South Korea Pasta & Noodles – Market Assessment and Forecasts to 2025
Powered by
All the vital news, analysis, and commentary curated by our industry experts.
The South Korean pasta & noodles sector was valued at $2.4 billion in 2020 and the market is projected to grow at a CAGR of more than 2% during 2021-2025. In 2020, Seoul emerged as the largest pasta & noodles market in South Korea, followed by Busan and Incheon. The pasta & noodles market in Incheon recorded the fastest growth during 2015-2020, while Seoul recorded the slowest growth during the same period. The value share of South Korea in the global market and in the Asia-Pacific market is expected to decrease during the forecast period.
Overview of pasta & noodles sector in South Korea
For more insights on this report, download a free report sample
What are the market dynamics of the pasta & noodles sector in South Korea?
The key distribution channels in the South Korean pasta & noodles sector include convenience stores, hypermarkets & supermarkets, food & drinks specialists, e-retailers, cash & carries & warehouse clubs and others. Hypermarkets & supermarkets is the leading distribution channel in the South Korean pasta & noodles sector. It accounted for a value share of more than 60% of the distribution channels followed by e-retailers, and convenience stores.
Dried pasta is the most consolidated category in the South Korean pasta & noodles sector, with the top three companies accounting for a combined value share of more than 80% in 2020. However, the top three companies in the dried & instant noodles category accounted for a value share of over 65% which is below the average share of more than 70% across the categories.
The key pack materials in the South Korean pasta & noodles sector include flexible packaging, rigid plastics, paper & board, and rigid metal. Flexible packaging is the leading material used in the South Korean pasta & noodles sector, which accounted for a share of more than 95% in 2020, followed by paper & board, rigid metal, and rigid plastics. Paper & board is expected to register growth at a CAGR of more than 3% during the same period.
What are the key categories of the South Korean pasta & noodles sector?
The key categories in the South Korean pasta & noodles sector include ambient noodles, ambient pasta, chilled noodles, chilled pasta, dried & instant noodles, and dried pasta. Dried & instant noodles was the largest category in both volume and value sales, in 2020 followed by chilled noodles, and dried pasta. The ambient pasta category is forecast to register the fastest volume and value growth, during 2020-2025, followed by chilled pasta and dried pasta.
In terms of per capita consumption, dried & instant noodles led the South Korean pasta & noodles sector in 2020, followed by chilled noodles and dried pasta. However, per capita consumption of ambient noodles, chilled noodles, and dried & instant noodles was higher in South Korea compared to both the regional and global levels in the same year. Furthermore, per capita consumption of ambient pasta and chilled pasta category was higher in South Korea than at the regional level, but lower when compared to the global level. However, per capita consumption of dried pasta was lower in South Korea as compared to both the regional and global levels in the same year.
South Korea pasta & noodles sector, key categories
For more segment insights, download a free report sample
Which are the major companies in the South Korean pasta & noodles sector?
The leading companies by value in 2020 include Nongshim Co. Ltd, Ottogi Co Ltd, Yakult Honsha, Sam Yang Foods Co. Ltd, and Daesang. In terms of both value and volume, Nongshim Co Ltd. was the leading company, followed by Ottogi Co Ltd, Yakult Honsha, Sam Yang Foods Co. Ltd, and Daesang. Nongshim Co Ltd. held a value share of more than 50% and a volume share of over 50%, in 2020. All the top companies offer products in the dried & instant noodles category, while Ottogi Co Ltd also offers products in the dried pasta category.
South Korea pasta & noodles sector, key players
To know more about key players, download a free report sample
Market report scope
Market Size (Year – 2020) | $2.4 billion |
Growth | CAGR >2% during 2021-2025 |
Forecast Period | 2021-2025 |
Key Companies | Nongshim Co Ltd, Ottogi Co Ltd, Yakult Honsha, Sam Yang Foods Co. Ltd, and Daesang |
Key Categories | Ambient noodles, ambient pasta, chilled noodles, chilled pasta, dried & instant noodles, and dried pasta |
Scope
This report provides an overview of the South Korean pasta & noodles sector. It provides:
- Per capita consumption and per capita expenditure of pasta & noodles was higher in South Korea than both the global and regional levels in 2020.
- South Korean consumers prefer value-for-money products in the pasta & noodles sector.
- The per capita consumption of dried & instant noodles was higher than other pasta & noodles categories in South Korea in 2020.
- Dried noodles were the most consumed category across leading cities in South Korea.
- In 2020, the contraction of the economy was curtailed by a surge in exports and stimulus efforts.
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 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.
Ottogi Co Ltd
Ottogi Co Ltd
Yakult Honsha
Sam Yang Foods Co. Ltd
Daesang
Pulmuone Co.,ltd.
Sempio Foods Company
Firma italia S.p.A.
THAITAN Foods International Co. Ltd.
Table of Contents
Table
Figures
Frequently asked questions
-
What was the market size of the South Korean pasta & noodles sector in 2020?
The market size of the South Korean pasta & noodles sector was valued at $2.4 billion in 2020.
-
What is the growth rate of the South Korean pasta & noodles sector?
The South Korean pasta & noodles sector is expected to grow at a CAGR of more than 2% during 2021-2025.
-
What are the key categories of the South Korean pasta & noodles sector?
The key categories in the South Korean pasta & noodles sector include ambient noodles, ambient pasta, chilled noodles, chilled pasta, dried & instant noodles, and dried pasta.
-
Which are the major companies in the South Korean pasta & noodles sector?
The leading companies in the South Korean pasta & noodles market are Nongshim Co Ltd, Ottogi Co Ltd, Yakult Honsha, Sam Yang Foods Co. Ltd, and Daesang.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.