The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
Learn moreEuromonitor addresses your unique questions and challenges across all B2B and B2C industries and geographies through custom, tailor-made research projects, designed to your specific goals.
Learn moreFeb 2021
US$2,100Added to Cart
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
In 2020, consumer foodservice recorded an overall negative performance as three major waves of COVID-19 hit the country, which affected consumers’ overall lifestyle shifts. The South Korean Government raised social distancing levels several times throughout the year along with the rapid emergence of COVID-19 cases in Q1, Q3, and Q4 2020, which heavily affected the performance of foodservice channels that heavily depended on eat-in customers.
The South Korean authorities avoided lockdowns and instead pursued a strategy of early and aggressive mass testing, isolating anybody infected and tracking their movements to locate others who had come into contact with them. Within two weeks of its first case, the country was producing more than 100,000 test kits per day, and it had tested over 600,000 people by early May.
As relying on the status quo became riskier due to the restrictions on operational hours and the reduced number of dine-in customers as a result of COVID-19 and social distancing measures, consumer foodservice players have been searching for ways to adapt to the fast-changing environment using a range of strategies.
The performance of independent players with a premium positioning remained unshaken in 2020 as South Korean consumers increasingly treated themselves with appetising dining options as a way to cope in a year devoid of travel and limited social activities. On the other hand, small business operators targeting the mass segment have taken the steepest hit in sales as consumers reduced impulse spending, especially for away-from-home food consumption options.
The threat of COVID-19 remains a key variable to estimating the recovery of consumer foodservice heading into 2021 as the spread of the virus directly affects the operational hours and order types. While industry consensus is built on partial recovery during the second half of 2021 followed by a full recovery to pre-pandemic levels in 2022, the performance of channels which heavily rely on eat-in may fluctuate along with the trajectory of the virus.
Files are delivered directly into your account within a few minutes of purchase.
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.
Delivery: Files are delivered directly into your account within a few minutes of purchase.
Overview
Discover the latest market trends and uncover sources of future market growth for the Consumer Foodservice 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 Consumer Foodservice industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.
When you purchase this report, you also get the data and the content from these category reports in South Korea for free:
The Consumer Foodservice in South Korea market research report includes:
Our market research reports answer questions such as:
Why buy this report?
This industry report originates from Passport, our Consumer Foodservice market research database.
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.