South Korea: Responding to price increases by developing premium products for the Japanese dairy industry

[Livestock News Reporter Min Byeong-jin] Korea, in a similar situation, needs to make efforts to improve the taste and quality of dairy products Japanese food companies are seeking a breakthrough by increasing value as dairy product price increases become inevitable. According to KATI (Agricultural and Food Export Information), among the year-on-year increase in the consumer price index as of November 2023 announced by the Ministry of Internal Affairs and Communications of Japan, the rate of increase in food prices was higher than other items, of which the price of yogurt was 151.5 yen, up 9.6% compared to the same period last year; Ice cream prices rose 9.8% to 132 yen. Accordingly, looking at recent trends in new products, the perception of price increases is changing from a ‘negative image’ to a ‘positive image’, leading people to want to buy them. In the case of plain yogurt, demand for functional, small-capacity types of about 100 to 120 g is gradually increasing despite ...