Executive Summary

Nov 2018
PROSPECTS
Why should spreads be soft and smooth? Breaking the perception of typical spreads

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.

Unique spreads jump into retail sweet spreads

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.

Honey is not considered a spread in South Korea, but is performing well

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.

COMPETITIVE LANDSCAPE
Bokumjari expands its brand power with new flavours of spreads

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.

Imported brands lead both chocolate spreads and peanut butter

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 boost awareness and sales of peanut butter

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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Sweet Spreads in South Korea

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Overview

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

The Spreads 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:

  • What is the market size of Spreads in South Korea?
  • What are the major brands in South Korea?
  • How are manufacturers leveraging health and wellness trends like reduced sugar or organic sourcing?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Packaged Food market research database.

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