S. Korea's coffee market estimated at 3.7 tln won in 2024: data

South Korea's coffee market was valued at an estimated 3.7 trillion won, or US$2.61 billion, in 2024, according to a study conducted by the country's agriculture ministry. The report indicated that demand for coffee products shifted from coffee mix to roasted beans over the past six years. From 2018 to 2024, sales of roasted coffee beans experienced a significant increase of 15.8 percent annually, reaching a total of 1.3 trillion won.

In contrast, processed coffee products, which include three-in-one coffee mixes, saw a decline of 0.5 percent on average, totaling 871.1 billion won during the same period.

The number of coffee shops in South Korea reached 106,452 in 2023, marking a 5.7 percent increase from the previous year. Cafes accounted for 13.4 percent of all food service establishments in 2023, up from just 9.3 percent in 2018. South Korea's coffee-related exports reached US$229.6 million in 2024, marking a 4.6 percent increase from the previous year. The top markets for these exports were Israel, accounting for 18.1 percent, followed by China at 15.4 percent and Australia with 7.1 percent.