Executive Summary

Jun 2019
PROSPECTS
Delivery services impact full-service restaurants category

Third party online ordering/delivery services have become increasingly popular in South Korea. Categories such as burger, chicken and pizza limited-service restaurants have aggressively developed their own platforms so that customers can easily place an order, make payment and have delivery to their doorstep, thus it is very important for full-service restaurants to establish distribution through third party online ordering/delivery service partners in South Korea, in order to remain competitive.

Foodservice operators move into ready meals

More major foodservice operators are investing heavily in ready meals with their signature menus, while smaller independent operators are also entering this market through partnerships with food manufacturers. For example, Bukje Sulongtang a chain of traditional beef bone soup restaurants, with a long history in South Korea, introduced its soup in the packaged food market, which is available through online food retailers, such as Market Kurly.

Independent full-service restaurants sees higher growth in value terms

Independent full-service restaurants saw stronger growth than chained full-service restaurants in value terms in 2018, as South Korean consumers tends to prefer a unique experience when they eat out at a restaurant. Restaurants operated by well-known chefs and the authentic atmosphere of independent European restaurants have proved popular.

COMPETITIVE LANDSCAPE
CJ Foodville leads full-service restaurants although it is losing share

CJ Foodville Corp led full-service restaurants in 2018, with the company owning a variety of brands, such as Season’s Table and Cheil Jemyunso. CJ Foodville has been developing and promoting new menus in its various brands to meet consumers’ diversified preferences, but it has lost value share in full-service restaurants, as a number of new players have entered the category, making it much more competitive.

CJ Foodville focusing more on the local market

CJ Foodville closed its Japanese and Singaporean businesses in 2018, and is thus expected to focus more on its operations in South Korea and Southeast Asia. Its shift away from its previous strategy of seeking to enter overseas markets might help the company bolster its position in South Korea.

Born Korea Co Ltd introduces more new brands

Due in large part to the popularity of its CEO, Baek Jong-won, the brands operated by Born Korea Co Ltd saw growth in 2018. Born Korean Co Ltd has several leading brands in the full-service restaurants category, such as Saemaul Sikang and HongKong BanJeom, and continues to establish new brands offering reasonably priced food to attract more consumers.

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Full-Service Restaurants in South Korea

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Overview

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

The Full-Service Restaurants in South Korea market research report includes:

  • Analysis of key supply-side and demand trends
  • 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 Full-Service Restaurants in South Korea?
  • What are the major brands in South Korea?
  • What cuisine type (Latin American, Asian, North American etc.) is most popular in full-service restaurants in South Korea?
  • How prevalent is casual dining in South Korea and how is this category expected to grow over the next five years?
  • How fragmented is the full-service restaurant industry in South Korea?

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 Consumer Foodservice market research database.

Full-Service Restaurants in South Korea - Category analysis

HEADLINES

PROSPECTS

Delivery services impact full-service restaurants category
Foodservice operators move into ready meals
Independent full-service restaurants sees higher growth in value terms

COMPETITIVE LANDSCAPE

CJ Foodville leads full-service restaurants although it is losing share
CJ Foodville focusing more on the local market
Born Korea Co Ltd introduces more new brands

CATEGORY DATA

Table 1 Full-Service Restaurants by Category: Units/Outlets 2013-2018
Table 2 Sales in Full-Service Restaurants by Category: Number of Transactions 2013-2018
Table 3 Sales in Full-Service Restaurants by Category: Foodservice Value 2013-2018
Table 4 Full-Service Restaurants by Category: % Units/Outlets Growth 2013-2018
Table 5 Sales in Full-Service Restaurants by Category: % Transaction Growth 2013-2018
Table 6 Sales in Full-Service Restaurants by Category: % Foodservice Value Growth 2013-2018
Table 7 GBO Company Shares in Chained Full-Service Restaurants: % Foodservice Value 2014-2018
Table 8 GBN Brand Shares in Chained Full-Service Restaurants: % Foodservice Value 2015-2018
Table 9 Forecast Full-Service Restaurants by Category: Units/Outlets 2018-2023
Table 10 Forecast Sales in Full-Service Restaurants by Category: Number of Transactions 2018-2023
Table 11 Forecast Sales in Full-Service Restaurants by Category: Foodservice Value 2018-2023
Table 12 Forecast Full-Service Res taurants by Category: % Units/Outlets Growth 2018-2023
Table 13 Forecast Sales in Full-Service Restaurants by Category: % Transaction Growth 2018-2023
Table 14 Forecast Sales in Full-Service Restaurants by Category: % Foodservice Value Growth 2018-2023

Consumer Foodservice in South Korea - Industry Overview

EXECUTIVE SUMMARY

Consumer foodservice shows continued sales growth in 2018
Consumer lifestyle changes influence consumer foodservice
Consumer foodservice leader SPC Group continues to lead in value terms
Chained consumer foodservice outperforms independents
Consumer foodservice is predicted to show positive growth

MARKET DATA

Table 15 Units, Transactions and Value Sales in Consumer Foodservice 2013-2018
Table 16 Units, Transactions and Value Sales in Consumer Foodservice: % Growth 2013-2018
Table 17 Consumer Foodservice by Independent vs Chained by Type: Units/Outlets 2018
Table 18 Consumer Foodservice by Independent vs Chained: % Foodservice Value 2013-2018
Table 19 Sales in Consumer Foodservice by Eat-In vs Delivery and To-Go: % Foodservice Value 2013-2018
Table 20 Sales in Consumer Foodservice by Food vs Drink Split: % Foodservice Value 2013-2018
Table 21 Sales in Consumer Foodservice by Food vs Drink Split by Type: % Foodservice Value 2018
Table 22 Sales in Consumer Foodservice by Online/Offline Ordering: % Foodservice Value 2013-2018
Table 23 Sales in Consumer Foodservice by Location: % Foodservice Value 2013-2018
Table 24 GBO Company Shares in Chained Consumer Foodservice: % Foodservice Value 2014-2018
Table 25 GBN Brand Shares in Chained Consumer Foodservice: % Foodservice Value 2015-2018
Table 26 GBN Brand Shares in Chained Consumer Foodservice: Units/Outlets 2018
Table 27 Forecast Units, Transactions and Value Sales in Consumer Foodservice 2018-2023
Table 28 Forecast Units, Transactions and Value Sales in Consumer Foodservice: % Growth 2018-2023

SOURCES

Summary 1 Research Sources