Business · Companies · 2 hrs ago
South Korea’s Infant Formula Market Shows Signs of Recovery
South Korea’s infant formula market is recovering after years of low birth rates weakened demand.
In the first half of 2026, formula sales rose 35% at Maeil Dairies and 40% at Ildong Foodis, while Namyang Dairy’s sales increased 2.3%.
Births rose 11.1% in July compared with the same month a year earlier, and births from January to July were up 14.7% from the same period in 2025.
Companies are adding products and competing with premium formulas, including products made with goat milk; premium formula sales at E-Mart more than doubled in the first half.
Namyang’s formula exports rose 54% in the first quarter, faster than its domestic sales, which grew 4%.
Companies are seeking growth at home and abroad through differentiated products and new overseas demand.
South Korea’s infant formula market is showing signs of recovery as births and sales rise.
In the first half of 2026, formula sales increased at major manufacturers and at E-Mart.
The number of babies born in July was 11.1% higher than a year earlier, according to the National Data Agency.
Premium products, including goat-milk formula, are gaining ground as companies expand their product ranges.
Exports are also contributing to growth, with Namyang Dairy Products reporting a sharp rise in first-quarter shipments abroad.
- Who
- South Korean infant formula manufacturers and retailers, including Maeil Dairies, Ildong Foods, Namyang Dairy Products and E-Mart.
- What
- The infant formula market is showing signs of recovery, with higher sales and stronger demand for premium products.
- When
- In the first half of 2026, with birth data also reported for July 2026.
- Where
- South Korea, with exports providing an additional growth channel.
- Why
- Rising births are expanding the customer base, while demand for differentiated and premium products is also increasing.
This story does not have two clearly opposing sides.
Maeil Dairies launched Absolute Goat 100, its first new formula product in seven years.
Formula sales rose 35% at Maeil Dairies, 40% at Ildong Foods, 2.3% at Namyang Dairy Products and 8.4% at E-Mart.
South Korea recorded 24,275 births, 11.1% more than in July 2025.
Namyang Dairy Products launched First 100 Days Formula.
- Births in July 2026
- 24,275, up 11.1% year on year
- Births, January–July 2026
- 170,079, up 14.7% year on year
- Maeil Dairies formula sales
- Up 35% in the first half of 2026
- Ildong Foods formula sales
- Up 40% in the first half of 2026
- E-Mart premium formula sales
- Up 110% in the first half of 2026
- Namyang first-quarter exports
- Formula exports rose 54% year on year