The market is dominated by domestic suppliers, as imports account for 28.2% of total market size in 2023. Investments drive market demand, with investments representing 63.8% of total demand in 2023. South Korea has the seventh largest market size for machinery for food, beverage and tobacco processing regionally, with demand reaching USD885 million in 2023. Hyupjin Machinery Co Ltd is the largest company in South Korea, generating 2.8% of the industry’s total production value in 2023. The industry is fragmented, with the top five companies generating 9.2% of total production value in 2023. The total number of companies decreases in 2023, to 1,484 units. The costs of the industry increase by 2.3% in 2023, largely driven by rising B2B costs. The industry’s profitability decreases and stands at 4.9% of production value in 2023, the 12th highest regionally. The industry’s exports share decreases in 2023 to 16.6% of total production output. With production value of USD731 million, South Korea accounts for 2.3% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Machinery for Food, Beverage and Tobacco Processing in South Korea: ISIC 2925. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Machinery for Food, Beverage and Tobacco Processing in South Korea: ISIC 2925 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
This is the aggregation of general purpose machinery and special purpose machinery.
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