Food & Beverages

Consumer and Market Insights: Soup Market in South Korea

  • CAN326141
  • 44 Pages
  • August 2015
  • Food & Beverages
Summary
South Korea's economic freedom, led by a growing young population and investment through free trade agreements, drives the market for consumer packaged goods. The South Korean Soup market is forecast to grow at a higher rate during 2014-2019 compared to 2009-2014. The Dried Soup (mixes) category accounts for the largest value with 67.0% share in the Soup market. However, the Frozen Soup category will register the fastest growth during 2014-2019, followed by the UHT Soup category. Flexible Packaging was the preferred packaging material used in the Soup market.

Key Findings
- Steady increase in GDP per capita provides growth opportunities for the consumer packaged goods market in South Korea. The Soup market in South Korea grew at a CAGR of 4.1% during 2009-2014 and is forecast to grow at a CAGR of 5.1% during the period 2014-2019.

- The Dried Soup (mixes) category accounted for the largest value with 67.0% share in the Soup. The Dehydrated Soup, with a share of 60.0% in 2014, is the largest value segment in the Dried Soup (mixes) category.

- Hypermarkets and Supermarkets is the leading distribution channel and it accounted for 81.7% of overall Soup distribution in 2014.

- Bag/Sachet was the most commonly used container type in the Soup market and accounted for 89.0% market share in 2014.

Synopsis
The report on the Soup market in South Korea provides insights on high growth categories to target, trends in the usage of packaging materials, types and closures category level distribution data 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 the Ambient Soup, Chilled Soup, Frozen Soup, UHT Soup and Dried Soup(mixes) 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

- Distribution data: Value shares within each category through channels such as Hypermarkets and Supermarkets, Convenience Stores, Food and Drinks Specialists and more

- Packaging data: consumption breakdown for packaging materials and containers in each category, in terms of percentage share of number of units sold. Packaging material data for flexible packaging, rigid plastics, rigid metal and others; container data for: trays, tubs, foils and others.

ReasonsToBuy
- 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

- Our teams 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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