Country Report

Butter and Margarine in

Butter and Spreads in South Korea

Oct 2020

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

2020 IMPACT

Baking-at-home trend during the COVID-19 pandemic positively impacts butter sales

Butter sales spiked during the social distancing period in the COVID-19 pandemic. With people following stay-at-home guidelines and remaining inside, South Korean consumers were missing their visits to cafés and bakeries, and instead turned to making cakes and desserts at home.

Import butter doing well thanks to South Koreans’ search for natural products

The popularity of imported butter has continued on its positive growth trajectory in 2020, in line with increasing awareness of healthy dietary patterns, fuelled by the COVID-19 outbreak, while growth in margarine and spreads has continued to slow. In South Korea, butter products can be classified according to milk fat content: pure and light butter.

Noticeable but negligible channel shift due to COVID-19

The COVID-19 pandemic resulted in some changes to the main sales channels in butter and spreads. A surge in the use of online grocery platforms was noticed in the early pandemic stage, as with other grocery items, as people became reluctant to visit physical stores due to the fear of infection.

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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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Butter and Spreads in South Korea - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Baking-at-home trend during the COVID-19 pandemic positively impacts butter sales

Import butter doing well thanks to South Koreans’ search for natural products

Noticeable but negligible channel shift due to COVID-19

RECOVERY AND OPPORTUNITIES

Strong demand for butter is likely to continue to be seen after the pandemic

Wider product ranges and expanding distribution will drive further growth of imported butter

CATEGORY DATA

Table 1 Sales of Butter and Spreads by Category: Volume 2015-2020
Table 2 Sales of Butter and Spreads by Category: Value 2015-2020
Table 3 Sales of Butter and Spreads by Category: % Volume Growth 2015-2020
Table 4 Sales of Butter and Spreads by Category: % Value Growth 2015-2020
Table 5 NBO Company Shares of Butter and Spreads: % Value 2016-2020
Table 6 LBN Brand Shares of Butter and Spreads: % Value 2017-2020
Table 7 Distribution of Butter and Spreads by Format: % Value 2015-2020
Table 8 Forecast Sales of Butter and Spreads by Category: Volume 2020-2025
Table 9 Forecast Sales of Butter and Spreads by Category: Value 2020-2025
Table 10 Forecast Sales of Butter and Spreads by Category: % Volume Growth 2020-2025
Table 11 Forecast Sales of Butter and Spreads by Category: % Value Growth 2020-2025

Packaged Food in South Korea - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on packaged food

COVID-19 country impact

Foodservice players and retailers alike embrace online operations

Retailing shift

Foodservice vs retail split

What next for packaged food?

FOODSERVICE

Sales to Foodservice

Footfall remains down as consumers doubt safety of dining in
Operating restrictions cause sharp decline in sales to foodservice
Pizza popularity allows cheese sales to breathe, while milk demand remains fresh

Consumer Foodservice

Unavoidable losses incurred despite outlets remaining open
School closures strongly dampen foodservice performance in convenience stores
Mobile app proliferation facilitates surge in demand for home delivery

Category Data

Chart 1 Packaged Food Value Sales Growth Scenarios: 2018-2025
Chart 2 Packaged Food Impact of Drivers on Value Sales: 2017-2025
Table 12 Foodservice Sales of Packaged Food by Category: Volume 2015-2020
Table 13 Foodservice Sales of Packaged Food by Category: % Volume Growth 2015-2020
Table 14 Forecast Foodservice Sales of Packaged Food by Category: Volume 2020-2025
Table 15 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2020-2025

MARKET DATA

Table 16 Sales of Packaged Food by Category: Volume 2015-2020
Table 17 Sales of Packaged Food by Category: Value 2015-2020
Table 18 Sales of Packaged Food by Category: % Volume Growth 2015-2020
Table 19 Sales of Packaged Food by Category: % Value Growth 2015-2020
Table 20 GBO Company Shares of Packaged Food: % Value 2016-2020
Table 21 NBO Company Shares of Packaged Food: % Value 2016-2020
Table 22 LBN Brand Shares of Packaged Food: % Value 2017-2020
Table 23 Penetration of Private Label by Category: % Value 2015-2020
Table 24 Distribution of Packaged Food by Format: % Value 2015-2020
Table 25 Distribution of Packaged Food by Format and Category: % Value 2020
Table 26 Forecast Sales of Packaged Food by Category: Volume 2020-2025
Table 27 Forecast Sales of Packaged Food by Category: Value 2020-2025
Table 28 Forecast Sales of Packaged Food by Category: % Volume Growth 2020-2025
Table 29 Forecast Sales of Packaged Food by Category: % Value Growth 2020-2025

Megatrends

Country Report

Butter and Spreads in South Korea

New Report Guarantee

Executive Summary

New Report Guarantee

2020 IMPACT

Baking-at-home trend during the COVID-19 pandemic positively impacts butter sales

Import butter doing well thanks to South Koreans’ search for natural products

Noticeable but negligible channel shift due to COVID-19

Overview

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Samples

Overview

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Table of Contents

Butter and Spreads in South Korea - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Baking-at-home trend during the COVID-19 pandemic positively impacts butter sales

Import butter doing well thanks to South Koreans’ search for natural products

Noticeable but negligible channel shift due to COVID-19

RECOVERY AND OPPORTUNITIES

Strong demand for butter is likely to continue to be seen after the pandemic

Wider product ranges and expanding distribution will drive further growth of imported butter

CATEGORY DATA

Packaged Food in South Korea - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on packaged food

COVID-19 country impact

Foodservice players and retailers alike embrace online operations

Retailing shift

Foodservice vs retail split

What next for packaged food?

FOODSERVICE

Sales to Foodservice

Consumer Foodservice

Category Data

MARKET DATA

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

DISCLAIMER

SOURCES

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