Boston, MA -- (SBWIRE) -- 05/30/2014 -- Snack bars had positive growth in both value and volume sales of 11% and 5% respectively in 2013. The category has continued to show double-digit growth in value since 2008, reaching Won39 billion. The category is led by granola/muesli bars, which accounted for 70% of total snack bars in retail value.
Orion Crop ranked first with 55% value share in 2013, followed by Haitai Confectionery & Foods. Orion Corp has a very strong brand, Dr You, and dominates the largest category, granola/muesli bars, with 79% value share in 2013. Dr You took up 55% of total snack bar sales in the year. The success of Dr You is from targeting the right consumers. Targeting young consumers, it has continued to renew its packaging and implemented active marketing campaigns to satisfy its main consumers. Strongly positioned as a healthy and energy-boosting snack, Dr You could rebound in market growth.
View Full Report Details and Table of Contents
Constant value sales of snack bars are expected to grow at a CAGR of 10% in the forecast period. The category is still small with only a few brands available. Increasing demand for nutritional snacks to replace a meal in South Korea can attract manufacturers to enter the market as other packaged food categories are reaching maturity in the country.
Discover the latest market trends and uncover sources of future market growth for the Snack Bars 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 Snack Bars industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.
The Snack Bars 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 Snack Bars in South Korea?
- What are the major brands in South Korea?
- Are sales benefitting as consumers look for a healthier alternative to confectionery?
- What are the market opportunities for high fibre products?
- What are the other major snack bars markets globally?
Reasons to Get This Report
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Food research reports at Fast Market Research
You may also be interested in these related reports:
- Snack Bars in South Korea - a Snapshot (2012)
- Snack Bars in South Korea
- The Future of the Bakery & Cereals Market in South Korea to 2017: Market Size, Distribution and Brand Share, Key Events and Competitive Landscape
- The Future of the Bakery & Cereals Market in South Africa to 2017: Market Size, Distribution and Brand Share, Key Events and Competitive Landscape
- The Future of the Bakery and Cereals Market in South Africa to 2017
- The Future of the Bakery & Cereals Market in South Korea to 2017
- Packaged Food in South Africa
- Cereal Bars Market in South Korea: Market Profile to 2017
- Cereal Bars Market in South Africa: Market Profile to 2017
- Packaged Food in South Korea