Korean bakery exports hit record high in 2023 on strong demand in U.S., China

[Photo by Yonhap]

South Korea’s bakery exports reached an all-time high in 2023 as Korean-style baked goods gain increasing popularity across the world, including the United States and China, data showed Sunday.

According to the Korea Customs Office, Korea’s bakery exports reached a record high of 1.99 billion in 2023, more than doubling from 2013.

By country, bakery exports to the U.S. accounted for the largest at 24 percent, followed by China at 18 percent, Japan at 7 percent, the Netherlands at 4 percent, and Australia at 4 percent.

Bakery exports to the U.S., in particular, surged by 36 percent last year from a year ago, surpassing those to China.

Exports to the Netherlands and Australia also increased by 77 percent and 23 percent, respectively. Until 2022, the top export destinations were China, the U.S., Japan, Taiwan, and Vietnam in order.

Korean bakery goods, which have been popular in Asia, are now gaining in demand in other markets. The growing popularity is attributed to the diverse range of over 400 different types of products versus about 100 products in the U.S.

“With about 400 different products, we offer an experience of new baked goods and taste for local customers,” said Kim Chan-ho, chief executive officer of CJ Foodville Co., a Korean food manufacturer.

SPC Samlip Co. said that some of its major export products, including steamed buns and mini yakgwa snacks, saw sales increase by over 10 percent compared to the previous year. Particularly, exports of yakgwa products increased by over 70 percent.

Expanding through major offline distribution channels in the U.S., like Costco Wholesale Corp. and the largest Asian supermarket chain, H Mart Inc., Korean baked goods are broadening their reach to local consumers.

Corporate bakery chains like Tous Les Jours and Paris Baguette are accelerating their overseas expansion.

Tous Les Jours, operated by CJ Foodville, operates over 400 stores in various countries, including the U.S., China, Indonesia, and Vietnam. The most popular Tous Les Jours product in the U.S., according to the company, is the whipped-cream cloud cake, providing distinguished taste from locally popular butter-cream cakes.

Paris Baguette, with over 530 stores worldwide, handles over 300 items in each store. Traditional-style items such as chocolate croissants, peanut cream bread, and pain au chocolat are the most popular in U.S. stores, according to its operator SPC.