Consumer and Market Insights: Prepared Meals Market in South Korea
The Consumer and Market Insights: Prepared Meals in South Korea report published by Canadean provides in-depth information on value and volume data by category and distribution channel. Leading brands, the most opportunistic foodservice channels, and packaging material and container consumption are also covered.
South Korea’s steady economy, young population, rising disposable income makes it an ideal choice for consumer packaged goods. Prepared Meals consumption in South Korea is forecast to register growth at a CAGR of 4.7% during 2014-2019.
Frozen Ready Meals with a 36.2% share was the largest segment in the Ready Meals category in 2014 and is forecast to grow at a CAGR of 6% during 2009-2019.
The South Korean Prepared Meals market is highly competitive and is led by players such as
Dongwon Group, CJ Cheiljedang Corporation and Our Home Co., Ltd.
The Ready Meals category valued at KRW 88,412.7 million (US$ 84.0 million) accounted for the largest value consumption with 65.5% of the Prepared Meals market share in 2014.
Bag/Sachet, the most commonly used container type accounted for 40.2% of the market share in 2014.
Choosing premium products with natural ingredients is a growing trend as consumers are willing to pay more for better quality, owing to rising disposable incomes.
Increasingly busy lifestyles of South Korean consumers have resulted in fragmented meal times and rising on-the-go consumption. Smaller pack sizes and single serve packs will become more common as convenience will be key
The report on the Prepared Meals sector in South Korea provides insights on high growth categories to target, trends in the usage of packaging materials, types, closures, and information on category level distribution and brands market shares.
What else is contained?
Market data: Overall market value and volume data with growth analysis for 2014-2019
Category coverage: Value and growth analysis for Meal Kits, Pizza and Ready Meals, with inputs on individual segment share within each category and the change in their market share forecast for 2014-2019
Leading players: Market share of brands and private labels, private label growth analysis during 2011-2014
Distribution data: Value shares within each category through channels such as Hypermarkets & Supermarkets, Convenience Stores, Food & Drinks Specialists and more
Packaging data: usage of different packaging materials and containers in each category, in terms of percentage share of number of units sold. Packaging materials: flexible packaging, rigid plastics, rigid metal and others; containers: tray, tub, foil and others
Consumer level trends: Top four consumer trends which influence prepared meals consumption
Future outlook: Reviews and recommendations on how the market will shape up from 2014-2019
Reasons To Buy
Identify high potential categories and explore further market opportunities based on detailed value and volume analysis
Existing and new players can analyse key distribution channels to identify and evaluate trends and opportunities
Gain an understanding of the total competitive landscape based on detailed brand share analysis to plan effective market positioning
Access the key and most influential consumer trends driving prepared meals consumption, and how they influence consumer behavior in the market which will help determine the best audiences to target
Our team of analysts have placed a significant emphasis on changes expected in the market that will provide a clear picture of the opportunities that can be tapped over the next five years, resulting in revenue expansion
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