Boston, MA -- (ReleaseWire) -- 06/09/2014 -- Cheese producers have turned their interest to adults after saturation has occurred in the children's market. More consumers in South Korea like to have cheese together with alcohol. Increasing popularity of French dining and drinking wine is also leading to an increased cheese market potential for adults.
In 2013, Seoul Dairy Cooperative is expected to maintain 42% of value sales. The market share of Namyang Dairy Products is expected to decline to 22%, a fall of one percentage point due to the impact of unfair business scandal of the company. Consumers boycotted the company's products after a group of wholesalers for Namyang reported to the public that the company is forcing its sales agents to buy more products than they needed and the products were closed to their expiry date.
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The growing demand for high-quality, natural cheese will support robust value sales over the forecast period. Unprocessed cheese is expected to grow at a CAGR of 9%, in constant 2013 prices, whereas processed cheese is anticipated to achieve a CAGR of 3% over the forecast period. As processed cheese products become more natural in flavour, sales will increase.
Discover the latest market trends and uncover sources of future market growth for the Cheese 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 Cheese industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.
The Cheese 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 Cheese in South Korea?
- What are the major brands in South Korea?
- Given mounting obesity concerns, are consumers moving from full-fat to reduced fat/fat-free offerings?
- Are consumers moving from unpackaged to packaged cheese?
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Product coverage: Processed Cheese, Unprocessed Cheese.
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