New Food market report from Euromonitor International: "Baby Food in South Korea"
Boston, MA -- (SBWIRE) -- 05/30/2014 -- Value sales of baby food is set to see small positive growth of 3% in current terms, to reach Won6 trillion in 2013; despite low birth rates and a preference for breast feeding in South Korea. Milk formula and in particular, standard milk formula leads market growth of baby food in 2013.
Namyang Dairy Products leads the baby food market, with a 50% value share in 2013, its market share increased by one percentage point in the year. Namyang Dairy Products is expected to achieve over Won300 billion sales in baby food in 2013, generating most of its sales from milk formula products. In milk formula, its 55% value share of sales is double that of Maeil Dairies - the manufacturer ranked second in the market. The company ranked first across all categories of milk formula thanks to brand loyalty.
Value sales of baby food in 2013 constant prices are expected to increase by a CAGR of 1% over the forecast period. With breast feeding campaign and the low expected birth rate, it will result in slow growth in baby food and milk formula. As milk formula will continue to be the most popular type of baby food, overall market growth is expected to be in line with milk formula sales.
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Discover the latest market trends and uncover sources of future market growth for the Baby Food industry in South Korea with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Baby Food industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.
The Baby Food in South Korea market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Baby Food in South Korea?
- What are the major brands in South Korea?
- How are latest breastfeeding rates impacting retail performance?
- Are government initiatives to promote breastfeeding constraining market performance?
- What are market opportunities for higher priced functional, organic and ethically sourced baby food?
Reasons to Get This Report
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
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