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Country Report

South Korea Flag Ready Meals in South Korea

| Pages: 33

Price: US$990

About this Report

Executive Summary

TRENDS

  • Ready meals registered current retail value growth of 13% in 2015. Chilled ready meals and prepared salads categories increased by 22% and 25% in current retail value terms respectively, and shelf stable ready meals also showed double-digit growth. Only frozen pizza recorded negative current retail value growth continually as foodservice sales of pizza remained healthy. The growing popularity and range of HMR products helped the overall category to record strong current retail value and retail volume growth. Competition intensified, which encouraged manufacturers to improve product quality. Consumers are attracted to high quality packaged ready meals inspired by famous restaurants’ menus.

COMPETITIVE LANDSCAPE

  • Ottogi Foods Co remained the leading player and accounted for 18% of retail value sales in 2015. The company almost dominated curry and Jjajang sauce within shelf stable ready meals. These well established products were the first generation of ready meals in South Korea, and retained their leading position with an expanded and improved range of flavours. The company also has a solid position in UHT soup with oxtail soup and beef bone soup, considered HMR products in South Korea. Based on leading brands’ good performance in each category, Ottogi has strong brand power in HMR products in South Korea.

PROSPECTS

  • Ready meals is expected to register a retail value CAGR of 7% (constant 2015 prices) over the forecast period to reach Won304 billion in 2020. As the number of single-person household increases, ready meals is expected to show a strong performance in most of its categories. With greater variety, shelf stable ready meals is predicted to register a retail value CAGR of 6% (constant 2015 prices). Prepared salads is set to register a retail value CAGR of 15% (constant 2015 prices), while chilled ready meals is expected to register a retail value CAGR of 9% (constant 2015 prices) thanks to the ongoing popularity of HMR products. Among younger consumers, single-portion ready meals products are considered better value for money – and high quality – than purchasing food ingredients for preparation at home. In addition, the expansion of chilled ready meals will help to rapidly change consumers’ perception that ready meals are not fresh.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Ready meals 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 Ready meals industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.

The Ready meals in South Korea market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Ready meals in South Korea?
  • What are the major brands in South Korea?
  • Will retail sales suffer as economic prospects improve and consumers move back to eating out rather than eating at home?
  • How are manufacturers leveraging popular restaurant chains to help more austere consumers recreate a restaurant experience at home?
  • How much are consumers willing to pay for convenience?

Why buy this report?

  • 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

This industry report originates from Passport, our Packaged Food market research database.

Table of Contents

Ready Meals in South Korea - Category Analysis

HEADLINES

TRENDS

COMPETITIVE LANDSCAPE

PROSPECTS

CATEGORY DATA

  • Table 1 Sales of Ready Meals by Category: Volume 2010-2015
  • Table 2 Sales of Ready Meals by Category: Value 2010-2015
  • Table 3 Sales of Ready Meals by Category: % Volume Growth 2010-2015
  • Table 4 Sales of Ready Meals by Category: % Value Growth 2010-2015
  • Table 5 Sales of Chilled Ready Meals by Ethnicity: % Value 2010-2015
  • Table 6 Sales of Frozen Ready Meals by Ethnicity: % Value 2010-2015
  • Table 7 NBO Company Shares of Ready Meals: % Value 2011-2015
  • Table 8 LBN Brand Shares of Ready Meals: % Value 2012-2015
  • Table 9 Distribution of Ready Meals by Format: % Value 2010-2015
  • Table 10 Forecast Sales of Ready Meals by Category: Volume 2015-2020
  • Table 11 Forecast Sales of Ready Meals by Category: Value 2015-2020
  • Table 12 Forecast Sales of Ready Meals by Category: % Volume Growth 2015-2020
  • Table 13 Forecast Sales of Ready Meals by Category: % Value Growth 2015-2020

Ready Meals in South Korea - Company Profiles

CJ Cheiljedang Corp in Packaged Food (South Korea)

STRATEGIC DIRECTION

KEY FACTS

  • Summary 1 CJ Cheiljedang Corp: Key Facts
  • Summary 2 CJ Cheiljedang Corp: Operational Indicators

COMPETITIVE POSITIONING

  • Summary 3 CJ Cheiljedang Corp: Competitive Position 2015

Ottogi Foods Co Ltd in Packaged Food (South Korea)

STRATEGIC DIRECTION

KEY FACTS

  • Summary 4 Ottogi Foods Co Ltd: Key Facts
  • Summary 5 Ottogi Foods Co Ltd: Operational Indicators

COMPETITIVE POSITIONING

Packaged Food in South Korea - Industry Context

EXECUTIVE SUMMARY

The packaged food market records only marginal value growth in 2015

Popular TV cooking shows and the MERSC virus strongly influence packaged food

Players increasingly consider consumers’ lifestyles in their marketing strategies

Convenience stores and warehouse clubs record a better performance in 2015

The packaged food market is expected to decline slightly over the forecast period

KEY TRENDS AND DEVELOPMENTS

Sweet flavours with honey and fruit shape new product developments

TV cookery shows provide players with an excellent marketing opportunity

Famous restaurant menus find their way into packaged food

Overall packaged food retains positive value growth despite negative social issues

FOODSERVICE: KEY TRENDS AND DEVELOPMENTS

Headlines

Trends: Sales to Foodservice

Trends: Consumer Foodservice

Prospects

Category Data

  • Table 14 Foodservice Sales of Packaged Food by Category: Volume 2010-2015
  • Table 15 Foodservice Sales of Packaged Food by Category: % Volume Growth 2010-2015
  • Table 16 Forecast Foodservice Sales of Packaged Food by Category: Volume 2015-2020
  • Table 17 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2015-2020

MARKET DATA

  • Table 18 Sales of Packaged Food by Category: Volume 2010-2015
  • Table 19 Sales of Packaged Food by Category: Value 2010-2015
  • Table 20 Sales of Packaged Food by Category: % Volume Growth 2010-2015
  • Table 21 Sales of Packaged Food by Category: % Value Growth 2010-2015
  • Table 22 GBO Company Shares of Packaged Food: % Value 2011-2015
  • Table 23 NBO Company Shares of Packaged Food: % Value 2011-2015
  • Table 24 LBN Brand Shares of Packaged Food: % Value 2012-2015
  • Table 25 Penetration of Private Label by Category: % Value 2010-2015
  • Table 26 Distribution of Packaged Food by Format: % Value 2010-2015
  • Table 27 Distribution of Packaged Food by Format and Category: % Value 2015
  • Table 28 Forecast Sales of Packaged Food by Category: Volume 2015-2020
  • Table 29 Forecast Sales of Packaged Food by Category: Value 2015-2020
  • Table 30 Forecast Sales of Packaged Food by Category: % Volume Growth 2015-2020
  • Table 31 Forecast Sales of Packaged Food by Category: % Value Growth 2015-2020

SOURCES

  • Summary 6 Research Sources

Segmentation

This market research report includes the following:

  • Ready Meals
    • Shelf Stable Ready Meals
    • Chilled Lunch Kits
    • Chilled Pizza
    • Chilled Ready Meals
    • Dinner Mixes
    • Dried Ready Meals
    • Frozen Pizza
    • Frozen Ready Meals
    • Prepared Salads

Statistics Included

For each category and subcategory you will receive the following data in Excel format:

From Passport

  • Market Sizes
  • Company Shares
  • Brand Shares
  • Distribution
  • Analysis By Ethnicity
  • Pricing
  • Products by Ingredient

Market size details:

  • Retail volume
  • Retail volume % growth
  • Retail volume per capita
  • Foodservice volume
  • Foodservice volume % growth
  • Foodservice volume per capita
  • Total volume
  • Total volume % growth
  • Total volume per capita
  • Retail value retail selling price % growth
  • Retail value retail selling price local currency, USD, EUR, GBP, CHF, JPY
  • Retail value retail selling price per capita local currency, USD, EUR, GBP, CHF, JPY
  • Retail value manufacturer selling price % growth
  • Retail value manufacturer selling price local currency, USD, EUR, GBP, CHF, JPY
  • Retail value manufacturer selling price per capita local currency, USD, EUR, GBP, CHF, JPY
  • Retail volume (tonnes)
  • Retail volume (tonnes) % growth
  • Retail volume (tonnes) per capita
  • Foodservice volume (tonnes)
  • Foodservice volume (tonnes) % growth
  • Foodservice volume (tonnes) per capita
  • Total volume (tonnes)
  • Total volume (tonnes) % growth
  • Total volume (tonnes) per capita

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