Overall, consumers in Korea are cooking at home less. Along with the availability of home meal replacement (HMR) products, including ready meals, processed meat and prepared sauces for convenience, consumers are rapidly shifting to purchasing prepared or cooked food.
Premiumisation continued in edible oils in 2018. One of the main premium oils, rapeseed oil, also saw declines from 2016, but it recorded a lower rate of decrease than other cheaper oil categories.
Other edible oils mainly includes Korean traditional oils such as sesame oil. Due to the weak performance of sesame oil, the other edible oils category saw a decline in 2018, despite also including emerging super premium cooking oils, such as coconut oil, avocado oil and grapeseed oil.
CJ Cheiljedang maintained its lead in edible oils in 2018, despite seeing a slight decline in its value share. The company gained value share in olive oil by expanding its product line with premium packaging and products with claims of special origin; however, it recorded value share declines in other vegetable oils during 2018.
CJ Cheiljedang introduced new vegetable oils (garlic ginger oil and green onion oil) which are suitable for Korean food in July 2017. The pack size of these products is only 220ml, which differentiates from the existing 900ml size in standard vegetable cooking oils.
Ottogi Foods and Sajohaepyo gained value share in edible oils during 2018. Although they did not offer completely new products, both players focused on various gift sets to offset the overall weak performance of edible oils.
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