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Country Report

South Korea Flag Spreads in South Korea

| Pages: 31

Price: US$990

About this Report

Executive Summary

TRENDS

  • The key word in food in South Korea was honey from late 2014. A potato chip snack in honey and butter flavours created a sensation, while similar sweet-flavoured products and recipes incorporating honey flooded the retail and foodservice channels. The trend boosted the demand for honey, which recorded retail current value sales growth of 3% and 5% in 2014 and 2015. The 5% increase in 2015 was the highest growth rate since 2005. Honey also performed strongly in foodservice, with a 7% increase in volume sales.

COMPETITIVE LANDSCAPE

  • Dongsuh Foods remains the leading player in spreads due to the strong performance of honey. The company, which is present only in honey in spreads, leads with an 11% share of retail value sales in 2015. The company offers the best-known type, Acacia honey, even though packaged honey does not account for a large portion of total production as many consumers purchase honey directly from farms. Many consumers have more trust in the quality of farm rather than shop bought honey. In honey, Dongsuh Foods posted a 4% increase in retail value sales in 2015 to account for a 17% share.

PROSPECTS

  • At constant 2015 prices, spreads is estimated to grow by a 2% retail value CAGR over the forecast period. Honey is predicted to see a slightly above-average CAGR, based on the continuous popularity of recipes incorporating honey. Chocolate spreads is projected to post the fastest retail value CAGR of 13% as consumers are increasingly attracted to this new type of spread. On the other hand, jams and preserves and nut and seed based spreads are suffer declines in retail value sales due to increasingly strong competition from chocolate spreads.

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Overview

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

The Spreads 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 Spreads in South Korea?
  • What are the major brands in South Korea?
  • How are manufacturers leveraging health and wellness trends like reduced sugar or organic sourcing?

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

Spreads in South Korea - Category Analysis

HEADLINES

TRENDS

COMPETITIVE LANDSCAPE

PROSPECTS

CATEGORY DATA

  • Table 1 Sales of Spreads by Category: Volume 2010-2015
  • Table 2 Sales of Spreads by Category: Value 2010-2015
  • Table 3 Sales of Spreads by Category: % Volume Growth 2010-2015
  • Table 4 Sales of Spreads by Category: % Value Growth 2010-2015
  • Table 5 Sales of Jams and Preserves by Leading Flavours: Rankings 2010-2015
  • Table 6 NBO Company Shares of Spreads: % Value 2011-2015
  • Table 7 LBN Brand Shares of Spreads: % Value 2012-2015
  • Table 8 Distribution of Spreads by Format: % Value 2010-2015
  • Table 9 Forecast Sales of Spreads by Category: Volume 2015-2020
  • Table 10 Forecast Sales of Spreads by Category: Value 2015-2020
  • Table 11 Forecast Sales of Spreads by Category: % Volume Growth 2015-2020
  • Table 12 Forecast Sales of Spreads by Category: % Value Growth 2015-2020

Spreads in South Korea - Company Profiles

Ottogi Foods Co Ltd in Packaged Food (South Korea)

STRATEGIC DIRECTION

KEY FACTS

  • Summary 1 Ottogi Foods Co Ltd: Key Facts
  • Summary 2 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 13 Foodservice Sales of Packaged Food by Category: Volume 2010-2015
  • Table 14 Foodservice Sales of Packaged Food by Category: % Volume Growth 2010-2015
  • Table 15 Forecast Foodservice Sales of Packaged Food by Category: Volume 2015-2020
  • Table 16 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2015-2020

MARKET DATA

  • Table 17 Sales of Packaged Food by Category: Volume 2010-2015
  • Table 18 Sales of Packaged Food by Category: Value 2010-2015
  • Table 19 Sales of Packaged Food by Category: % Volume Growth 2010-2015
  • Table 20 Sales of Packaged Food by Category: % Value Growth 2010-2015
  • Table 21 GBO Company Shares of Packaged Food: % Value 2011-2015
  • Table 22 NBO Company Shares of Packaged Food: % Value 2011-2015
  • Table 23 LBN Brand Shares of Packaged Food: % Value 2012-2015
  • Table 24 Penetration of Private Label by Category: % Value 2010-2015
  • Table 25 Distribution of Packaged Food by Format: % Value 2010-2015
  • Table 26 Distribution of Packaged Food by Format and Category: % Value 2015
  • Table 27 Forecast Sales of Packaged Food by Category: Volume 2015-2020
  • Table 28 Forecast Sales of Packaged Food by Category: Value 2015-2020
  • Table 29 Forecast Sales of Packaged Food by Category: % Volume Growth 2015-2020
  • Table 30 Forecast Sales of Packaged Food by Category: % Value Growth 2015-2020

SOURCES

  • Summary 3 Research Sources

Segmentation

This market research report includes the following:

  • Spreads
    • Honey
    • Chocolate Spreads
    • Jams and Preserves
    • Nut and Seed Based Spreads
    • Yeast-based Spreads

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 Flavour
  • 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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