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South Korea Food and Drink Report Q1 2013

  • Publication Date:January 2013
  • Publisher:Business Monitor
  • Product Type: Report
  • Pages:108
  • ISBN:170575

South Korea Food and Drink Report Q1 2013

Includes 3 FREE quarterly updates

Despite widespread calls for a bottoming out in South Korea's economy, we believe the worst is yet to come.
Indeed, forward-looking macro indicators suggest to us that economic weakness is likely to persist well into
2013. We expect real GDP growth to come in at 3.0% in 2013, which remains below consensus'
expectations of 3.4%. The domestic property market is likely to remain weak amid the bleak economic
landscape. A supply overhang and the country's perennial household debt situation are also likely to keep
downward pressure on prices. All this bodes ill for private consumption.


Headline Industry Data (local currency)

2013 per capita food consumption = +2.9%; forecast to 2017 = +27.1%.
2013 alcoholic drink value sales = +2.8%; forecast to 2017 = +27.6%.
2013 soft drink value sales = +4.3%; forecast to 2017 = +31.8%.
2013 mass grocery retail sales = +6.2%; forecast to 2017 = +52.6%.


Key Industry Trends
And Developments
Nong Shim Hit by Noodle Ban: In autumn 2012 the Korea Food and Drug Administration said that health
department tests found that noodles made by Korean food giant Nong Shim did possess safe amounts of the
'benzopyrene' chemical. The Philippines had ordered the recall of six brands of Nong Shim noodles in
October but the government is being urged to lift the noodle ban. In a statement, the South Korean Embassy
said the ban was 'seriously impacting both Philippine and Korean traders, as well as the image of Koreamade
noodles'.
Korean Households Cut Back on Retail Spending: In October 2012 the South Korean Ministry of
Knowledge Economy released figures showing that sales at department stores controlled the country's
leading three retailers fell by 0.4% from a year earlier. The top three retailers include Hyundai, Lotte
Shopping and Shinsegae. The drop compared with a 1.3% decrease predicted by the ministry and a 0.8
%drop in September.


Risks To Outlook

Should we see a sharper-than-expected downturn in the global economy or even an implosion in South
Korea's household debt market, we would certainly expect to see a substantial weakening in the country's
exports sector, which, in turn may push the economy into a pronounced recession.
BMI Industry View . 7
BMI Industry View . 7
SWOT 9
Food 9
Drink . 11
Mass Grocery Retail 13
Industry Forecast 15
Industry Forecast Food 15
Food . 16
Table: Food Consumption Indicators, Historical Data and Forecasts 2010-2017 17
Table: Canned Food Historical Data and Forecasts 2010-2017 . 18
Table: Confectionery Historical Data and Forecasts 2010-2017 19
Table: Sugar Confectionery Historical Data and Forecasts 2010-2017 . 20
Table: Processed Meat Historical Indicators and Forecasts 2010-2017 21
Table: Preserved Fish Historical Indicators and Forecasts 2010-2017 . 22
Table: Oils and Fats Historical Indicators and Forecasts 2010-2017 . 23
Table: South Korea Food and Drink Trade Indicators, Historical Data and Forecasts 2010-2017 . 28
Industry Forecast Drink . 29
Table: Hot Drinks Value Sales Historical Data and Forecasts 2010-2017 29
Table: Alcoholic Drinks Value Sales Historical Data and Forecasts 2010-2017 30
Table: Soft Drinks Value Sales Historical Data and Forecasts 2010-2017 32
Table: Carbonates Historical Data and Forecasts 2010-2017 . 32
Table: Bottled Water Historical Indicators and Forecasts 2010-2017 . 33
Industry Forecast Mass Grocery Retail 33
Table: South Korea MGR Indicators, Sales Value by Format, Historical Data and Forecasts 2010-2017 . 35
Table: Retail Sales By Format . 36
Industry Risk Reward Ratings . 37
Asia Food & Drink Risk/Reward Ratings 37
Table: Food & Drink Risk/Reward Sub-Factor Ratings, Q113 (score out of 10) 37
Table: Asia Pacific Food & Drink Risk/Reward Ratings Q113 39
Market Overview . 43
Market Overview Food 43
Market Overview Drink . 45
Market Overview Mass Grocery Retail 46
Table: Table: Estimated Number Of MGR Outlets 48
Table: Table: MGR Sales Value (US$bn) 49
Table: Table: MGR Sales Value (KRWbn) . 49
Table: Table: Average Sales Per Outlet By Format, 2010 . 49
Industry Trends And Developments 50
Industry Trends And Developments Food 50
Industry Trends And Developments Drink . 55
Industry Trends And Developments Mass Grocery Retail 60
Competitive Landscape . 70
Competitive Landscape Food and Drink 70
Table: Key Players In South Korea's Food Sector . 70
Table: Key Players In South Korea's Drink Sector 70
Competitive Landscape Mass Grocery Retail . 71
Table: Key Players In South Korea's MGR Sector . 71
Company Profile 73
Maiel Dairy Industry 73
Nong Shim 76
Hite Brewery . 79
Oriental Brewery . 82
Lotte Shopping 84
Samsung Tesco HomePlus 87
Global Industry Overview . 90
Global Food & Drink Core Views . 90
Table: Core Views 99
Glossary 100
Glossary . 100
Food & Drink 100
Mass Grocery Retail 100
Methodology 102
Risk/Reward Ratings Methodology 102
Table: Rewards 103
Table: Risks 103
Table: Weighting . 104
Demographic Forecast 105
Demographic Forecast 105
Table: South Korea's Population By Age Group, 1990-2020 ('000) 106
Table: South Korea's Population By Age Group, 1990-2020 (% of total) 107
Table: South Korea's Key Population Ratios, 1990-2020 108
Table: South Korea's Rural And Urban Population, 1990-2020 108
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