New Beverages market report from Euromonitor International: "Bottled Water in South Korea"
Boston, MA -- (SBWIRE) -- 10/20/2014 -- Bottled water maintained its robust growth in 2013 based on an expanded consumer base and diversified product offerings. It was one of the most dynamic categories within the total soft drinks market and players were eager to capitalise on the booming demand. According to an article from chosun.com, the number of brands of bottled water exceeds 210 with varying degrees of prices, as there is no local regulation to control bottled water prices. Among the multitude of brands and choices, Jeju Samdasoo steadily maintained its leading position due to the high quality of the natural water source on Jeju Island that is impossible to imitate. The price of Jeju Samdasoo is slightly above the standard in bottled water due to its premium image and extra distribution costs from the island to the mainland. In 2013, the brand went through a change in its main distributor to Kwang Dong Pharmaceutical, as well as increased production capacity from May to resolve the undersupply issue during the peak summer months.
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A major issue within bottled water was the change of the distributor for Jeju Samdasoo in December 2012. Jeju Province Development Corporation switched its exclusive retailing contract partner from Nong Shim to Kwang Dong Pharmaceutical. There was concern over the change and the sales of Jeju Samdasoo were negatively affected in the initial months of 2013. Nong Shim launched a new brand of its own to compete against Jeju Samdasoo. The new brand of bottled water was sourced from Mount Baekdoo and was supported by strong promotion, which helped to establish the brand in the market. However, due to strong consumer loyalty towards the existing brand, Jeju Samdasoo began to recover its performance after a few months and ended up as the top selling brand for 2013. As a result, the new distributor, Kwang Dong Pharmaceutical, immediately took the top position in the category as of 2013.
Compared to the robust growth of the review period with a value CAGR of 9% at constant 2013 prices, the forecast value CAGR of 4% in constant value terms is less dynamic. The volume CAGR will be slightly higher than the constant value CAGR, which implies a gradual decline of unit prices.
Discover the latest market trends and uncover sources of future market growth for the Bottled Water 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 Bottled Water industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.
The Bottled Water 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 Bottled Water in South Korea?
- What are the major brands in South Korea?
- How important is the direct selling method of distribution in South Korea for bottled water sales?
- What impact have environmental issues (such as sustainable packaging) had on consumer attitudes, category volumes, packaging formulations and/or product innovation in South Korea?
Reasons to Get this Report
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
Product coverage: Carbonated Bottled Water, Flavoured Bottled Water, Functional Bottled Water, Still Bottled Water.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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Browse all Beverages research reports at Fast Market Research
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