PROSPECTS AND OPPORTUNITIES
No/low/no added sugar to see strong growth, as younger consumers in particular are interested in health
Sugar reduction is a popular trend in South Korea, as an increasing number of consumers, especially amongst the younger generations, are following the “healthy pleasure” trend; they understand that the increasing prevalence of chronic diseases such as diabetes and heart disease is linked to poor dietary choices, such as the consumption of processed foods high in sugar, salt, and unhealthy fats, but still want to enjoy food. Rising awareness is partly due to ongoing discussions in the National Assembly, and government initiatives to promote healthier dietary habits amongst citizens.
High protein set to see significant growth due to new launches
Increasing awareness of the links between diet and a strong metabolism are expected to lead more consumers to look for products with targeted functionalities and fortifications, such as high protein, probiotic, or good source of omega 3s. While taste remains a crucial factor, there is growing awareness amongst players of the importance of incorporating healthy elements into snacks to cater to the evolving needs and preferences of South Korean consumers.
Probiotic claim set to be boosted by consumer search for functional benefits even in snacks
Health and wellness is expected to remain a growing trend within snacks in South Korea, due to consumers’ concerns about their health, and their desire to eat healthier foods in order to prevent any medical issues. Consumers are therefore increasingly looking for foods with functional benefits that help to support their general and immune health.
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Overview:
Understand the latest market trends and future growth opportunities for the HW Snacks 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 HW Snacks 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 HW Snacks 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 HW Snacks in South Korea?
- What are the key health and wellness concerns driving sales in HW Snacks?
- Is HW Snacks a dynamic niche or mainstream concern in South Korea?
- Which are the leading brands in HW Snacks in South Korea?
- How are products distributed in HW Snacks in South Korea?
- How has COVID-19 and accordant recession impacted sales? Which categories have seen rising demand? Which are most vulnerable to economic disruption and diminished consumer confidence?
- Where is future growth expected to be most dynamic?
HW Snacks in South Korea - Category analysis
KEY DATA FINDINGS
Organic holds the highest share of value sales within health and wellness snacks, as younger consumers in particular are interested in health
Move towards low salt snacks, as consumer concern about overconsumption rises
Vegan shows promise due to consumer concern about health, weight, animal welfare, and the environment
No/low/no added sugar to see strong growth, as younger consumers in particular are interested in health
High protein set to see significant growth due to new launches
Probiotic claim set to be boosted by consumer search for functional benefits even in snacks
Health and Wellness in South Korea - Industry Overview
Health and wellness in focus
Consumer weight trends
Consumer diet trends
Health-related deaths
Blood pressure and cholesterol levels
Diabetes prevalence
DISCLAIMER
Why 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 HW Snacks research and analysis database.
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