South Korea Frozen Food Market Share

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South Korea Frozen Food Market Size, Share, Analysis, Trends
and Forescast to 2024 | Hexa Research
“South Korea frozen food market was estimated to be worth USD
1,313.0 million in the year 2016. The market for frozen food products
is growing fast in South Korea owing to new social trend in which
people are choosing to live and eat alone.”
14 September 2018 South Korea Frozen Food Market is expected to be valued at USD 1,629.3 million by 2024 driven primarily by
growing aging population which demands frozen foods with high nutritional value and low preservatives.
Time limitations are driving the demand for more timely ways of shopping and convenience products.
Increase in women workforce, single person household and longer working commutes have reduced the time
available for home meal preparation and grocery shopping owing to which people are shifting towards frozen
processed foods that merely take one step for preparation, for instance, boiling or heating.
The Korean market is primarily influenced by the number of rising number of people adopting western style
diet which is expected to boost the demand for popular U.S. and European products. Trending demand for
organic and fresh frozen food products has also seen an increase among young professionals and older
population who are trying to stay fit. Convenient pricing is further expected to support the growth of frozen
food products in the Korean market over the coming years.
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Convenience along with traditional appeal is the new trend when it comes to product innovation. Formal
mealtimes which used to take minutes to cook and eat are considered to be past times. Millennials nowadays
often consider eating impulsively rather than eating traditional meals. Therefore, manufacturers are
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expected to focus on innovation of quick and healthy frozen snacks that can be enjoyed depending on
different occasion.
Frozen seafood products dominate the market with market revenue share of 44.5% in 2016 followed by ready
meal segment. Commonly found recipe’s such as potatoes, ribs, spines and chicken are already boosting the
sale of frozen food products in Korean market. Growing acceptance of frozen processed food by chefs across
various restaurants and cuisines in South Korea is further expected to drive the demand for f rozen products
such as ready meals, meat & poultry, seafood, sorbets, and confectionery over the future period.
Hexa Research has segmented the South Korea frozen food market report based on type and distribution
channel:
Segmentation by Type
• Frozen ready meals
• Frozen Pizza
• Frozen fish/seafood
• Frozen meat
• Frozen potato products
• Frozen bakery products
• Others
Segmentation by Distribution Channel
• Online
• Offline
Key players analyzed:
• Dongwon F&B
• Nestle
• Hansung Enterprise Co., Ltd.
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Table of Contents of South Korea Frozen Food Market:
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Chapter 1. Market Summary
1.1. Market trends & movement
Chapter 2. South Korea Frozen Food Market Trends: Drivers & Opportunities
2.1. Introduction
2.2. Key industry trends
2.2.1. Market drivers
2.2.2. Market restraints
2.3. Porter's Five Forces analysis
2.4. Supply chain analysis
Chapter 3. South Korea Frozen Food Market, By Food Type
3.1. South Korea Frozen Food movement, by food-type, 2016 & 2024
3.1.1. Frozen ready meals
3.1.1.1. Market estimates and forecast, 2014 - 2024 (USD Million)
3.1.2. Frozen Pizza
3.1.2.1. Market estimates and forecast, 2014 - 2024 (USD Million)
3.1.3. Frozen fish/seafood
3.1.3.1. Market estimates and forecast, 2014 - 2024 (USD Million)
3.1.4. Frozen meat
3.1.4.1. Market estimates and forecast, 2014 - 2024 (USD Million)
3.1.5. Frozen potato products
3.1.5.1. Market estimates and forecast, 2014 - 2024 (USD Million)
3.1.6. Frozen bakery products
3.1.6.1. Market estimates and forecast, 2014 - 2024 (USD Million)
3.1.7. Others
3.1.7.1. Market estimates and forecast, 2014 - 2024 (USD Million)
Chapter 4. South Korea Frozen Food Market, By Distribution Channel
4.1. South Korea Frozen Food movement, by Distribution Channel, 2016
4.1.1. Online
4.1.2. Offline
Chapter 5. Competitive Landscape
5.1. Competitive landscape analysis, 2014
5.2. Strategic framework
5.3. Company profiles
5.3.1. Dongwon F&B Co., Ltd.
5.3.1.1. Company Overview
5.3.1.2. Product Benchmarking
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5.3.1.3. Financial Performance
5.3.1.4. Recent Initiatives
5.3.2. Hansung Enterprise Co., Ltd.
5.3.2.1. Company Overview
5.3.2.2. Product Benchmarking
5.3.2.3. Financial Performance
5.3.2.4. Recent Initiatives
5.3.3. Nestlé
5.3.3.1. Company Overview
5.3.3.2. Product Benchmarking
5.3.3.3. Financial Performance
5.3.3.4. Recent Initiatives
5.3.4. Hansung Enterprise Co., Ltd.
5.3.4.1. Company Overview
5.3.4.2. Product Benchmarking
5.3.4.3. Financial Performance
5.3.4.4. Recent Initiatives
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South Korea frozen food market is expected to be valued at USD 1,629.3 million by 2024

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