After a year of slight decline, overall street stalls/kiosks succeeded in rebounding to current value growth in 2021. However, the performances were different at category level, with growth for chained street stalls/kiosks and decline for independent street stalls/kiosks.
After only launching in 2018, Egg Drop achieved double-digit value growth and increased another place in the ranking in 2021, which followed an even stronger increase and a rise of two places in 2020, thanks to expanding its outlet network. This was despite the impact of the pandemic, when the operations of many consumer foodservice outlets were restricted due to government regulations.
Myung Rang Inc (Myungrang Hot Dog) managed to avoid a significant downturn during the pandemic, despite the nature of its grab-and-go snack, through developing new menus in line with surging delivery orders. For instance, the company launched a package box for delivery orders, costing around KRW12,000, which contains three different hot dogs from the representative street food menu, Tteok-bokki, targeting single- or two-person households.
Street stalls/kiosks was less affected than many other consumer foodservice channels during the forecast period. It is also expected to recover quickly as soon as the threat of COVID-19 eases in South Korea, as the main reason for the drop in sales in 2020 was the significant decline in foot traffic in business and shopping districts, alongside the inconvenience of outside consumption due to wearing a face mask.
In the forecast period, the growing presence of limited-service restaurants in accessible areas may threaten sales of light meal options from street stalls/kiosks, such as toast and rice burgers. The proportion of one-person households in South Korea continues to grow, amidst a delay in marriage and rapid ageing.
From a long-term perspective, South Korean consumers’ interest in self-care and healthy lifestyles will remain a threat to growth in street stalls/kiosks, as most menus contain high-calorie food offerings. The emergence of new players such as Egg Drop has shown that nutritious light meals are increasingly preferred over traditional deep-fried street food, suggesting opportunities for new players considering entering the channel.
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Street Stalls/Kiosks
Small, sometimes mobile, foodservice providers characterised by a limited product offering and by low prices. Includes street stalls, street hawkers and foodservice kiosks where food is prepared in some way and served through a hatch or over a display counter to take away. Also includes kiosks and carts located externally or internally eg in shopping malls etc. As a rule, street stalls/kiosks outlets tend to be smaller than 100% home delivery/takeaway outlets, while menus are more limited, often (though certainly not always) with a greater emphasis on snack items, rather than full meals.
See All of Our DefinitionsThis report originates from Passport, our Street Stalls/Kiosks research and analysis database.
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