To attract consumers, the variety of sweet spreads is wide in South Korea. Besides typical spreads such as jam, peanut butter or chocolate spreads, Korean-style sweet spreads are popular.
Sweet spreads also gained popularity by introducing new products. In South Korea, shaved ice dessert is normally very popular during the summer, with sweet bean flour an essential ingredient in shaved ice dessert.
In South Korea, honey is not considered as a spread – it is consumed in honey tea or as a replacement for sugar. Hot honey tea is well-known to Korean consumers as a healthy drink, and a good drink as a hangover cure.
Bokumjari maintained its lead in spreads (excluding honey) in 2018, widening the gap from the second player. The company is well-known as a jam brand, but it has also gradually expanded its product line to fruit preserves and other sweet spreads, such as peanut butter, espresso spread, earl grey spread, green tea and chocolate cookies spread, etc.
Although nut- and seed-based spreads declined in current value terms in 2018, imported brands gradually expanded their value shares through more consumers becoming aware of peanut butter; for instance, the Goober brand from The JM Smucker Co launched gift sets to boost awareness. The leading brand in nut- and seed-based spreads, Skippy, is distributed by a large domestic player in overall packaged food, Daesang.
Gift sets under the Goober brand from The JM Smucker Co are distributed for special seasons such as Chinese New Year and Korean Thanksgiving Day. Premium fruit jam and preserves gift sets are common in South Korea, but peanut butter is still not as familiar amongst Korean consumers.
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This industry report originates from Passport, our Packaged Food market research database.