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

Packaging & Technology News

FrieslandCampina launch “innovative plant material” cardboard liter pack

21 May 2018 --- FrieslandCampina’s long-keeping chocolate milk brand, Chocomel, is set to be packaged in a new, innovative cardboard liter pack made up of 80 percent raw plant material from Tetra Pak. The move places Chocomel as the first product to be packed in the liter pack, of which wood and sugar are the parent materials.

Food Ingredients News

Valio China establishes new business units for a growing market

18 May 2018 --- Finnish dairy company, Valio has held an unveiling ceremony for its China head office in Shanghai. The newly established head office will focus on serving the growing Chinese market. Besides the Ingredient business units, Valio China has also established the new business units of Retail and Food Service. By carrying on the century-honored Finnish heritage in innovation and high quality, Valio China will stand side-by-side with Chinese consumers to create a better life together.

Food Ingredients News

Weekly Digest: Kemin launches solution for shelf-life extension, 2 Sisters appoints new CEO

18 May 2018 --- This week in business, Kemin launched a new plant extract solution found to provide a shelf-life extension in salad dressings and sauces and Lurpak announced its plans to bring of Lurpak Softest to the market, a new soft blend butter that is spreadable straight from the fridge. Meanwhile, 2 Sisters has appointed Ronald Kers as its new Chief Executive Officer, officially joining on June 1 and the Chairman of Arla Foods amba, declared that he has agreed on the sale of his dairy farm in Ösarp, Sweden. Also, the Brewers of Europe welcomes the decision by the European Court of Justice clarifying the Degrees Plato calculation, a scale widely used to determine excise duty rates for beer.

Food Ingredients News

Plant-based breakthrough: Vivera brings vegan steaks to European market

15 May 2018 --- Dutch manufacturer Vivera has announced that it, as the first company in the world, will bring 100 percent plant-based steak to the European market. Vivera has already started production and expects to produce several million pieces in 2018 alone. The company currently has an output of more than 1 million meat replacements a week, making it one of the three largest producers in Europe. Vivera sees a strong growing international demand for plant-based products and has been one of the founders of meat alternatives in Western Europe since its foundation in 1990. 

Food Ingredients News

Prolupin’s new financing to boost plant-based growth

14 May 2018 --- Plant-based protein company Prolupin has announced the first closing of a double-digit growth financing round which will enable the German-based company to reach profitability.

More Articles