Food & Beverages

South Korean Foodservice: The Future of Foodservice in South Korea to 2016

  • CAN64027
  • 213 Pages
  • July 2012
  • Food & Beverages
Synopsis
This report provides a top-level overview and detailed market, channel, and company-specific insights into the operating environment for foodservice companies.
Scope
This report provides readers with unparalleled levels of detail and insight into the development of the foodservice sector within South Korea.

This report provides readers with in-depth data on the valuation and development of both the profit and cost sectors in the South Korean foodservice market.

This report provides details on the number of outlets, transactions, average price, foodservice sales, sales per outlet, and transactions per outlet per week, across nearly 50 sub-channels.

This report provides highly granular future forecasts and historic market data to aid market and strategic planning.

This report will help you to assess the impact of economic recession and recovery on foodservice market growth.
Summary
Why was the report written?
This report is the result of Canadeans extensive market and company research covering the South Korean foodservice industry. It provides detailed analysis of both historic and forecast foodservice industry values at channel level, analysis of the leading companies in the industry, and South Koreas business environment and landscape.South Korean Foodservice: The Future of Foodservice in South Korea to 2016 provides a top-level overview and detailed market, channel, and company-specific insights into the operating environment for foodservice companies. It is an essential tool for companies active across the South Korean foodservice value chain, and for new companies considering entering the market.

What is the current market landscape and what is changing?
In spite of the global economic crisis, the South Korean foodservice industry has been growing incessantly. Steady GDP growth, a decrease in debt, and increasing business confidence has boosted the growth of the South Korean foodservice industry.

What are the key drivers behind recent market changes?
A low unemployment rate, rapid economic development, and an increasing population of working women are creating a shift towards eating out. Additionally, growing health awareness and obesity concerns are helping to develop healthier and more nutritious eating habits.

What makes this report unique and essential to read?
South Korean Foodservice: The Future of Foodservice in South Korea to 2016 provides a top-level overview and detailed market, channel, and company-specific insights into the operating environment for foodservice companies. It is an essential tool for companies active across the South Korean foodservice value chain, and for new companies considering entering the market.
ReasonsToBuy
The South Korean economy rebounded fast after the 2009 global economic crisis. The GDP growth rate in 2009 over 2008 dropped to 0.2%, from 2.3% in 2008 over 2007. However, the economy rebounded fast and grew by 6.1% in 2010 and 4.2% in 2011 respectively. This encouraged foodservice operators to expand and invest more in various new regions of the country.

In 2010, South Korea witnessed a 31% growth in the international tourist inflow into the country. The country offers varied avenues for tourists to explore, including medical tourism, spiritual tourism, leisure tourism, and business tourism. The increasing number of tourists boosts the foodservice sales in the country.

In 2010, the median age in South Korea was 39 years and the above 65 years age group comprised 17.6% of the total population. Recently, vegan and organic food have become popular amongst the aging population, thereby influencing the menu trends in many restaurants and eating establishments.

There is no law in the South Korean foodservice industry that requires operators to disclose the calorie count of items in their menus. However, consumers and health agencies are emphasizing the need for compulsory nutrition labeling in the country.

Fast food restaurants are being seen to introduce caf formats in their regular outlets. McCaf is a service window in a regular McDonalds outlet which provides caf-style light snacks.
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