Boston, MA -- (SBWIRE) -- 06/03/2014 -- Sweet and savoury snacks saw retail value sales growth of 5% to reach Won1,056 billion in 2013. All categories saw positive retail value sales growth in 2013, despite concerns over the high calorie content of products and the use of artificial additives. Extruded snacks remained the largest category in 2013, in accounting for a retail value sales share of 81%, while it also saw the most dynamic retail value sales growth of 5%. A number of brands in extruded snacks enjoy long standing popularity in South Korea and these continued to drive category performance in 2013.
Nong Shim Co Ltd remained the leading player in sweet and savoury snacks in South Korea in 2013, in accounting for a retail value sales share of 26%. The company has maintained this leading position for many years and it continued to offer a wide variety of brands across sweet and savoury snacks, which enjoyed strong distribution through major retailing channels. Brands such as Saewookang and Yangpa Ring have been available in South Korea for decades. Due to growing up with these brands, consumers aged 20-40 remained highly loyal to them.
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Sweet and savoury snack sales in South Korea are expected to see a constant value CAGR of 1% over the forecast period. This positive growth is expected due to continuous popularity of extruded snacks, nuts, in line with increasing health-consciousness, sustainable popcorn sales, and the ongoing introduction of premium snacks by manufacturers over the forecast period.
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The Sweet and Savoury Snacks 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 Sweet and Savoury Snacks in South Korea?
- What are the major brands in South Korea?
- How are manufacturers leveraging health and wellness trends like reduced sugar or organic sourcing?
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