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Market Focus: Trends and Developments in the Savory Snacks Sector in South Korea

  • May 2014
  • -
  • GlobalData
  • -
  • 50 pages

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Summary
This report brings together consumer insight and market data to provide a comprehensive brief of the South Korean Savory Snacks sector. This allows for the rapid identification of key growth opportunities across major Savory Snacks categories and their packaging.

Key Findings
- The Savory Snacks market in South Korea is a mature market and will register moderate growth during 2013-2018.
- Processed Snacks is the largest category by value and Potato Chips will register highest growth during 2013-2018.
- Savory Snacks with new flavors and shapes that offer fun and enjoyment are popular in South Korea.
- Hypermarkets and Supermarkets are the largest retailers of Savory Snacks in South Korea as they offer one-stop-shop convenience. Due to the advancement in information technology and increase in the use of smart phones by busy South Korean consumers, Hypermarkets and Supermarkets have started offering enhanced shopping facilities like virtual supermarkets.
- Growing health concerns will drive the growth of better for you products.

Synopsis
The Savory Snacks market in South Korea is a mature market and offers moderate growth opportunities that are biased towards Processed Snacks, which is the largest category by value, and Potato Chips, which will register the highest growth during 2013-2018. Personal Space and Time and Fun and Enjoyment are the major trends influencing the consumption of Savory Snacks products in South Korea. There will be an increase in demand of premium products, driven by the high disposable income of South Korean consumers.

Reasons To Buy
This overview of the consumer and market dynamics of the South Korean Savory Snacks sector allows new entrants and established companies to gain rapid and comprehensive insight into the current state of the market and identify the key trends that will drive growth in the coming years.

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