PROSPECTS AND OPPORTUNITIES
Focus on product development will be significant for processed red meat
Processed meat, seafood and alternatives to meat in Soth Korea is expected to see a minimal positive retail volume CAGR, and a more dynamic retail current value CAGR in the forecast period. Growth is set to be driven by poultry, with retail volume sales of processed red meat expected to decline across all segments – shelf stable, frozen, and chilled – in the forecast period.
Evolving competition in snack-oriented processed meat, especially deli meat
As processed meat shifts from being dominated by traditional products such as Vienna sausages and canned ham, to a more snack-oriented focus, increased competition is expected in the snack-type processed meat segment, including deli meats and frankfurters.
Meat and seafood substitutes to disrupt the category and create strong competition
The strongest retail volume and current value growth rates in processed meat, seafood and alternatives to meat in South Korea in the forecast period are expected to be seen by meat and seafood substitutes. Recent trends in terms of animal welfare, climate change, and future food needs have spurred various players to invest in research and development into plant-based and cultured meat.
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Overview:
Understand the latest market trends and future growth opportunities for the Processed Meat, Seafood and Alternatives to Meat 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 Processed Meat, Seafood and Alternatives to Meat 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 Processed Meat, Seafood and Alternatives to Meat 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 Processed Meat, Seafood and Alternatives to Meat in South Korea?
- Which are the leading brands in Processed Meat, Seafood and Alternatives to Meat in South Korea?
- How are products distributed in Processed Meat, Seafood and Alternatives to Meat 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 Processed Meat, Seafood and Alternatives to Meat?
- 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?
Processed Meat, Seafood and Alternatives To Meat in South Korea - Category analysis
KEY DATA FINDINGS
Changing consumer attitudes to chilled processed meat, from side dishes to snacks
Polarised growth rate between processed red meat and poultry due to increased consumer interest in health
Westernised eating habits and the increased popularity of ham
Focus on product development will be significant for processed red meat
Evolving competition in snack-oriented processed meat, especially deli meat
Meat and seafood substitutes to disrupt the category and create strong competition
Staple Foods in South Korea - Industry Overview
Staple foods in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for staple foods?
DISCLAIMER
The following categories and subcategories are included:
Processed Meat, Seafood and Alternatives to Meat
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- Shelf Stable Processed Red Meat
- Shelf Stable Processed Poultry
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- Chilled Processed Red Meat
- Chilled Processed Poultry
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- Frozen Processed Red Meat
- Frozen Processed Poultry
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- Shelf Stable Seafood
- Chilled Processed Seafood
- Frozen Processed Seafood
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- Chilled Meat and Seafood Substitutes
- Frozen Meat and Seafood Substitutes
- Shelf Stable Meat and Seafood Substitutes
- Tofu and Derivatives
Processed Meat, Seafood and Alternatives to Meat
This is the aggregation of processed meat, processed seafood and meat and seafood substitutes.
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 Processed Meat, Seafood and Alternatives to Meat research and analysis database.
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