South Korea Meat Market Analysis and Forecasts, 2015-2025 – Analyzing Product Categories and Segments, Distribution Channel, Competitive Landscape, Packaging and Consumer Segmentation
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The meat market in South Korea was valued at $21.7 billion in 2020 and is projected to register a growth of more than 2%, during the forecast period 2021 to 2025. Per capita expenditure on meat stood at was higher than both the global and the regional levels. Fresh meat (counter) was the largest category in 2020, followed by chilled raw packaged meat – whole cuts, chilled raw packaged meat – processed, cooked meats – packaged, cooked meats – counter, ambient meat, and frozen meat. The frozen meat category is forecast to register the fastest value growth followed by fresh meat (counter) and cooked meats – packaged.
Overview of the meat market in South Korea
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What are the market dynamics in the meat market in South Korea?
Seoul emerged as the largest meat market in South Korea, accounting for more than 18% volume share in 2020, followed by Busan and Incheon respectively, in the same year. The meat market in Incheon recorded the fastest growth with a CAGR of more than 2%, during 2015-2020, while Busan recorded the slowest growth during the same period. In South Korea, the consumption of meat is higher among males than females. Hypermarkets & supermarkets was the largest distribution channel in the South Korean meat sector. Rigid plastics is the most used pack material in the South Korean meat sector, followed by flexible packaging and rigid metal.
In 2020, fresh meat (counter) was the leading category in volume terms, while the frozen meat category is forecast to register the fastest volume growth during 2020-2025. The frozen meat category is expected to gain maximum market share in value terms during the forecast period. The cooked meats packed category is expected to gain the most market share in volume terms during 2020-2025. The ambient meat category products with health & wellness claims grew at a higher CAGR than products without health & wellness claims during 2015-2020.
Meat market in the East-Asia, in 2020
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What are the category classifications in the South Korean meat market?
Fresh meat (counter) led the South Korean meat sector in terms of per capita consumption in 2020, followed by chilled raw packaged meat – whole cuts and chilled raw packaged meat respectively. However, per capita consumption of ambient meat, chilled raw packaged meat – processed, cooked meats – counter, cooked meats – packaged, chilled raw packaged meat – whole cuts and fresh meat (counter) was higher in South Korea compared to both regional and global levels in the same year. Furthermore, the per capita consumption of frozen meat was lower in South Korea than at the global and regional levels in the same year.
Meat market in South Korea, by category
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Who are the major players in the South Korean meat market?
In 2020, Agriculture Corporation Donmaru Co. Ltd. led the meat market of South Korea followed by, Harim Corporation, CJ Cheiljedang Corp, Lotte Co. Ltd, and Dongwon Group. Agricultural Corporation Donmaru Co., Ltd. accounted for a value share of more than 1% in 2020.
Meat market in South Korea, by key players
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Market report scope
Market size (Year – 2020) | $21.7 billion |
Growth rate | CAGR of >2% from 2021 to 2025 |
The base year for estimation | 2020 |
Forecast Period | 2021-2025 |
Segmentation by category | Ambient meat, Chilled raw packaged meat – processed, Chilled raw packaged meat – whole cuts, Cooked meats – counter, Cooked meats – packaged, Fresh meat (counter), and Frozen meat |
Key players | Agriculture Corporation Donmaru Co. Ltd., Harim Corporation, CJ Cheiljedang Corp, Lotte Co. Ltd, and Dongwon Group |
Scope
The report provides an in-depth analysis of the following:
- Per capita consumption and per capita expenditure of meat was higher in South Korea than on a global and regional level in 2020.
- Hypermarkets & supermarkets was the largest distribution channel in the South Korean meat sector.
- Fresh meat (counter) was the leading category in volume terms across the top seven cities in the South Korean meat sector in 2020.
- In South Korea, consumption of meat is higher among males than females.
- Rigid plastics is the most used pack material in the South Korean meat sector, followed by flexible packaging and rigid metal.
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 company share analysis to plan effective market positioning.
- Our team of analysts has 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 an economic summary of the country along with the labor market and demographic trends.
Harim Corporation
CJ CheilJedang Corp.
Lotte Co. Ltd.
Dongwon Group
Hormel Foods Corporation
Ottogi Co Ltd
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Frequently asked questions
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What is the market size of the South Korean meat market in 2020?
The market size of the South Korean meat market was valued at $21.7 billion in 2020.
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What is the growth rate of South Korea’s meat market?
South Korea’s meat market is expected to grow at a CAGR of more than 2% from 2021 to 2025.
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What are the key categories in the South Korean meat market?
The key categories in the South Korean meat market include fresh meat (counter), chilled raw packaged meat – whole cuts, chilled raw packaged meat – processed, ambient meat, frozen meat, cooked meats – packaged, and cooked meats – counter.
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Who are the key players in the South Korean meat market?
The key players in the South Korean meat market are Agriculture Corporation Donmaru Co. Ltd., Harim Corporation, CJ Cheiljedang Corp, Lotte Co. Ltd and Dongwon Group.
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