Consumer foodservice in South Korea recorded further growth in 2018 in terms of value, transactions and outlet numbers. The consumer foodservice industry is having difficulties, owing to an increase in the minimum wage and quickly changing consumer preferences regarding foodservice menus; however, the offer of better quality products at reasonable prices, new outlet concepts and the development of delivery channels helped consumer foodservice to show moderate growth in 2018.
Changes in South Korean consumers’ lifestyles, due to the increasing number of single-person households, is affecting consumer foodservice significantly in South Korea. Demand for simple meals, such as convenience stores’ lunch boxes and snacks, as well as demand for delivery food, is growing strongly.
Paris Baguette from SPC Group continued to lead consumer foodservice in 2018, followed by Starbucks. SPC Group opened outlets of the US burger brand Shake Shack for the first time in South Korea in 2016, and has also gained Shake Shack’s operating rights in Singapore.
Although independent foodservice grew in terms of value sales, transactions and outlet numbers in 2018, chained foodservice showed a better performance. As chained foodservice brands are mostly operated by large global brand owners, they tend to have much greater resources to open more outlets and promote their brands in South Korea.
Consumer foodservice will continue recording steady sales growth in value terms over the forecast period. The increasing number of single-person households and rising demand for delivery will, however, change the consumer foodservice landscape in South Korea.
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Discover the latest market trends and uncover sources of future market growth for the Consumer Foodservice by Location industry in South Korea with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Consumer Foodservice market research database.