Fast Food in South Korea

PROSPECTS

Fast food records strong growth due to single-person households increasing

Fast food recorded strong current value growth in 2017. Due to the increasing number of single-person households in South Korea, there is growing demand for simple meals such as fast food or 100% home delivery/takeaway.

Convenience stores fast food records strongest growth in South Korea

Convenience stores fast food recorded the strongest value growth in South Korea in 2017 with double-digit figures. Outlets also witnessed double-digit growth.

Burger fast food records second fastest current value growth

Burger fast food performed well in 2017 as each operator aggressively introduced newly-developed menus and services in South Korea. Lotteria introduced many digital kiosks in its outlets, while McDonald’s also installed digital kiosks in its “Experience of the Future” outlets allowing customers to easily select, order and make payments.

COMPETITIVE LANDSCAPE

Paris Baguette leads fast food

Paris Baguette from global brand owner SPC Group led fast food in South Korea in 2017. As the leading operator in bakery products fast food in South Korea, Paris Baguette has a relatively premium brand image among competitors.

In terms of outlet numbers, convenience stores are highly ranked

Operators from convenience stores fast food ranked as the biggest players in 2017 in terms of outlet numbers. CU from BGF Retail Co Ltd, GS25 from GS Holding Corp and 7-Eleven from Seven & I Holdings Co Ltd ranked as the biggest brands.

Competition between fast food operators intensifies in 2017

Competition for greater share between fast food operators intensified in 2017, with several leaders in each category gaining ground. In bakery products fast food, Paris Baguette gained share in 2017 compared to 2016, while McDonald’s gained strong value share in burger fast food.

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