Despite an economic dip, South Korea’s foodservice market experienced moderate value growth between 2014 and 2016 at a CAGR of 3.5%. Such growth has encouraged a number of international brands to enter the market, resulting in a high degree of consolidation.
WiseGuyReports published new report, titled “South Korea - The Future of Foodservice”.
"South Korea - The Future of Foodservice to 2021", published by provides extensive insight and analysis of the South Korean Foodservice market over the next five years (2016-2021) and acts as a vital point of reference for operators or suppliers.
This is most evident across the QSR market, in which the top five chain operators generated a combined 73.1% of total channel sales value in 2016. For many, out-of-home foodservices remain an indispensable part of everyday life.
Owing to small living spaces, younger urbanites often utilize foodservice outlets as an extension of their living rooms; this is particularly true of coffee and tea shops.
The report includes -
- Overview of South Korea's macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on the South Korean foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.
- Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR and Coffee & Tea Shops) within the South Korean foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
- Customer segmentation: identify the most important demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the Bulgarian population.
- Key players: Overview of market leaders within the three major channels including business descriptions and number of outlets.
- Case Studies: Learn from examples of recent successes and failures within the South Korean foodservice market.
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- The increased use of mobile technology has allowed operators to maximize efficiency and value, as well as offering consumers ‘smart experiences’. This is particularly prominent within the QSR market, with operators seeking to target time-poor but tech savvy urbanites.
- Low birth rates, combined with longer life expectancies, have boosted the importance of the country’s elderly population.
- A ‘Westernization’ of the foodservice market has seen operators increasingly feature steaks, grills and American style pizzas as part of their menus. This trend has been primarily driven by younger generations, with these products being associated with aspirational American ‘lifestyles’.
Key points to access
- Specific forecasts of the foodservice market over the next five years (2016-2021) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
- Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR and Coffee & Tea shops) will allow readers understand the wants and needs of their target demographics.
- Relevant case studies will allow readers to learn from and apply lessons discovered by emerging and major players within the South Korean foodservice market.
Table of Contents
GDP and Consumer Price Index
Population and demographic highlights
Annual household income distribution
Introducing the Consumer Segments
Consumer segment profiles and key identification metrics
Segment engagement overview in four key profit sector channels
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