Consumer behaviour in South Korea has changed over the past two decades as the countrys wealth and status has grown. The country is also becoming more middle class. As affluence has become more widespread, it has produced strong demand for sophisticated quality goods and imported foods, especially as domestic production has declined. This increase in the size of middle class is causing an expansion in the number of potential baby food consumers as products become more affordable to a larger group of people. Korean mothers have recently been keen to try and use imported brands such as Aptamil and Holle, which have a good reputation, although these brands are not available in the major retail outlets and have to be mostly purchased from abroad via the Internet.
- The decline in the number of births in 2013 and 2014 brought about a corresponding drop in consumption. Overall consumption rose by only 1.4% between 2008 and 2014.
- Cereals and dry meals constitute the second largest category but volumes have declined in the face of growing competition from ready-to-eat baby meals.
- Multinational representation is very low in South Korea, due mainly to the supremacy of the two leading domestic suppliers, Maeil and Namyang.
- Small-scale outlets remain important but have been losing share to the hypermarket/supermarket and convenience store sector, which accounts for the majority of baby food sales.
Baby Food in South Korea is an analytical report by Canadean which provides extensive and highly detailed current and future market trends in the South Korea market.
What else does this report offer?
- Consumption data based upon a unique combination of industry research, fieldwork, market sizing work and our in-house expertise to offer extensive data about the trends and dynamics affecting the industry.
- Detailed profile of the companies operating and new companies considering entry in the industry along with their key focus product sectors.
- Market profile of the various product sectors with the key features and developments, segmentation, per capita trends and the various manufacturers and brands.
- Overview of baby food retailing with a mention of the major retailers in the country along with the distribution channel.
- Future projections considering various trends which are likely to affect the industry.
Reasons To Buy
- Evaluate important changes in consumer behaviour and identify profitable markets and areas for product innovation.
- Analyse current and forecast behaviour trends in each category to identify the best opportunities to exploit.
- Detailed understanding of consumption by individual product categories in order to align your sales and marketing efforts with the latest trends in the market.
- Investigates which categories are performing the best and how this is changing market dynamics.
Table Of Contents Introduction
Background to the market
Production and trade
Prospects and forecasts