Irish dairy group Ornua has announced a major product expansion into the South Korean market with the launch of Kerrygold butter. The new product was unveiled by Michael Creed TD, Ireland’s Minister for Agriculture, Food and the Marine, 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, and the country’s dairy market is characterised by very high quality standards.

 

The latest step in Ornua’s Asian growth story

 

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, such countries offer significant potential as a route to market for Irish dairy exports.

 

“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,” advised John Jordan, CEO of Ornua for EMEA & Asia. “Today’s announcement is also a key step in further diversifying our customer base, a particularly important consideration for Irish dairy farming in the current political environment.”

 

€1bn global dairy brand ambition

 

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 recognisable €1 billion global dairy brand in the coming years. Last year also saw the successful launch of Kerrygold Yogurts in Germany, Kerrygold Spreadable in the UK and the continued rollout of Kerrygold Irish Cream Liqueur across Europe and the US.