Top Growth Opportunities: Hot Drinks in South Korea
Summary
The South Korean hot drinks sector ranks seventh in terms of per capita expenditure in US dollar terms, just above India, China, and Malaysia. Furthermore, the per capita expenditure in South Korea is expected to grow at a CAGR of 5.9% during 2017-2022.
This growth can be attributed to a large, young population base (20.3% of the population aged 20-34 in 2017) in the country who are experimental in nature and increasingly seeking innovative flavors and varieties of products. This is driving manufacturers to launch unusual flavors in hot drinks. Moreover, with changing lifestyles and increasing health consciousness, consumers are also looking for ‘better-for-you’ healthy hot drinks options labeled with health & wellness claims.
The report "Top Growth Opportunities: Hot Drinks in South Korea", provides an overview of the Hot Drinks market, analyzing market data, demographic consumption patterns within the category, and the key consumer trends driving consumption. The report uses Risk vs Reward Opportunity model to pinpoint the best growth opportunities for Hot Drinks producers, suppliers and retailers by combining robust, granular data and expert insight. The report identifies the best opportunities, analyzes white spaces in the market, and outlines new product development that will effectively target the most pertinent consumer need states. These are combined to offer strategic recommendations to capitalize on evolving consumer landscapes.
The report brings together consumer analysis and market data to provide actionable insight into the behavior of South Korea Hot Drinks consumers. This is based on unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivators in the Hot Drinks sector. Category, brand, and packaging dynamics are also examined. This allows product and marketing strategies to be better aligned with the leading trends in the market.
Companies mentioned: Ajinomoto Group, Nestle SA, Jacobs Douwe Egberts, Jardin Café Solution S.A., McNulty`s Tea & Coffee Co., Namyang Dairy Products Co, Amorepacific Corporation, Dongsuh, Lotte Co., Ltd., Ottogi Co, Ltd.
Scope
Reasons to Buy
Summary
The South Korean hot drinks sector ranks seventh in terms of per capita expenditure in US dollar terms, just above India, China, and Malaysia. Furthermore, the per capita expenditure in South Korea is expected to grow at a CAGR of 5.9% during 2017-2022.
This growth can be attributed to a large, young population base (20.3% of the population aged 20-34 in 2017) in the country who are experimental in nature and increasingly seeking innovative flavors and varieties of products. This is driving manufacturers to launch unusual flavors in hot drinks. Moreover, with changing lifestyles and increasing health consciousness, consumers are also looking for ‘better-for-you’ healthy hot drinks options labeled with health & wellness claims.
The report "Top Growth Opportunities: Hot Drinks in South Korea", provides an overview of the Hot Drinks market, analyzing market data, demographic consumption patterns within the category, and the key consumer trends driving consumption. The report uses Risk vs Reward Opportunity model to pinpoint the best growth opportunities for Hot Drinks producers, suppliers and retailers by combining robust, granular data and expert insight. The report identifies the best opportunities, analyzes white spaces in the market, and outlines new product development that will effectively target the most pertinent consumer need states. These are combined to offer strategic recommendations to capitalize on evolving consumer landscapes.
The report brings together consumer analysis and market data to provide actionable insight into the behavior of South Korea Hot Drinks consumers. This is based on unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivators in the Hot Drinks sector. Category, brand, and packaging dynamics are also examined. This allows product and marketing strategies to be better aligned with the leading trends in the market.
Companies mentioned: Ajinomoto Group, Nestle SA, Jacobs Douwe Egberts, Jardin Café Solution S.A., McNulty`s Tea & Coffee Co., Namyang Dairy Products Co, Amorepacific Corporation, Dongsuh, Lotte Co., Ltd., Ottogi Co, Ltd.
Scope
- South Korea’s economic growth (GDP) is slated to remain stable through 2020, given the government’s initiatives to tackles rising unemployment in the country, according to the OECD. The steady improvement in the country’s economy is likely to drive consumer spending, supporting growth in the hot drinks sector during 2017-2022.
- Hot coffee popular among working class people as well as older consumers as it is considered to be one of the staple everyday drinks in the country. Brands should come up with new products in this category featuring unusual flavors and varieties to drive premiumization and higher profit margins.
- Rapid technological developments will have a huge impact on consumers’ shopping practice and ultimately on the South Korean retail landscape. The traditional retailers are offering the convenience of shopping grocery via their dedicated online websites, which will enable niche brands and products to reach a larger base of consumers.
Reasons to Buy
- This report brings together consumer analysis and market data to provide actionable insight into the behavior of South Korea Hot Drinks consumers.
- This is based on unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivators in the Hot Drinks sector.
- Category, brand, and packaging dynamics are also examined.
- This allows product and marketing strategies to be better aligned with the leading trends in the market.
Table of Contents
1. Introducing a top growth market for hot drinks- Top 10 global growth opportunities scores
- Top global issues
- Assessment against global strategic issues
- ’s strategic issues map
- Predicted future issues for the global sector
- Reward and risk assessment
- Opportunity score - overview
- Consumer spending trends - peer group comparisons
- Political, Economic, Social, and Technological: Analysis
- Enablers and inhibitors of growth
- Rewards and opportunities for growth
- Summary of the market
2. Market insight - identifying the opportunities to move into
- Market growth by category
- Value growth of the market
- Volume growth of the market
- Level of premiumization by category
- Category analysis - key drivers of change
3. Retail and distribution insight - key channels and retailers driving growth
- Retail channel share
- Key Retail Channel trends
- Routes to market
- Drivers of change in the sector
4. Company and brand insight - the competitive landscape defined
- Company and brand strength
- International and domestic brand analysis
- Company and brand strength summary
5. Consumer insight - who, what, when, where and why
- Strategic issues map
- Key consumer drivers
- Key consumers trends
- Consumer groups
- Key Health & Wellness trends
- Consumer trends summary
6. Product and packaging insights
- Key Product Insights
- Trends and strategic issues - other notable product trends
- Key product innovation case studies
- Key Packaging Insights
- Trends and strategic issues - pack material trends
- Trends and strategic issues - closure material trends
- Product launch key take-outs
7. White spaces and innovation opportunities - space to move into
- Growth segments to target
- Segment focus - opportunities
- Consumer spaces to target
- Price dynamics
- Key recommendations
8. Appendix
List of Tables
- Visualization of 10 countries growth opportunities
- Visualization of 10 countries growth opportunities (continued)
- Reward and risk assessment
- Key Performance Metrics
- Winners and losers by category, value, 2017-2022
- Winners and losers by category, volume, 2017-2022
- Distribution channels - Top Four
- Number of outlets in South Korea
- Company and brand strength
- International and domestic trademark owner analysis
- 2017 Consumption volume shares by consumer group
- Segment focus - opportunities
- 2017 Consumption volume shares by consumer group
- Monthly average unit price point
List of Figures
- Map of top opportunity
- Map of top global issues
- Global issue web
- ’s strategic issues map
- Average consumer spend, peer group comparisons, 2012-2022
- Market value and split, 2012-2022
- Value growth by category, 2012-2017 and 2017-2022
- Value market growth by category, 2012-2022
- Volume growth by category, 2012-2022
- Value and volume growth 2012-2017 by category
- Pack materials volume share, 2017 & 2022
- Closure materials volume share, 2017 & 2022
- 2017-2022 CAGR for hot drinks categories by value share
- Top category consumed by consumer groups, 2011 - 2016
- Price change by category over last 12 months
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Ajinomoto Group
- Nestle SA
- Jacobs Douwe Egberts
- Jardin Café Solution S.A.
- McNulty`s Tea & Coffee Co.
- Namyang Dairy Products Co
- Amorepacific Corporation
- Dongsuh
- Lotte Co. Ltd.
- Ottogi Co Ltd
