35 pages, Sep 2016
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Cheese recovered from the retail value decline in 2015 by recording marginal value growth in 2016. Processed cheese continued to decline, while soft cheese helped the overall category to growth due to the strong performance of snack cheese. Soft cheese represented a retail value share of 47% in cheese in 2016 as string or cubed types soft cheese became popular among both children and adults. Dongwon F&B retained its leadership in cheese due to the strong performance of its Denmark In Pocket Cheese, the first snack cheese in South Korea. In soft cheese, snack cheese types and shredded mozzarella for pizza were the most popular.
Dongwon F&B is set to record a strong performance with its Denmark In Pocket Cheese, helping the company to reach a 24% retail value share in cheese in 2016. Its value share has increased from 21% in 2014. Retail value sales of Denmark In Pocket Cheese are set to grow by 10% in 2016, and sales have grown by 83% since 2013. The brand holds an 80% value share of string cheese products, and a 22% retail value share within the soft cheese category. The company has extended its flavours in string cheese and low-fat cheese, given its popularity as a leading snack cheese.
Cheese is expected to record a slightly positive retail value CAGR at constant 2016 prices over the forecast period. Although processed cheese is set to record a negative constant value CAGR of 2%, soft cheese is predicted to achieve a positive value CAGR of 3% at constant 2016 prices. Manufacturers will likely focus more on introducing new soft cheese products as snack cheese types, targeting not only children, but also adults.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Cheese industry in South Korea with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Cheese industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.
The Cheese in South Korea market research report includes:
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Why buy this report?
This industry report originates from Passport, our Packaged Food market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.