Country Report

Butter and Margarine in

Butter and Margarine in South Korea

31 pages, Aug 2017

US$990

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Executive Summary

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TRENDS

Butter and margarine increased by 4% in current value terms in 2017, which was thanks to strong current value growth of 5% for butter. Previously, South Korean consumers were not so familiar with using butter for cooking at home, with butter and margarine posting value sales of only KRW19.9 billion in current terms in 2011; however, the category began to perform strongly after TV cooking shows created strong interest during the review period. Famous chefs or celebrities introduced their recipes and enjoyed cooking and eating on air, which encouraged all consumers to try cooking at home. In the process, consumers could learn how to use butter in different ways during cooking, and as a consequence, the number of butter brands increased through retailing channels.

COMPETITIVE LANDSCAPE

Seoul Dairy Cooperative maintained its leading position with a 36% value share of butter and margarine in 2017. The company continued to perform well within margarine with its brand Seoul Milk Butter in Morning. It was positioned as butter; however, it is classified as margarine due to including grapeseed oil or soy oil. The brand accounted for a 49% value share of margarine in 2017. Meanwhile, Seoul Milk Butter recorded a 36% value share of butter in 2017.

PROSPECTS

Butter and margarine is expected to increase at a CAGR of 2% at constant 2017 prices over the forecast period. Only butter will continue to register value growth, as the popularity of the high-fat and low-carbohydrate diet continues and more consumers enjoy cooking at home; however, margarine is predicted to decline at a CAGR of 1% at constant 2017 prices over the forecast period, as consumers are aware that margarine made with vegetable oil includes trans fats. In addition, greater product diversification within the butter market will negatively affect sales of margarine over the forecast period.

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Overview

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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.

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Overview

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

The Butter and Margarine 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 Butter and Margarine in South Korea?
What are the major brands in South Korea?
Are consumers in emerging markets moving from unpackaged to packaged oils and fats?
What are the sales prospects for “healthy” cooking oils?
Will retail sales suffer as economic prospects improve and consumers move back to eating out rather than cooking at home?

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.

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