In baked goods overall, artisanal bread, cake and pastries continue to show strong performance. In addition to dessert cafés and unpackaged baked goods distributed at specialist coffee shops, small bakery specialists have expanded rapidly.
Cakes takes the largest value share of baked goods thanks to chocolate coated packaged cakes produced by snack manufacturers. Individually-packed single-portion cakes have been popular not only among retail consumers, but also institutional consumers.
In South Korea, under the popular HMR (home meal replacement) trend, meal kits have become more diverse. On the other hand, dessert mixes have declined due to the popularity of meal kits.
In South Korea, Mochi Roll cake was very popular in 2018 based on an imported brand from Japan. For example, CU convenience store operated by BGF Retail distributed directly-imported Mochi Roll cakes from Japan.
Sam Lip General Foods is the largest packaged baked goods manufacturer in South Korea. The company has maintained the leading position in both packaged bread and packaged pastries since 2011 with a diverse product range.
As a leading player within packaged cakes, Orion extended its product range in 2018. The company introduced Fresh Cream Pie (Saeng Cream Pie) containing 3% British cream targeting young female consumers.
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This industry report originates from Passport, our Packaged Food market research database.