PROSPECTS AND OPPORTUNITIES
Fierce competition expected in instant noodle cups due to private label
The fairly stable retail volume performance of rice, pasta and noodles is expected to be maintained in the forecast period, with retail current value growth also set to continue. The continued stability of instant noodles is projected.
Growth prospects for low calorie non-fried noodles
As the health and wellness trend continues to gain traction, sales of low calorie non-fried noodles are projected to experience significant growth in the forecast period. Currently, this segment is predominantly led by Nongshim; however, as the trend persists, it is anticipated that there will be increased participation from other manufacturers of instant noodles.
Growth prospects for healthy and convenient rice, especially utilising domestic rice
The government’s efforts to promote the consumption of domestically produced rice are expected to encourage food companies to continue launching instant rice products made from local rice varieties. In recent years, there has been a growing trend of incorporating regionally sourced rice into product offerings, driven by policies aimed at supporting local agriculture and reducing the reliance on imported alternatives.
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Overview:
Understand the latest market trends and future growth opportunities for the Rice, Pasta and Noodles 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 Rice, Pasta and Noodles 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 Rice, Pasta and Noodles 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 Rice, Pasta and Noodles in South Korea?
- Which are the leading brands in Rice, Pasta and Noodles in South Korea?
- How are products distributed in Rice, Pasta and Noodles 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 Rice, Pasta and Noodles?
- 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?
Rice, Pasta and Noodles in South Korea - Category analysis
KEY DATA FINDINGS
The rise of instant noodle cups
Consumer preference for spicy and wellness instant noodles
Changes in rice consumption patterns
Fierce competition expected in instant noodle cups due to private label
Growth prospects for low calorie non-fried noodles
Growth prospects for healthy and convenient rice, especially utilising domestic rice
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:
Rice, Pasta and Noodles
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- Chilled Noodles
- Frozen Noodles
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- Instant Noodle Cups
- Instant Noodle Pouches
- Plain Noodles
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- Chilled Pasta
- Dried Pasta
- Rice
Rice, Pasta and Noodles
This is the aggregation of rice, noodles and pasta. Includes: Pre-packaged noodles. Excludes: Any noodles, pasta or rice bought loose, bulk and/or unpackaged. Excludes: Any noodle-based ready meals, which would be tracked under ready meals.
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 Rice, Pasta and Noodles research and analysis database.
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