Country Profile: Syrups & Spreads in South Korea

The South Korean syrups & spreads sector is led by the 'jams, jellies & preserves' category in both value and volume terms. However, the syrups category is forecast to register the fastest growth in value terms, during 2017-2022. Hypermarkets & supermarkets account for the leading share in the distribution of syrups & spreads in the country. Glass is the most commonly used pack material in the sector, while flexible packaging is expected to register the fastest growth during 2017-2022. ‘Ottogi Co, Ltd.’, ‘Bokumjari Co Ltd’ and ‘Mars, Incorporated’ are the leading market players in the sector.

GlobalData’s Country Profile report on the syrups & spreads sector in South Korea provides insights on high growth categories to target, trends in the usage of package materials, category level distribution channel data and market share of brands.

What else is contained?

– Sector data: Overall sector value and volume data with growth analysis for 2012-2022

– Category coverage: Value and growth analysis for ‘jams, jellies & preserves’, molasses, savory spreads, sweet spreads, and syrups with inputs on individual segment share within each category and the change in their market share forecast for 2017-2022

– Leading players: Market share of brands in value terms in 2017

– Distribution data: Percentage of sales within each category through distribution channels such as Cash & Carries and warehouse Clubs, Hypermarkets & Supermarkets, Convenience Stores, Food & Drinks Specialists, eRetailers and others

– 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 data for: Bottle, Can,Tub, Bag/Sachet, and Jar.

Scope

– Per capita consumption of syrups & spreads in South Korea is higher compared to regional (Asia-Pacific) level in 2017

– Of the five categories, 'jams, jellies & preserves' was the largest in the South Korean syrups & spreads sector

– Hypermarkets & Supermarkets was the leading distribution channel in the South Korean syrups & spreads sector, followed by food & drnks specialists

– Ottogi was the leading brand in the South Korean syrups & spreads sector

– Glass was the most commonly used package material in the South Korean syrups & spreads sector.

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, rurral-urban split, and employed people and unemployment rate. It also includes economic summary of the country along with labor market and demographic trends.

Companies mentioned

Ottogi Co Ltd.

Bokumjari Co Ltd

Mars Incorporated

Dongwon F&B

Ferrero

Nekutli

Table of Contents

Table of Contents

Report scope 2-3

Executive summary 11-13

South Korea in the global and regional context 14-17

South Korea in the global and Asia-Pacific syrups & spreads sector 15

South Korea compared to other leading countries in Asia-Pacific 16

Per capita consumption and expenditure – South Korea compared to Asia-Pacific and global levels 17

Sector analysis – syrups & spreads 18-36

Country snapshot – syrups & spreads sector in South Korea 19

Value and volume analysis – syrups & spreads sector in South Korea 20

Cross category comparison – value and growth rate 21

Change in category share by value 22

Cross category comparison – volume and growth rate 23

Change in category share by volume 24

Per capita consumption analysis by category 25

Category analysis: ‘jams, jellies & preserves’ 26

Segment analysis (in value terms): ‘jams, jellies & preserves’ 27

Segment analysis (in volume terms): ‘jams, jellies & preserves’ 28

Category analysis: molasses 29

Category analysis: savory spreads 30

Segment analysis (in value terms): savory spreads 31

Segment analysis (in volume terms): savory spreads 32

Category analysis: sweet spreads 33

Segment analysis (in value terms): sweet spreads 34

Segment analysis (in volume terms): sweet spreads 35

Category analysis: syrups 36

Distribution analysis 37-39

Distribution channel share analysis: syrups & spreads 38

Distribution channel share analysis by category 38-39

Competitive landscape 40-47

Brand share analysis by sector 41

Brand share analysis by category 42-43

Private label share analysis by category 44

Growth of private labels compared to branded products 45

Degree of consolidation/fragmentation by category 46

Health & Wellness 47-51

Health & Wellness trend analysis 48

Health & Wellness market analysis by product attribute 49

Health & Wellness market analysis by consumer benefit 50

Category comparison – with health & wellness and without health & wellness claims 51

Packaging analysis 52-55

Pack material 53

Pack type 54

Closure type 55

Consumergraphics 56-57

South Korea syrups & spreads sector – demographic analysis 57

Macroeconomic analysis 58-64

Economic summary, labor market trends, and demographic trends 62

GlobalData country risk index (GCRI) 63-64

Methodology 65-70

Definitions 71-83

Appendix 84-102

List of Tables

List of Tables

Value and volume share of South Korea in the global and Asia-Pacific syrups & spreads sector, 2017-2022 15

Country snapshot – leading value categories and fastest growing segments 19

Cross category comparison – by value (2012-2022) 21

Cross category comparison – by volume (2012-2022) 23

Per capita consumption (by category), South Korea compared to Asia-Pacific and global levels (in kg), 2017 25

Jams, jellies & preserves – value analysis by segment, 2012-2022 27

Jams, jellies & preserves – volume analysis by segment, 2012-2022 28

Savory spreads – value analysis by segment, 2012-2022 31

Savory spreads – volume analysis by segment, 2012-2022 32

Sweet spreads – value analysis by segment, 2012-2022 34

Sweet spreads – volume analysis by segment, 2012-2022 35

Change in distribution share, 2012-2017 38

Category comparison- with health & wellness and without health& wellness claims, 2012-2017 51

Performance overview (score: 1-100) 64

Category value and volume data, by segment 85-89

Per capita consumption (in kg), 2012-2022 90

Per capita expenditure, 2012-2022 90

Syrups & spreads sales distribution in South Korea – by category, 2017 91

Brand share (in value and volume terms) in the syrups & spreads sector, 2017 92

Brand share (in value and volume terms) in the syrups & spreads sector by category, 2017 93-95

Key health & wellness product attributes driving sales in South Korea, 2012-2022 96

Key health & wellness consumer benefits driving sales in South Korea, 2012-2022 96

Pack material (in million pack units), 2012-2022 97

Pack materials by category (in million pack units), 2017 97

Pack type (in million pack units), 2012-2022 98

Pack types by category (in million pack units), 2017 98

Closure type (in million pack units), 2012-2022 99

Closure types by category (in million pack units), 2017 99

Economic indicators 100-102

List of Figures

List of Figures

South Korea compared to other top countries in terms of market share, growth, and competitive landscape 16

PCC comparison – South Korea, Asia-Pacific, and global, 2012-2022 17

PCE comparison – South Korea, Asia-Pacific, and global, 2012-2022 17

Market size and growth analysis by value and volume, syrups & spreads sector, 2012-2022 20

Cross category comparison – by value growth rate (2012-2022) 21

Change in category share (in value terms), 2017-2022 22

Cross category comparison – by volume growth rate (2012-2022) 23

Change in category share (in volume terms), 2017-2022 24

Market size and growth analysis by value and volume, ‘’jams, jellies & preserves’ category, 2012-2022 26

Market size and growth analysis by value and volume, molasses category , 2012-2022 29

Market size and growth analysis by value and volume, savory spreads category, 2012-2022 30

Market size and growth analysis by value and volume, sweet spreads category, 2012-2022 33

Market size and growth analysis by value and volume, syrups category, 2012-2022 36

Share of key distribution channels, 2017 – syrups & spreads 38

Key distribution channel share by category, 2017 38-39

Leading brands (in value and volume terms) in the syrups & spreads sector, 2017 41

Leading brands (in value and volume terms) by category in the syrups & spreads sector, 2017 42-43

Private label penetration by category(in LCU terms), 2017* 44

Growth analysis, private label and brands, 2017* 45

Category-wise consolidation/fragmentation (in value terms) – syrups & spreads, 2017* 46

Value of health & wellness claims by category, 2017-2022* 48

Contribution of health & wellness by product attributes, 2017-2022 49

Contribution of health & wellness by consumer benefits, 2017-2022 50

Key pack materials in the South Korean syrups & spreads sector, percentage share of pack units, 2017 53

Annual growth rate by key pack material, 2012-2022 53

Use of pack material by category (in pack units), 2017 53

Key pack types in the South Korean syrups & spreads sector, percentage share of pack units, 2017 54

Annual growth rate by key pack type, 2012-2022 54

Use of pack type by category (in pack units), 2017 54

Key closure types in the South Korean syrups & spreads sector, percentage share of pack units, 2017 55

Annual growth rate by key closure type, 2012-2022 55

Use of closure type by category (in pack units), 2017 55

South Korea syrups & spreads sector – demographic analysis 57

Macroeconomic analysis – real GDP and annual growth (%) 59

Macroeconomic analysis – nominal GDP and annual growth (%) 59

Macroeconomic analysis – consumer price inflation (%) 59

Macroeconomic analysis – household consumption expenditure growth (%) 59

Macroeconomic analysis – population (millions) and annual growth (%) 60

Macroeconomic analysis – population by age group (%) 60

Macroeconomic analysis – population by gender (%) 60

Macroeconomic analysis – population by rural-urban split (%) 60

Macroeconomic analysis – employed people (millions) and unemployment rate (%) 61

Five lowest risk nations in GCRI Q3 2016 63

Five highest risk nations in GCRI Q3 2016 63

Country risk analysis – South Korea compared to Asia-pacific and the world 64

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