Ornua expands in South Korea with Kerrygold launch

a2d4b489-a687-4292-b16a-ee0fd3038682articleimage.jpg

21 Nov 2017 --- Ornua has announced a major product expansion into the South Korean market with the launch of Kerrygold butter. The new product was unveiled by Minister for Agriculture, Food and the Marine, Michael Creed TD at a launch in the Hyundai Department Store Samseong-dong in the Gangnam-gu district, Seoul, during the Irish Trade Mission to South Korea and Japan. 

Kerrygold will be sold through major Korean retailers. Kerrygold dairy products, made from the milk of grass-fed cows, will bring a unique new offering to South Korean consumers. Korean consumers place a high value on the origin and quality of their food. Its dairy market is characterized by very high-quality standards.

The announcement of Kerrygold’s entry into the South Korean market is the latest step in Ornua’s growth in Asia, a key market for Irish dairy. In recent years, Ornua has introduced products in China, Singapore and Malaysia. As milk deficit regions, these countries offer significant potential as a route to market for Irish dairy exports. 

Welcoming the announcement, Minister for Agriculture, Food and the Marine, Michael Creed TD said: “I am delighted to see the continuing expansion of Irish dairy produce into the Asian market. The launch of Kerrygold in South Korea establishes another important route to market for Irish dairy. I have confidence that in the near future, South Korea will become an important market for Kerrygold butter and cheese. As we prepare for a post Brexit environment, it is critical that we build these new markets for premium Irish dairy products.”

Commenting on the launch John Jordan, CEO Ornua EMEA & Asia said: “Today marks Ornua’s entry into the South Korean market and is an important milestone in the continuation of our expansion into the key Asian market. Opening new routes to market, such as South Korea, is a central pillar of Ornua’s strategy to develop Kerrygold from a butter brand into a €1bn global dairy brand. Today’s announcement is also an key step in further diversifying our customer base, a particularly important consideration for Irish dairy farming in the current political environment.”

Kerrygold reported record annual retail sales of €900 million in 2016. Ornua’s ambition is to move Kerrygold from being a world-class butter brand to an instantly recognizable €1 billion global dairy brand in the coming years. 2016 saw the successful launch of Kerrygold Yogurts in Germany, Kerrygold Spreadable in the UK and the continued roll-out of Kerrygold Irish Cream Liqueur across Europe and the US.

South Korea is the 11th largest economy in the world, with a GDP of €1.2 trillion and a growth rate of 3.3%. The country has a population of over 51 million and is heavily urbanized, with over 82% of the population living in cities. Consumption of dairy produce is rising fast in South Korea, as the economy mirrors trends in other neighboring countries. Agriculture accounts for just 2.2% of GDP. South Korea currently imports 150,000mt of cheese and butter.

To contact our editorial team please email us at editorial@cnsmedia.com

Ornua

Collapse

Ornua Ingredients is responsible for the procurement of Irish dairy and non-dairy products and for the sale of dairy ingredients to food manufacturers and foodservice customers. The business is also responsible for management of volatility through de-risking and trading strategies.

Headquartered in Ireland, Ornua Ingredients is supported by plants in Saudi Arabia, Spain, the UK, the US and by in-market teams in the Middle East and Africa region. Ornua Ingredients' extensive product range, excellent customer service, product development expertise and technical support ensures it delivers solutions to support its customers' success.

With 50 years of R&D experience, Ornua Ingredients are constantly exploring new formulation possibilities to enhance our ingredients range via projects in their laboratories, test kitchens, pilot plants and production facilities. This is always carried out in collaboration with customers to provide cost-effective solutions to meet their functional, flavor and nutritional product requirements.

Ornua Ingredients have dedicated on-going ingredient research and development in four key areas which ensures that they can respond to application demands, provide technical support and be at the forefront of new product development.

Related Articles

Food Ingredients News

Weekly Roundup: BASF closes Bayer seeds buy, ADM strengthens oilseeds processing position

17 Aug 2018 --- In a busy week on the commodity front, BASF closed the acquisition of Bayer’s global vegetable seeds business, ADM reached an agreement to purchase certain assets of Brazil-based Algar Agro and IMCD reported positive results for the first half of 2018. Louis Dreyfus Company (LDC) published its sixth annual Sustainability Report, outlining progress towards its ambitious targets for a sustainable future.

Food Ingredients News

Cream cheese in minutes: Arla Foods Ingredients solution cuts process time

15 Aug 2018 --- Arla Foods Ingredients is set to launch one of the world’s fastest cream cheese manufacturing processes at Food Ingredients South America (São Paulo, Brazil, August 21-23, 2018). The protein solution can cut cream cheese-making process from 20 hours to just 30 minutes, according to the company.

Packaging & Technology News

Penalty! Unrecyclable plastic faces 10 percent tax increase in France

15 Aug 2018 --- A French Environment Ministry official has unveiled plans to introduce a penalty system for consumer goods packaged in unrecyclable plastic. Speaking with French newspaper Journal du Dimanche, Brune Poirson, Secretary of State for Ecological Transition, said that from 2019 products sold in unrecyclable plastic packaging would cost up to 10 percent more. Meanwhile, plastic packaging which is recyclable could cost up to 10 percent less. The introduction of the penalty system is designed to help transition France to a 100 percent plastic recyclable society by 2025.

Food Ingredients News

Tyson Foods divests pizza crust business to private equity firm

14 Aug 2018 --- Tyson Foods has reached an agreement to sell its pizza crust business, TNT Crust business (TNT), to an affiliate of private equity firm Peak Rock Capital (Peak Rock). Terms of the deal have not been disclosed. However, the two companies hope to complete the deal by September. The transaction is the seventh recent food and beverage investment for Peak Rock.

Food Ingredients News

Dairy expansion: Glanbia Nutritionals and partners invest US$470m in new Michigan facility

14 Aug 2018 --- Glanbia Nutritionals, Dairy Farmers of America and Select Milk Producers Inc. are set to build a new large-scale cheese and whey production facility in St. Johns, Michigan, US as part of a joint venture. The project is expected to be commissioned in the Q4 of 2020 and will cost approximately US$470 million.

More Articles