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Country Report

Butter and Margarine in

Butter and Spreads in South Korea

Aug 2019

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!

PROSPECTS

Consumers better able to differentiate between butter and margarine thanks to growing sophistication

In the past, many consumers were unable to distinguish between butter and margarine. As such, they were not brand loyal and made their purchasing decisions on the basis of price.

Imported brands create diversification and boost sales within butter

Consumers’ positive perceptions of the natural fats contained in butter and their effect on diet contributed to growth of butter consumption. People who have lived or studied abroad have begun to lead and shape trends within the butter industry in South Korea.

Growth in highly popular food delivery thanks to guarantees of product quality

There has been a growing trend in home delivery in the early morning for fresh food in South Korea among many internet retailers. Some high-end retailers such as Market Kurly are well positioned to provide such a service, which includes products such as butter.

COMPETITIVE LANDSCAPE

Whilst leading domestic players lose value share, small imported brands expand

Seoul Dairy Cooperative retained its solid lead in butter and spreads in 2019, though like the other leading players, saw its share decline slightly. In South Korea, margarine is better known as vegetable butter with industry players using the term “butter from plants”.

Consumer choices often based on brand power

As many consumers still do not know the exact differences between butter and margarine, they tend to choose products based on brand power. This benefits players such as Seoul Dairy Cooperative, which has the benefit of being the oldest and most-trusted dairy manufacturer in South Korea.

Growth in number of imported brands increases variety

Imported brands have become increasingly diverse. Some of the most recent entries include President and Isigny Sainte-Mère.

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Overview

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.

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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

HEADLINES

PROSPECTS

Consumers better able to differentiate between butter and margarine thanks to growing sophistication

Imported brands create diversification and boost sales within butter

Growth in highly popular food delivery thanks to guarantees of product quality

COMPETITIVE LANDSCAPE

Whilst leading domestic players lose value share, small imported brands expand

Consumer choices often based on brand power

Growth in number of imported brands increases variety

CATEGORY DATA

Table 1 Sales of Butter and Spreads by Category: Volume 2014-2019
Table 2 Sales of Butter and Spreads by Category: Value 2014-2019
Table 3 Sales of Butter and Spreads by Category: % Volume Growth 2014-2019
Table 4 Sales of Butter and Spreads by Category: % Value Growth 2014-2019
Table 5 NBO Company Shares of Butter and Spreads: % Value 2015-2019
Table 6 LBN Brand Shares of Butter and Spreads: % Value 2016-2019
Table 7 Distribution of Butter and Spreads by Format: % Value 2014-2019
Table 8 Forecast Sales of Butter and Spreads by Category: Volume 2019-2024
Table 9 Forecast Sales of Butter and Spreads by Category: Value 2019-2024
Table 10 Forecast Sales of Butter and Spreads by Category: % Volume Growth 2019-2024
Table 11 Forecast Sales of Butter and Spreads by Category: % Value Growth 2019-2024

Packaged Food in South Korea - Industry Overview

EXECUTIVE SUMMARY

Convenience drives value sales in 2019

Further value growth in 2019 thanks to HMR products

CJ CheilJedang continues to lead in 2019

Rise of convenience stores and internet retailing due to convenience and value for money

Convenient ready meals to lead future growth

FOODSERVICE

Sales to Foodservice

Franchise restaurants boost sales of packaged products to foodservice
Popularity of black sugar and condensed milk in 2019
More consumers purchasing frozen pizza in retailing channels

Consumer Foodservice

Expansion of home delivery services – a key development
Single-portion menus benefit chained pizza limited-service restaurants
Specialist coffee and tea shops increasingly popular, whilst bars/pubs struggle

Category Data

Table 12 Foodservice Sales of Packaged Food by Category: Volume 2014-2019
Table 13 Foodservice Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 14 Forecast Foodservice Sales of Packaged Food by Category: Volume 2019-2024
Table 15 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2019-2024

MARKET DATA

Table 16 Sales of Packaged Food by Category: Volume 2014-2019
Table 17 Sales of Packaged Food by Category: Value 2014-2019
Table 18 Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 19 Sales of Packaged Food by Category: % Value Growth 2014-2019
Table 20 GBO Company Shares of Packaged Food: % Value 2015-2019
Table 21 NBO Company Shares of Packaged Food: % Value 2015-2019
Table 22 LBN Brand Shares of Packaged Food: % Value 2016-2019
Table 23 Penetration of Private Label by Category: % Value 2014-2019
Table 24 Distribution of Packaged Food by Format: % Value 2014-2019
Table 25 Distribution of Packaged Food by Format and Category: % Value 2019
Table 26 Forecast Sales of Packaged Food by Category: Volume 2019-2024
Table 27 Forecast Sales of Packaged Food by Category: Value 2019-2024
Table 28 Forecast Sales of Packaged Food by Category: % Volume Growth 2019-2024
Table 29 Forecast Sales of Packaged Food by Category: % Value Growth 2019-2024

Megatrends

Country Report

Butter and Spreads in South Korea

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Consumers better able to differentiate between butter and margarine thanks to growing sophistication

Imported brands create diversification and boost sales within butter

Growth in highly popular food delivery thanks to guarantees of product quality

COMPETITIVE LANDSCAPE

Whilst leading domestic players lose value share, small imported brands expand

Consumer choices often based on brand power

Growth in number of imported brands increases variety

Overview

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Overview

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Table of Contents

Butter and Spreads in South Korea - Category analysis

HEADLINES

PROSPECTS

Consumers better able to differentiate between butter and margarine thanks to growing sophistication

Imported brands create diversification and boost sales within butter

Growth in highly popular food delivery thanks to guarantees of product quality

COMPETITIVE LANDSCAPE

Whilst leading domestic players lose value share, small imported brands expand

Consumer choices often based on brand power

Growth in number of imported brands increases variety

CATEGORY DATA

Packaged Food in South Korea - Industry Overview

EXECUTIVE SUMMARY

Convenience drives value sales in 2019

Further value growth in 2019 thanks to HMR products

CJ CheilJedang continues to lead in 2019

Rise of convenience stores and internet retailing due to convenience and value for money

Convenient ready meals to lead future growth

FOODSERVICE

Sales to Foodservice

Consumer Foodservice

Category Data

MARKET DATA

DEFINITIONS

SOURCES

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