New Food market report from Euromonitor International: "Ice Cream in South Korea"
Boston, MA -- (SBWIRE) -- 06/13/2014 -- Ice cream recovered from negative growth with 1% retail value growth, to reach sales of Won1,783 billion in 2013. The retail volume sales of ice cream still showed negative growth, as it had since 2011, but with a decreasing rate. Ice cream sales tend to be highly influenced by weather conditions. The early summer was warmer and longer in 2013, which had positive influence on ice cream sales.
Lotte Confectionery Co Ltd is ranked as the first company in ice cream with 36% retail value share in 2013. The firm expanded the product portfolio by new product launches of WWWA and Snowtime in single portion dairy ice cream. On the other hand, the company's bulk dairy ice cream brand, Weezzle, experienced a product recall due to hygiene issues in 2012. Accordingly, Lotte Confectionery showed different movement in value share in the two categories in 2013; increase in impulse ice cream versus decrease in take-home ice cream.
Overall ice cream is expected to decrease by 1% CAGR in constant value terms over the forecast period, mainly due to the expected decline of single portion dairy ice cream, from solid positive growth in the review period. This is because more and more consumers are willing to pay premium price for artisanal ice cream brands such as Haagen-Dazs, Natuur and Palazzo del Freddo. Large retailers will try to attract those brands in the form of packaged retail products. However, Baskin-Robbins and Coldstone's, popular made-to-order ice cream shops in South Korea, have not provided packaged products of each brand yet, but will take more shares from retail brands with competitive marketing. Basically ice cream is known to have no expiry date since it is retailed as frozen.
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Discover the latest market trends and uncover sources of future market growth for the Ice Cream 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 Ice Cream industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.
The Ice Cream 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 Ice Cream in South Korea?
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