PROSPECTS AND OPPORTUNITIES
Chocolate-based flavoured powder drinks set to drag the overall performance
The dominant category in other hot drinks in South Korea, chocolate-based flavoured powder drinks, is expected to continue to account for the majority of overall volume and value sales in the forecast period. However, its retail and foodservice volume sales are expected to fail to achieve growth, as the category is mature, and the consumer base is limited mainly to children.
Adapting to health-conscious consumers
As the trend towards health-conscious consumption continues to gain momentum, other hot drinks is expected to see further growth in demand for low sugar or sugar-free alternatives. To stay competitive, brands are expected to focus on reformulating their products to reduce the sugar content whilst maintaining the flavour.
Innovating in functional non-chocolate-based flavoured powder drinks
The emergence of functional non-chocolate-based flavoured powder drinks offers a promising avenue for growth for brands that can innovate and meet the evolving needs of health-conscious consumers. To tap into this trend, brands are likely to focus on developing products that not only taste great, but also deliver tangible health benefits.
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Overview:
Understand the latest market trends and future growth opportunities for the Other Hot Drinks 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 Other Hot Drinks 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 Other Hot Drinks 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 Other Hot Drinks in South Korea?
- To what extent are health considerations impacting consumption of Other Hot Drinks in South Korea?
- What are the traditional preferences in Other Hot Drinks in South Korea? To what extent are these tastes changing amidst increasing international influence and the growth of chained cafés?
- How are changing demographics (for example, an ageing or predominantly young population) determining consumption of Other Hot Drinks in South Korea?
- Which are the leading brands in Other Hot Drinks in South Korea?
- How are products distributed in Other Hot Drinks in South Korea?
- How is the rise of e-commerce changing the retail and competitive landscape?
- Have home seclusion and social distancing measures following COVID-19 benefited sales of Other Hot Drinks?
- Where is future growth expected to be most dynamic?
Other Hot Drinks in South Korea - Category analysis
KEY DATA FINDINGS
“Healthy pleasure” trend, and declining popularity of flavoured powder drinks
Maintaining profitability is becoming a challenge
Dongsuh Foods retains its lead
Chocolate-based flavoured powder drinks set to drag the overall performance
Adapting to health-conscious consumers
Innovating in functional non-chocolate-based flavoured powder drinks
Hot Drinks in South Korea - Industry Overview
Hot drinks in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
Foodservice vs retail split
What next for hot drinks?
DISCLAIMER
The following categories and subcategories are included:
Other Hot Drinks
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- Chocolate-based Flavoured Powder Drinks
- Malt-based Hot Drinks
- Non-Chocolate-based Flavoured Powder Drinks
- Other Plant-based Hot Drinks
Other Hot Drinks
This is the aggregation of Flavoured Powder Drinks and Other Plant-based Powder Drinks. Products can be served hot or cold, and can be mixed with water, milk, or other liquids. Bottled, ready-to-drink flavoured milk drinks are NOT included here and are included in Passport Packaged Food.
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 Other Hot Drinks research and analysis database.
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