COMPETITIVE LANDSCAPE
SPC maintains its leadership despite public backlash from safety incident
While artisanal players dominate overall sales of baked goods in South Korea, SPC Samlip Co Ltd remains the leading player in South Korea’s packaged bread category. The company has retained its dominant position in packaged bread despite experiencing both a marketing high and a reputational setback within the same year.
Private label on the rise with strong value proposition
The private label products being offered by hypermarkets and convenience stores chains are emerging as one of the most serious challengers in the packaged bread space. With improved product quality, updated branding, and competitive pricing, private label players are rapidly expanding their presence in key categories especially packaged leavened bread, filled buns, and meal-style rolls.
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Overview:
Understand the latest market trends and future growth opportunities for the Baked Goods industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Baked Goods industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Baked Goods in South Korea report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Baked Goods in South Korea?
- Which are the leading brands in Baked Goods in South Korea?
- How are products distributed in Baked Goods in South Korea?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Baked Goods?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in South Korea?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Baked Goods in South Korea - Category analysis
KEY DATA FINDINGS
Baked goods evolving to meet new consumption occasions
Bread transforming from an indulgent snack to a meal replacement option
Dessert bread retains its popularity but players rebrand to meet evolving trends
Producers of baked goods may need to feed off pop culture to stand out
Clean label products and digestibility set to outpace traditional health claims
Bakery-to-go expansion of bread into foodservice and hybrid meal formats
SPC maintains its leadership despite public backlash from safety incident
Private label on the rise with strong value proposition
Artisanal bakeries and hypermarkets dominate but convenience stores are making inroads
E-commerce still lags behind despite continued growth
Staple Foods in South Korea - Industry Overview
Volume sales stagnate but opportunities exist in adding value to the market
KEY DATA FINDINGS
Volume sales stagnate while value growth is propelled by the search for healthier options
Health and sustainability on the menu as primary considerations
Rising production costs hit sweet treats
Growth expected to remain focused more on value than volume gains
Competition set to evolve through new product development and distribution strategies
Changing lifestyle behaviours expected to influence the future of staple foods
CJ Cheiljedang strengthens its leading position with its trusted product range
Nongshim and Ottogi provide stiff competition with tried and trusted products
Hypermarkets lead sales but convenience stores have become testing grounds
E-commerce continues to grow and develop
COUNTRY REPORTS DISCLAIMER
The following categories and subcategories are included:
Baked Goods
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- Packaged Flat Bread
- Unpackaged Flat Bread
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- Packaged Leavened Bread
- Unpackaged Leavened Bread
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- Packaged Cakes
- Unpackaged Cakes
- Dessert Mixes
- Frozen Baked Goods
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- Packaged Pastries
- Unpackaged Pastries
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- Sweet Pies and Tarts
- Frozen Cakes, Sweet Pies and Tarts
Baked Goods
This is the aggregation of bread, pastries, dessert mixes, frozen baked goods and cakes. Note: in most cases, baked goods from in-store bakeries are classified under unpackaged/artisanal. While many such offerings may be finished on-site, they are often prepared, then frozen or par-baked, at other locations. Such production models are very important for supermarket in-store bakeries, which are often used to drive traffic and fill stores with appetising aromas, but for which the labour resources required to run a full-service scratch bakery are not always available. Baked goods baked from central bakeries sold unpackaged in other outlets are classified as unpackaged/artisanal. In the specific case of in-store bakery counters (for example, in supermarkets), if baked goods are finished on-site but then packaged (for example, in a box or bag) with a barcode and price, set out in the store for sale in this packaging and sold like any other packaged food product (i.e. a customer takes the packaged item from a shelf) then this is classified as packaged. If however the baked good is finished on-site, displayed unpackaged but then placed in packaging as part of the transaction (i.e. a supermarket worker at an in-store bakery counter/a customer places it in a box/bag after it has been chosen, to allow it to be carried safely) this is still classified as unpackaged.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Baked Goods research and analysis database.
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