Sugar imports to Korea drop amid health concerns

[Photo by Yonhap]

Sugar imports to South Korea plunged by over 10 percent in 2023 mainly due to health concerns with a surge in diabetes cases. The sharp increase in sugar prices since 2023 is also explained by the decrease in sugar consumption.

According to the Korea Customs Service on Monday, sugar imports, measured in raw sugar equivalent, dropped by 13.9 percent compared to the previous year. The decline in sugar preference led to a decrease in demand, coupled with a surge in raw material prices, prompting local food companies to reduce their imports.

The food industry is now turning its attention to “alternative sweeteners” that provide sweetness with no calories with the sharp rise in sugar prices, yet another contributing factor to the decline in sugar imports. According to customs data, the import price per kilogram of raw sugar was $638 in the first quarter of 2024 compared to $596 during the previous year. The trend indicates a continued rise in sugar prices in 2024, with the price of raw sugar at around $300 per kilogram before the Covid-19 pandemic.

[Graphics by Song Ji-yoon and Minu Kim]

Companies have also been releasing a series of health functional foods aimed at managing blood sugar levels. Daewoong Pharmaceutical, for example, will launch its own brand of blood sugar management health functional foods “Bear Health” in May, officially entering the blood sugar management product market.

Other companies including Yuhan, Shinpoong Pharm, and CTC Bio also recently released blood sugar care products. For their parts, dairy food companies such as Maeil Dairies and Namyang Dairy Products are responding to the declining birthrate and aging population trends by introducing powdered health functional foods containing substances that lower blood sugar levels.\