PROSPECTS AND OPPORTUNITIES
Potential risks due to development of processed foods and ready meals
Full-service restaurants is shifting from traditional banquet-style dining to one-bowl meals, making it increasingly important for operators to communicate their value to consumers compared to alternative food options. With the growing variety and improved quality of ready meals and packaged foods, there is a risk that demand could shift towards these alternatives offered by retail.
Further development of table-ordering systems to enhance consumer experience
Over the forecast period, the push towards unmanned table-ordering systems for full-service restaurants will accelerate to address rising labour costs and staffing shortages. In fact, Woowa Brothers recently launched “Baemin Order”, a service that supports both tablet-based and QR code ordering while maintaining the same user interface as Baemin’s delivery app.
Delivery of new cuisines will be essential to push recovery of full-service restaurants
Full-service restaurants is characterised as being highly mature, with a notable emphasis on Asian full-service restaurants. However, to align with the preferences of the key consumer demographics and the evolving tastes of millennials and Generation Z, who seek novelty and freshness, new elements related to the essence of dining out – the food itself – are anticipated to emerge.
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Overview:
Understand the latest market trends and future growth opportunities for the Full-Service Restaurants 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.
If you're in the Full-Service Restaurants 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 Full-Service Restaurants 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 Full-Service Restaurants in South Korea?
- Which are the leading brands in Full-Service Restaurants in South Korea?
- How are multinational and local operators competing and expanding in South Korea?
- How are consumer lifestyle trends and eating habits shaping Full-Service Restaurants in South Korea?
- How is the Full-Service Restaurants industry adapting to a post-COVID-19 market environment? Where are the opportunities amidst the challenges?
- How significant are health considerations in shaping the future of Full-Service Restaurants in South Korea? Which of these trends hold the greatest potential demand?
- Where is future growth expected to be most dynamic?
Full-Service Restaurants in South Korea - Category analysis
KEY DATA FINDINGS
Shifting consumer preferences and market challenges for full-service restaurants
Retail options offer strong competition
The popularity of one-bowl foods is on the rise due to changing culture in dining out
Potential risks due to development of processed foods and ready meals
Further development of table-ordering systems to enhance consumer experience
Delivery of new cuisines will be essential to push recovery of full-service restaurants
Consumer Foodservice in South Korea - Industry Overview
Consumer foodservice in 2024: The big picture
2024 key trends
Competitive landscape
Independent foodservice developments
What next for consumer foodservice?
DISCLAIMER
The following categories and subcategories are included:
Full-Service Restaurants
- Chained Full-Service Restaurants
- Independent Full-Service Restaurants
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- Chained Asian Full-Service Restaurants
- Independent Asian Full-Service Restaurants
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- Chained European Full-Service Restaurants
- Independent European Full-Service Restaurants
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- Chained Latin American Full-Service Restaurants
- Independent Latin American Full-Service Restaurants
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- Chained Middle Eastern Full-Service Restaurants
- Independent Middle Eastern Full-Service Restaurants
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- Chained North American Full-Service Restaurants
- Independent North American Full-Service Restaurants
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- Chained Pizza Full-Service Restaurants
- Independent Pizza Full-Service Restaurants
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- Chained Other Full-Service Restaurants
- Independent Other Full-Service Restaurants
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Full-Service Restaurants
FSR (full-service restaurants) encompasses all sit-down establishments where the focus is on food rather than on drink. FSR is characterized by table service and a relatively higher quality of food compared to quick-service units. Menus offer multiple selections and may include breakfast, lunch and dinner. Preparation of food products is often complex and involves multiple steps. NOTE: restaurants types catalogued in this segment refer to table-service only (outlets with a proper “full table service:” wait staff attending customers and taking orders at the tables). Outlets with “limited table service” are excluded from FSR. For example: outlets where customers order their food at the counter are excluded (even though the waiter will then bring the food at the table).
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This report originates from Passport, our Full-Service Restaurants research and analysis database.
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