Ornua has announced a major product expansion into the South Korean market with the launch of Kerrygold butter.
The product was launched in the market by Minister for Agriculture, Food and the Marine, Michael Creed during an Irish trade mission to South Korea and Japan.
Welcoming the announcement, the Minister 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.”
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, and the product will be sold through major Korean retailers. According to Ornua, Kerrygold dairy products, made from the milk of grass-fed cows, will bring a unique new offering to South Korean consumers, who place a high value on the origin and quality of their food. Its dairy market is characterised by very high-quality standards.
Commenting on the launch John Jordan, CEO Ornua EMEA & Asia said: “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 €1 billion global dairy brand. 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.”
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.
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. 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.