Executive Summary

Nov 2018
PROSPECTS
Edible oils declines as more consumers prefer not to cook at home

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 continues, but it will have a limit to growth

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.

New ingredients in oils; sales of traditional oils fall

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.

COMPETITIVE LANDSCAPE
CJ Cheiljedang maintains its lead in edible oils

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.

New product launches

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.

Players focus on various gift sets in edible 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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Overview

Discover the latest market trends and uncover sources of future market growth for the Edible Oils 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 Edible Oils industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.

The Edible Oils 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 Edible Oils 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.

Packaged Food in South Korea - Industry Overview

EXECUTIVE SUMMARY

Consumers continue to snack outside but eat meals at home
Home meal replacement products lead growth
CJ CheilJedang continues to lead packaged food, followed by Lotte Confectionery
Hypermarkets losing sales to convenience stores and internet retailers
Home meal replacement trend fuelling slight growth

FOODSERVICE

Sales to Foodservice
Growing popularity of snacking areas in cafés and bars
Changing alcohol consumption trends boosting sales
Ready meals foodservice sales boosted by HMR trend
Consumer Foodservice
Rising demand for quality boosts value sales per outlet
Booming demand for home meal replacements in convenience stores
Rising demand for coffee among busy consumers
Category Data
Table 1 Foodservice Sales of Packaged Food by Category: Volume 2013-2018
Table 2 Foodservice Sales of Packaged Food by Category: % Volume Growth 2013-2018
Table 3 Forecast Foodservice Sales of Packaged Food by Category: Volume 2018-2023
Table 4 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2018-2023

MARKET DATA

Table 5 Sales of Packaged Food by Category: Volume 2013-2018
Table 6 Sales of Packaged Food by Category: % Volume Growth 2013-2018
Table 7 Sales of Packaged Food by Category: % Value Growth 2013-2018
Table 8 GBO Company Shares of Packaged Food: % Value 2014-2018
Table 9 NBO Company Shares of Packaged Food: % Value 2014-2018
Table 10 LBN Brand Shares of Packaged Food: % Value 2015-2018
Table 11 Penetration of Private Label by Category: % Value 2013-2018
Table 12 Distribution of Packaged Food by Format: % Value 2013-2018
Table 13 Distribution of Packaged Food by Format and Category: % Value 2018
Table 14 Forecast Sales of Packaged Food by Category: Volume 2018-2023
Table 15 Forecast Sales of Packaged Food by Category: Value 2018-2023
Table 16 Forecast Sales of Packaged Food by Category: % Volume Growth 2018-2023
Table 17 Forecast Sales of Packaged Food by Category: % Value Growth 2018-2023

DEFINITIONS

SOURCES

Summary 1 Research Sources