Executive Summary

Jul 2018
PROSPECTS
Lower investment in new product development but more innovation among popular brands

In South Korea, ice cream sales continued to see negative retail value and volume growth in 2018. The price of ice cream in retail channels is still a sensitive issue for manufacturers, distribution channels and end consumers.

The strong performance of ice cream in foodservice continually affects retail ice cream

While retail sales of ice cream show a weak performance, foodservice sales continue to record strong growth. Leading dairy manufacturers have suffered from lower sales of milk; thus, they have sought a solution with chained foodservice ice cream stores, making premium plain soft ice cream (with a high proportion of pure milk) and matching ice cream with coffee and other desserts on the menu.

Health and wellness concept reaches ice cream

To defend the strong performance of ice cream in foodservice channels, in 2018 manufacturers introduced low-calorie (reduced sugar and fat) cup-type ice cream in South Korea for the first time: for example, Binggrae Co Ltd introduced Beauty Inside containing only 70kcal per cup (110ml), and Lotte Confectionery Co Ltd introduced Light Angel ice cream containing 280kcal per 474ml, a third of the calories compared to other similar sizes of ice cream. The major target for ice cream has also changed from children to female adults, and manufacturers are expecting that a health and wellness concept will save stagnant retail ice cream sales.

COMPETITIVE LANDSCAPE
Leading player Lotte Confectionery endlessly changes its best-selling brands

Lotte Confectionery Co Ltd is expected to maintain its leading position in ice cream in 2018 with a slightly increased value share due to active innovation in product types, recalling consumers’ memories of old ice cream brands. For example, the company has swapped the red and green colours round on its Watermelon Bar.

Binggrae focuses on innovation and collaboration

Binggrae Co Ltd is expected to remain the second largest player in ice cream despite its value share decreasing slightly in 2018. The company mainly focuses on downsizing or introducing new packaging for its best-selling brands, such as Together and Excellent.

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Ice Cream and Frozen Desserts in South Korea

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Overview

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

The Ice Cream and Frozen Desserts 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:

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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

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