The value of the domestic coffee market in 2024 reached USD 3.73 trillion. (iClickArt) Unauthorized reproduction and redistribution of this image is prohibited under copyright law.

By Koh Hyunjeong

The scale of the domestic coffee industry in 2024 reached USD 3.73 trillion.

The Ministry of Agriculture, Food and Rural Affairs and the Korea Rural Economic Institute on Aug. 11 said this in releasing their joint study on the domestic coffee industry and consumption trends. The market grew 35.6% from 2018 at an annual average clip of 5.2% over the past six years.

The market for roasted coffee including coffee beans reached KRW 1.32 trillion in 2024, growing at an average annual rate of 15.8% over the past six years. Demand for specialty coffee rose in tandem with the growth of low-price coffee chains and bulk-size products, reflecting the simultaneous expansion of premium and value-oriented consumption.

Coffee bean imports in 2024 reached 204,841 tons, up 5.8% year on year, while exports of coffee-related products rose 4.6% to USD 229.6 million. Overseas shipments of roasted coffee beans in May last year jumped 46.8% year on year.

The ministry also said it plans to incorporate food technology into coffee production and distribution processes and promote coffee as a main export under K-Food Plus, an initiative combining agri-food products (K-Food) and items from agro-industry like smart farms, farming equipment, pet food and veterinary medical products.

hjkoh@korea.kr