New Food market report from Euromonitor International: "Other Dairy in South Korea"
Boston, MA -- (SBWIRE) -- 06/11/2014 -- In 2013, value sales of other dairy is expected to decrease by 4%; falling to Won21 billion. The decline has slowed, but most products are suffering from low market demand. The small size of the market means manufacturer investment is minimal. The largest categories in other dairy are condensed/evaporated milk and coffee whiteners, which make up 63% and 37% of value sales respectively. Local consumers use condensed/evaporated milk in many different ways, including substituting cream or coffee whiteners with it and as an ingredient for 'Patbingsu', which is a traditional shaved ice dessert with sweet toppings including red bean, chopped fruit, condensed milk and etc.
Seoul Dairy Cooperative will maintain its dominance in other dairy, with a 49% value market share in 2013. Local consumers habitually select the company's condensed/evaporated milk, as it was the first brand that introduced condensed/evaporated milk products in South Korea and is popular with older generations who use it as a substitute to milk. For old consumers between the age of 40 and 70, the brand appeals to them thanks to its history in the market.
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Over the forecast period value sales of other dairy is predicted to decline at a CAGR of -5%, at constant 2013 prices. The volume CAGR of coffee whiteners and condensed/evaporated milk will be -4% to -5% respectively. On top of this, coffee whitener unit prices will declined over the forecast period.
Discover the latest market trends and uncover sources of future market growth for the Other Dairy 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 Other Dairy industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.
The Other Dairy 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 Other Dairy in South Korea?
- What are the major brands in South Korea?
- How are volatile farmgate prices for milk impacting retail prices and sales performance?
- Given mounting obesity concerns, are consumers moving from full-fat to reduced fat/fat-free offerings?
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