity across Southeast Asia, with exports nearly tripling over the past decade as demand for Korean formula remains on the rise.

According to data released by the Korea Agro-Fisheries & Food Trade Corp (aT) on February 18, powdered milk export to the ten ASEAN members hit a record high of 44.2 billion KRW (30.7 million USD) last year as compared to 10.5 million USD recorded in 2014.

By weight, such shipments in 2024 reached 2,465 tonnes, up 260% from 932 tonnes ten years ago.

The biggest ASEAN market was Cambodia with a turnover of 15.6 million USD, 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 USD last year. Lotte Wellfood, the confectionery arm of Lotte Group, has seen strong export growth, having introduced a Vietnam-specific formula product in 2019./.

VNA

#Republic of Korea #powdered milk #ASEAN countries #Lotte Wellfood #Vietnam-specific formula product Korea (RoK) ASEAN

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