Cooking ingredients and meals is expected to continue its upwards growth trajectory in 2022 in both retail current value and volume terms. In value terms in particular, the growth rate is expected to be much higher than in the previous year, due to inflation resulting from issues such as global supply chain disruptions and geopolitical problems.
One of the key trends in cooking ingredients and meals in South Korea in 2022 has been convenience. Preparing every meal at home is becoming a tiresome responsibility for South Koreans, while some people are not aware of how to cook from scratch.
CJ Cheiljedang Corp is expected to maintain its leading position in cooking ingredients and meals in value terms in 2022, backed by its well-known brands across the packaged food industry, and its broad retail coverage in both offline and online channels. The company holds the leading value share in categories such as edible oils and meals and soups, and continues its product innovation, breaking from tradition and reflecting the latest consumer trends.
When it comes to retail distribution, the distribution channel that recorded the most significant growth during the pandemic was e-commerce. E-commerce is expected to increase further in 2022 across cooking ingredients and meals under the ongoing transition from offline to online, although the growth rate is not set to be as strong as during the pandemic.
While expectations of sales performances are different at a category level, overall cooking ingredients and meals is expected to continue its upwards growth trajectory over the forecast period in both retail current value and volume terms. Convenience is likely to remain the key driving force in cooking ingredients and meals; consequently, continued growth is expected for ready meals and soups, while less convenient cooking ingredients are likely to return to a declining trend or stagnate towards the end of the forecast period.
Files are delivered directly into your account soon after payment is received and any tax certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Cooking Ingredients and Meals industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Cooking Ingredients and Meals industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!