Food and Grocery Retailing Industry Analysis in South Korea Market Trend, Growth, Summary & Forecasts 2019
Food and grocery accounted for 52.1% of total market retail sales in 2014. From KRW150,730 billion in 2014, the food and grocery retail market is anticipated to grow at a CAGR of 5.2% over the forecast period, to reach KRW194,180 billion by 2019. Rising disposable income, an ongoing trend of rapid urbanization, rapid adoption of private label brands, increasing competition among retailers, and an increasing number of women in the workforce will transform the consumption pattern among consumers.
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