Processed Fruit and Vegetables in South Korea

PROSPECTS

Shelf stable beans maintains stagnation

Shelf stable beans includes baked beans, processed green peas and sweet red beans etc. Korean consumers are now more familiar with baked beans when enjoying brunch or English breakfast at cafés and restaurants.

Processed fruit and vegetables requires innovation to grow over the forecast period

In shelf stable fruit, sales of canned fruit show a similar pattern to sweet red beans. For ice flakes, canned fruit cocktail is considered a popular topping, but as consumers prefer to enjoy ice flakes through foodservice channels, sales of toppings through retail channels have continued to decline.

Light fryer boosts frozen potato products

Frozen potato sales continue to decline, but the rate slowed in 2018 thanks to the popularity of the light fryer. According to Euromonitor International, light fryers, included under small appliances, posted a strong double-digit CAGR in current value terms over 2013- 2018.

COMPETITIVE LANDSCAPE

Leading player, Dongwon F&B, loses position in processed fruit

Dongwon F&B maintains the leading position in both shelf stable and frozen processed fruit and vegetables. Dongwon F&B has its own processed fruit products, and the company also distributes the Dole brand.

Dole Korea is new dark horse in processed fruit

Dole Korea has ranked the second largest player in processed fruit and vegetables since 2016 thanks to its fresh cup fruits. In 2018, the company reduced the value share gap between the leading player and Dole Korea.

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