PROSPECTS AND OPPORTUNITIES
Gradual increase in sweet spreads expected due to changes in dietary preferences
Sweet spreads in South Korea is expected to see slow and stable growth rates in both retail volume and current value terms in the forecast period. As consumers increasingly adopt Westernised eating habits, there is a noticeable trend of replacing rice, which is traditionally the staple food in the country, with bread and sweet spreads as a simple meal alternative.
Home baking is easier, but younger consumers still prefer eating out at bakeries
Household appliances such as air fryers and mini ovens have witnessed explosive growth in homes. These appliances have made cooking more convenient, with consumers able to transform items such as frozen pastry dough and dough sheets into an array of baked goods at home.
To further increase sales, finding a pairing product is essential
Sweet spreads ultimately serve as complementary ingredients, typically paired with other foods. Similarly, sauces – which companies are currently focusing on expanding – have a comparable role.
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Overview:
Understand the latest market trends and future growth opportunities for the Sweet Spreads 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 Sweet Spreads 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 Sweet Spreads 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 Sweet Spreads in South Korea?
- Which are the leading brands in Sweet Spreads in South Korea?
- How are products distributed in Sweet Spreads 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 Sweet Spreads?
- 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?
Sweet Spreads in South Korea - Category analysis
KEY DATA FINDINGS
Rising demand for low sugar and calories
Nut and seed-based spreads sees double-digit growth in retail value terms
Convenient and hygienic jams and preserves target different consumption occasions
Gradual increase in sweet spreads expected due to changes in dietary preferences
Home baking is easier, but younger consumers still prefer eating out at bakeries
To further increase sales, finding a pairing product is essential
Cooking Ingredients and Meals in South Korea - Industry Overview
Cooking ingredients and meals in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for cooking ingredients and meals?
DISCLAIMER
Sweet Spreads
Excludes: Any products sold unpackaged or in bulk; margarine, butter substitutes, vegetable-oil based, yeast-based, and meat/seafood-based spreads.
See all of our definitionsWhy buy this report?
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This report originates from Passport, our Sweet Spreads research and analysis database.
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