South Korea Oils and Fats - Market Assessment and Forecasts to 2024

South Korea Oils and Fats - Market Assessment and Forecasts to 2024

  • February 2020 •
  • 86 pages •
  • Report ID: 5876109 •
  • Format: PDF
South Korea Oils and Fats - Market Assessment and Forecasts to 2024

The South Korean oils & solid fats sector is led by the oils category in both value and volume terms in 2019 and the category is also forecast to register the fastest growth in both value and volume terms, during 2019-2024.Hypermarkets & supermarkets is the leading distribution channel for oils & fats in South Korea.

Rigid plastics is the most commonly used pack material and is also expected to grow the fastest during 2019-2024.Consumption of oils and fats is higher among men compared to women in South Korea.

Cj Group, Sam Yang Foods Co. Ltd and Sajo Haepyo Corp are the top three companies in the South Korean oils and fats sector.

Country Profile report on the oils and fats sector in South Korea provides insights on high growth markets to target, trends in the usage of packaging materials, types and closures category level distribution data and brands market shares.

What else is contained?
- Sector data: Overall sector value and volume data with growth analysis for 2014-2024
- Category coverage: Value and growth analysis for oils and fats with inputs on individual segment share within each category and the change in their market share forecast for 2019-2024
- Leading players: Market share of brands (in value and volume terms) and private labels (in value terms) in 2019
- Distribution data: Percentage of sales within each category through distribution channels such as cash & carries and warehouse clubs , convenience stores, department stores, “dollar stores”, variety stores & general merchandise retailers, e-retailers, food & drinks specialists, hypermarkets & supermarkets, and other general retailers
- Packaging data: consumption breakdown for package materials and pack types in each category, in terms of percentage share of number of units sold. Pack material data for glass, flexible packaging, paper & board, rigid plastics, rigid metal and others; pack type for: aerosol, speciality container, carton- liquid, jar, wrapper, can, bottle, bag/sachet, tub, stand-up pouch, and tray.

- The per capita consumption of oils and fats was higher in South Korea compared to the global level in 2019
- The spending behavior of the South Korean consumers in the oils and fats sector will remain unchanged
- In South Korea, the per capita consumption of oils was higher than solid fats in 2019
- Private labels are growing at a faster CAGR than branded products in the South Korean oils and fats sector
- Rigid plastics is the most commonly used pack material in the South Korean oils and fats sector
- Older consumers account for the leading share in the consumption of oils and fats in South Korea

Reasons to buy
- Identify high potential categories and explore further market opportunities based on detailed value and volume analysis
- Existing and new players can analyze key distribution channels to identify and evaluate trends and opportunities
- Gain an understanding of the total competitive landscape based on detailed brand share analysis to plan effective market positioning
- Manufacturers can identify the opportunities to position products with H&W attributes/benefits
- Our team of analysts have placed a significant emphasis on changes expected in the market that will provide a clear picture of the opportunities that can be tapped over the next five years, resulting in revenue expansion
- The packaging analysis report helps manufacturers, in identifying the most commonly used packaging materials in the sector
- Analysis on key macro-economic indicators such as real GDP, nominal GDP, consumer price index, household consumption expenditure, population (by age group, gender, rural-urban split, and employed people and unemployment rate. It also includes economic summary of the country along with labor market and demographic trends.

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