Country Profile: Savory Snacks Sector in South Korea

2017-07-20
Price :
Published : Jul-2017
No. of Pages : 113

Country Profile: Savory Snacks Sector in South Korea

Summary

South Korean Savory Snacks sector accounted for a volume share of 0.8% of the global market and 2.2% of the regional (Asia-Pacific) market in 2016. The sector was valued at ?1,049,199.7 Million (US$904.4 Million) in 2016 and is expected to grow at a CAGR of 1.9% during 2016-2021. The busy lifestyles of individuals, especially among the urban population are driving the Savory Snacks sector in South Korea. Per capita consumption stood at 1.83kg when compared to the global and Asia-Pacific levels of 2.22kg and 1.27kg, respectively, in 2016.

Processed Snacks was the largest with value sales of ?494,398.3 Million (US$426.2 Million) in 2016. It is expected to grow at a CAGR of 1.5% during the forecast period (2016-2021) while the Potato Chips market is expected to record the fastest CAGR of 2.6% during the same period.

Hypermarkets & Supermarkets was the leading distribution channel in the South Korean Savory Snacks sector, accounting for a total value share of 66.3% in 2016. It was followed by Convenience Stores and Food & Drinks Specialists with 20.1% and 8.7% value shares, respectively, in the same year. Flexible Packaging was the most commonly used pack material in the South Korean Savory Snacks sector with a volume share of 93.05% in 2016, followed by Paper & Board and Rigid Metal with 6.8% and 0.13% shares respectively.

Health & Wellness attributes such as ‘Food Minus’ and consumer benefits such as ‘Weight & Shape Management’ are the most sought after Health & Wellness claims in the South Korean Savory Snacks sector. Consumption of Savory Snacks is high among the male population. It is also high among South Korean consumers who received Tertiary education. In terms of consumption by age group, Older Young Adults and Kids & Babies together accounted for a 36.6% share in 2016.

The top five brands in the South Korean Savory Snacks sector accounted for 22.8% value share in 2016 while private label products represented 11.5% share of the value sales in the same year.

The report “Country Profile: Savory Snacks Sector in South Korea” provides insights on high growth markets to target, trends in the usage of package materials, category level distribution channel data and market share of brands.

In particular, this report provides the following –
– Market Data: Overall market value and volume data with growth analysis for 2011-2021.
– Market Coverage: Value and growth analysis for Ethnic/Traditional Snacks, Meat Snacks, Nuts and Seeds, Popcorn, Potato Chips, Pretzels and Processed Snacks with inputs on individual category share within each market and the change in their market share forecast for 2016-2021.
– Leading Players: Market share of brands and private labels, including private label growth analysis from 2011-2016.
– Distribution Data: Percentage of sales within each market through distribution channels such as Hypermarkets & Supermarkets, Convenience Stores, Food & Drinks Specialists, eRetailers and others.
– Packaging Data: Consumption breakdown for package materials and pack type in each market, in terms of percentage share of number of units sold. Package material data for Flexible Packaging, Paper & Board, Rigid Metal, and Rigid Plastics, and others; pack type data for: Bag/Sachet, Film, Stand Up Pouch, Can, Speciality container, Tray, and Jar.

Companies mentioned in this report: Donghwa, Freshvil, Keunpong Bakery, Lotte Co., Ltd., Nature`S Garden, Nonghyup Group, Nongshim, Riri Foods, Woorimeal, Chung Ha, Gobau, Kyochon, Mokwoochon Hem.

Scope

– The Savory Snacks sector in South Korea is forecast to grow at 1.9% CAGR in value terms during 2016-2021
– Per capita consumption of Processed Snacks is noticeably high in South Korea compared to global and regional levels
– Hypermarkets & Supermarkets is the largest distribution channel in the South Korean Savory Snacks sector
– Lay’s is the leading brand by value, while Lotte leads in volume terms in the South Korean Savory Snacks sector
– Flexible Packaging is the most commonly used package material in the South Korean Savory Snacks sector

Reasons to buy

– Identify high potential categories and explore further market opportunities based on detailed value and volume analysis
– Existing and new players can analyze 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
– Manufacturers can identify the opportunities to position products with H&W attributes/benefits
– Access the key and most influential consumer trends driving Savory Snacks products 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
– The packaging analysis report helps manufacturers, in identifying the most commonly used packaging materials in the sector
– Analysis on key macro-economic indicators such as GDP per capita, population (overall and breakdown by age), and consumer price index. It also covers a comparative analysis of political, economic, socio-demographic, and technological indicators (PEST) across 50 countries.

Filed in: Food & Beverage
Publisher : GlobalData
More Reports
Title Price Buy Now

Top Growth Opportunities: Confectionery in Canada

Top Growth Opportunities: Confectionery in Canada Summary Top Growth Opportunities for Confectionery in Canada provides recommended actions and detailed analysis of how to target the best growth opportunities for Confectionery producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of Confectionery markets in Canada through GlobalData's detailed and robust data, expert insight, and case studies. GlobalData's Top Growth Opportunity reports use a risk versus reward opportunity model to identify the best growth markets for Confectionery producers. Through this in-depth study of market and category dynamics, readers are able to identify key opportunities, and what they need to do in order to target them. Top Growth Opportun......
$2995

Top Growth Opportunities: Confectionery in the Netherlands

Top Growth Opportunities: Confectionery in the Netherlands Summary Top Growth Opportunities for Confectionery in the Netherlands provides an overview of the Confectionery market, analyzing market data, demographic consumption patterns within the category, and the key consumer trends driving consumption. GlobalData's proprietary Risk vs Reward Opportunity model pinpoints the best growth opportunities for Confectionery producers, suppliers and retailers by combining robust, granular data and expert insight. The report uses this framework to identify the best opportunities, analyze white spaces in the market, and outline new product development that will effectively target the most pertinent consumer need states. These are combined to offer strategic recommendations to capitalize on evolvin......
$2995

Top Growth Opportunities: Confectionery in the Poland

Top Growth Opportunities: Confectionery in the Poland Summary Top Growth Opportunities for Confectionery in Poland provides recommended actions and detailed analysis of how to target the best growth opportunities for Confectionery producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of Confectionery markets in Poland through GlobalData's detailed and robust data, expert insight, and case studies. GlobalData's Top Growth Opportunity reports use a risk versus reward opportunity model to identify the best growth markets for Confectionery producers. Through this in-depth study of market and category dynamics, readers are able to identify key opportunities, and what they need to do in order to target them. Top Growth Oppo......
$2995

Top Growth Opportunities: Confectionery in the Czech Republic

Top Growth Opportunities: Confectionery in the Czech Republic Summary Top Growth Opportunities for Confectionery in the Czech Replublic provides recommended actions and detailed analysis of how to target the best growth opportunities for Confectionery producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of Confectionery markets in the Czech Republic through GlobalData's detailed and robust data, expert insight, and case studies. GlobalData's Top Growth Opportunity reports use a risk versus reward opportunity model to identify the best growth markets for Confectionery producers. Through this in-depth study of market and category dynamics, readers are able to identify key opportunities, and what they need to do in order......
$2995

Jams, Jellies & Preserves (Syrups & Spreads) Market in Brazil – Outlook to 2023: Market Size, Growth and Forecast Analytics

Jams, Jellies & Preserves (Syrups & Spreads) Market in Brazil - Outlook to 2023: Market Size, Growth and Forecast Analytics Summary Jams, Jellies & Preserves (Syrups & Spreads) Market in Brazil - Outlook to 2023: Market Size, Growth and Forecast Analytics is a broad level market review of Jams, Jellies & Preserves market in Brazil. Jams, Jellies & Preserves - includes all jams, marmalades, spreadable jellies and preserves. Jams, Jellies & Preserves market in Brazil registered a positive compound annual growth rate (CAGR) of 7.68% during the period 2013 to 2018 with a sales value of BRL 1,640.32 Million in 2018, an increase of 4.31% over 2017. The market achieved its strongest performance in 2014, when it grew by 10.05% over its previous year and its weakest performance in 2018, when it......
$500

Jams, Jellies & Preserves (Syrups & Spreads) Market in Colombia – Outlook to 2023: Market Size, Growth and Forecast Analytics

Jams, Jellies & Preserves (Syrups & Spreads) Market in Colombia - Outlook to 2023: Market Size, Growth and Forecast Analytics Summary Jams, Jellies & Preserves (Syrups & Spreads) Market in Colombia - Outlook to 2023: Market Size, Growth and Forecast Analytics is a broad level market review of Jams, Jellies & Preserves market in Colombia. Jams, Jellies & Preserves - includes all jams, marmalades, spreadable jellies and preserves. Jams, Jellies & Preserves market in Colombia registered a positive compound annual growth rate (CAGR) of 8.07% during the period 2013 to 2018 with a sales value of COP 1,87,829.56 Million in 2018, an increase of 6.62% over 2017. The market achieved its strongest performance in 2016, when it grew by 13.36% over its previous year and its weakest performance in 20......
$500

Savory Biscuits (Bakery & Cereals) Market in Brazil – Outlook to 2023: Market Size, Growth and Forecast Analytics

Savory Biscuits (Bakery & Cereals) Market in Brazil - Outlook to 2023: Market Size, Growth and Forecast Analytics Summary Savory Biscuits (Bakery & Cereals) Market in Brazil - Outlook to 2023: Market Size, Growth and Forecast Analytics is a broad level market review of Savory Biscuits market in Brazil. Savoury Biscuits - includes all crackers, crispbreads (bread substitutes e.g. Ryvita), cheese crackers, Savory Biscuits market in Brazil registered a positive compound annual growth rate (CAGR) of 2.28% during the period 2013 to 2018 with a sales value of BRL 4,602.33 Million in 2018, an increase of 2.30% over 2017. The market achieved its strongest performance in 2014, when it grew by 3.39% over its previous year and its weakest performance in 2017, when it increased by 1.22% over 2016.......
$500

Morning Goods (Bakery & Cereals) Market in Chile – Outlook to 2023: Market Size, Growth and Forecast Analytics

Morning Goods (Bakery & Cereals) Market in Chile - Outlook to 2023: Market Size, Growth and Forecast Analytics Summary Morning Goods (Bakery & Cereals) Market in Chile - Outlook to 2023: Market Size, Growth and Forecast Analytics is a broad level market review of Morning Goods market in Chile. Morning Goods - Breakfast bakery products such as pain au raisins, croissants, bagels, muffins, crumpets etc. Includes morning pastry type products cooked in Toasters (i.e. Pop Tarts). Excludes Malt Loaf Morning Goods market in Chile registered a positive compound annual growth rate (CAGR) of 4.45% during the period 2013 to 2018 with a sales value of CLP 203,298.29 Million in 2018, an increase of 3.26% over 2017. The market achieved its strongest performance in 2014, when it grew by 9.04% over it......
$500

Gum (Confectionery) Market in France – Outlook to 2023: Market Size, Growth and Forecast Analytics

Gum (Confectionery) Market in France - Outlook to 2023: Market Size, Growth and Forecast Analytics Summary Gum (Confectionery) Market in France - Outlook to 2023: Market Size, Growth and Forecast Analytics is a broad level market review of Gum market in France. Gum - includes all bubble and chewing gum (including functional gum and sugar free gum). Also includes dental gums such as Air-Lift Dental Chewing Gum Gum market in France registered a positive compound annual growth rate (CAGR) of 1.27% during the period 2013 to 2018 with a sales value of EUR 719.51 Million in 2018, an increase of 1.77% over 2017. The market achieved its strongest performance in 2018, when it grew by 1.77% over its previous year and its weakest performance in 2016, when it increased by 0.95% over 2015. The res......
$500

Sweet Spreads (Syrups & Spreads) Market in Germany – Outlook to 2023: Market Size, Growth and Forecast Analytics

Sweet Spreads (Syrups & Spreads) Market in Germany - Outlook to 2023: Market Size, Growth and Forecast Analytics Summary Sweet Spreads (Syrups & Spreads) Market in Germany - Outlook to 2023: Market Size, Growth and Forecast Analytics is a broad level market review of Sweet Spreads market in Germany. Sweet Spreads - includes chocolate and (pea)nut spreads and fruits spreads such as lemon curd. It also includes local specialities and honey. Sweet Spreads market in Germany registered a positive compound annual growth rate (CAGR) of 2.77% during the period 2013 to 2018 with a sales value of EUR 975.55 Million in 2018, an increase of 3.61% over 2017. The market achieved its strongest performance in 2018, when it grew by 3.61% over its previous year and its weakest performance in 2017, when ......
$500
We use cookies to deliver the best possible experience on our website.
By continuing to use this site, or closing this box, you consent to our use of cookies. To learn more, visit our Privacy Policy