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Market Focus: Trends and Developments in the Confectionery Sector in South Korea

  • July 2014
  • 37 pages
  • GlobalData
Report ID: 2279012

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Summary

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

Key Findings

- The Confectionery market in South Korea will register moderate growth during 2013-2014, driven by its large young and affluent population.

- Though Sugar Confectionery has large volume sales, the overall growth in the market will be driven by the growing popularity of Chocolate Confectionery.

- South Korean Consumers seek out Confectionery products which offer healthy indulgence and have low sugar content or functional benefits.

- Hypermarkets and Supermarkets are the most preferred retail channel for purchasing Confectionery in South Korea, followed by Convenience Stores.

- Domestic manufacturers lead the Confectionery market as consumers prefer local tastes and flavors

Synopsis

The Confectionery market in South Korea will register moderate growth during 2013-2018 and Chocolate Confectionery will register the highest growth. As the age structure of South Korea is evolving, Confectioners will need to cater to the needs of aging population who have indulgent needs. The rising pollution and sore throat concerns will also drive sales of Medicate Confectionery. While there is a growing popularity of South Korean Chocolates with functional ingredients among foreign consumers, marketers will have to improve labelling and packaging to appeal to the growing consumer base.

Reasons To Buy

This overview of the consumer and market dynamics of the South Korean Confectionery 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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