Boston, MA -- (ReleaseWire) -- 06/09/2014 -- Noodles in South Korea saw retail value sales growth of 1% to reach Won2,686 billion in 2013. Instant noodles continued to dominant noodle retail value sales in 2013, in accounting for a retail value sales share of 80%. Meanwhile, snack noodles and frozen noodles remained relatively small categories in South Korea, although the latter saw more dynamic retail value sales growth than instant noodles in 2013.
Nong Shim Co Ltd remained the leading player in noodles in 2013, in accounting for a retail value sales share of 53%. The company has been historically strong in noodles, due to having several popular instant noodle brands. As instant noodles continued to account for a dominant share of noodle retail value sales in 2013, Nong Shim continued to dominate noodles as a whole. The company was also active in introducing new brands to maintain its leading position. In 2013, Nong Shim added the new premium brand, Vegetable Ramyun. The product was highlighted as having the lowest calorie count of any instant noodle product, due to being dried rather than oiled. As instant noodles saw a stagnation of retail volume sales in 2013, the company plans to add more premium instant noodle products to its portfolio over the forecast period, in order to supplement its retail value sales and defend its leading position in noodles.
View Full Report Details and Table of Contents
Noodles in South Korea is expected to see a 2% decline in both retail volume and value sales over the forecast period. This will be mainly driven by demographic changes. According to Korean Statistical Information Service, South Korea population aged 10 to 30 continues to decrease, where this is the main consumer segment for instant noodles. As instant noodles take largest portion of noodles market, the decline in population of main consumers will affect the market performance.
Discover the latest market trends and uncover sources of future market growth for the Noodles 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 Noodles industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.
The Noodles 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
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:
- The Future of the Pasta and Noodles Market in South Korea to 2017: Market Size, Distribution and Brand Share, Key Events and Competitive Landscape
- The Future of the Pasta and Noodles Market in South Africa to 2017: Market Size, Distribution and Brand Share, Key Events and Competitive Landscape
- The Future of the Pasta and Noodles Market in South Korea to 2017
- The Future of the Pasta and Noodles Market in South Africa to 2017
- Ambient Noodles Market in South Africa: Market Profile to 2017
- Ambient Noodles Market in South Korea: Market Profile to 2017
- Dried and Instant Noodles Market in South Korea: Market Profile to 2017
- Dried and Instant Noodles Market in South Africa: Market Profile to 2017
- Chilled Noodles Market in South Korea: Market Profile to 2017
- Chilled Noodles Market in South Africa: Market Profile to 2017