Ready Meals in South Korea

December 2020
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Ready Meals in South Korea - Category analysis

KEY DATA FINDINGS

2020 IMPACT

Coronavirus extends consumer base for ready meals into family households
Blurring boundaries between restaurant and home-cooked meals
Low-calorie ready meals emerge offering a pleasing alternative during lockdown and frequent curfews

RECOVERY AND OPPORTUNITIES

High quality ready meals may substitute certain foodservice menus
New delivery systems required to retain customers in e-commerce
Dinner mixes may threaten frozen ready meals

CATEGORY DATA

Table 1 Sales of Ready Meals by Category: Volume 2015-2020 Table 2 Sales of Ready Meals by Category: Value 2015-2020 Table 3 Sales of Ready Meals by Category: % Volume Growth 2015-2020 Table 4 Sales of Ready Meals by Category: % Value Growth 2015-2020 Table 5 Sales of Chilled Ready Meals by Ethnicity: % Value 2015-2020 Table 6 Sales of Frozen Ready Meals by Ethnicity: % Value 2015-2020 Table 7 NBO Company Shares of Ready Meals: % Value 2016-2020 Table 8 LBN Brand Shares of Ready Meals: % Value 2017-2020 Table 9 Distribution of Ready Meals by Format: % Value 2015-2020 Table 10 Forecast Sales of Ready Meals by Category: Volume 2020-2025 Table 11 Forecast Sales of Ready Meals by Category: Value 2020-2025 Table 12 Forecast Sales of Ready Meals by Category: % Volume Growth 2020-2025 Table 13 Forecast Sales of Ready Meals by Category: % Value Growth 2020-2025

Packaged Food in South Korea - Industry Overview

EXECUTIVE SUMMARY

COVID-19 impact on packaged food
COVID-19 country impact
Foodservice players and retailers alike embrace online operations
Retailing shift
Foodservice vs retail split
What next for packaged food?

FOODSERVICE

Sales to Foodservice
Footfall remains down as consumers doubt safety of dining in Operating restrictions cause sharp decline in sales to foodservice Pizza popularity allows cheese sales to breathe, while milk demand remains fresh
Consumer Foodservice
Unavoidable losses incurred despite outlets remaining open School closures strongly dampen foodservice performance in convenience stores Mobile app proliferation facilitates surge in demand for home delivery
Category Data
Chart 1 Packaged Food Value Sales Growth Scenarios: 2018-2025 Chart 2 Packaged Food Impact of Drivers on Value Sales: 2017-2025 Table 14 Foodservice Sales of Packaged Food by Category: Volume 2015-2020 Table 15 Foodservice Sales of Packaged Food by Category: % Volume Growth 2015-2020 Table 16 Forecast Foodservice Sales of Packaged Food by Category: Volume 2020-2025 Table 17 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2020-2025

MARKET DATA

Table 18 Sales of Packaged Food by Category: Volume 2015-2020 Table 19 Sales of Packaged Food by Category: Value 2015-2020 Table 20 Sales of Packaged Food by Category: % Volume Growth 2015-2020 Table 21 Sales of Packaged Food by Category: % Value Growth 2015-2020 Table 22 GBO Company Shares of Packaged Food: % Value 2016-2020 Table 23 NBO Company Shares of Packaged Food: % Value 2016-2020 Table 24 LBN Brand Shares of Packaged Food: % Value 2017-2020 Table 25 Penetration of Private Label by Category: % Value 2015-2020 Table 26 Distribution of Packaged Food by Format: % Value 2015-2020 Table 27 Distribution of Packaged Food by Format and Category: % Value 2020 Table 28 Forecast Sales of Packaged Food by Category: Volume 2020-2025 Table 29 Forecast Sales of Packaged Food by Category: Value 2020-2025 Table 30 Forecast Sales of Packaged Food by Category: % Volume Growth 2020-2025 Table 31 Forecast Sales of Packaged Food by Category: % Value Growth 2020-2025

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

DISCLAIMER

SOURCES

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