2013-02-20 05:26:13 - Fast Market Research recommends "South Korea Food & Drink Report Q1 2013" from Business Monitor International, now available
Despite widespread calls for a bottoming out in South Korea's economy, we believe the worst is yet to come. Indeed, forward-looking macro indicators suggest to us that economic weakness is likely to persist well into 2013. We expect real GDP growth to come in at 3.0% in 2013, which remains below consensus' expectations of 3.4%. The domestic property market is likely to remain weak amid the bleak economic landscape. A supply overhang and the country's perennial household debt situation are also likely to keep downward pressure on prices. All this bodes ill for private consumption.
Headline Industry Data (local currency)
* 2013 per capita food consumption = +2.9%; forecast to 2017 = +27.1%.
* 2013 alcoholic drink value sales = +2.8%;
forecast to 2017 = +27.6%.
* 2013 soft drink value sales = +4.3%; forecast to 2017 = +31.8%.
* 2013 mass grocery retail sales = +6.2%; forecast to 2017 = +52.6%.
Key Industry Trends And Developments
Nong Shim Hit by Noodle Ban: In autumn 2012 the Korea Food and Drug Administration said that health department tests found that noodles made by Korean food giant Nong Shim did possess safe amounts of the 'benzopyrene' chemical. The Philippines had ordered the recall of six brands of Nong Shim noodles in October but the government is being urged to lift the noodle ban. In a statement, the South Korean Embassy said the ban was 'seriously impacting both Philippine and Korean traders, as well as the image of Koreamade noodles'.
Full Report Details at
- www.fastmr.com/prod/536496_south_korea_food_drink_report_q1_2013 ..
Korean Households Cut Back on Retail Spending: In October 2012 the South Korean Ministry of Knowledge Economy released figures showing that sales at department stores controlled the country's leading three retailers fell by 0.4% from a year earlier. The top three retailers include Hyundai, Lotte Shopping and Shinsegae. The drop compared with a 1.3% decrease predicted by the ministry and a 0.8% drop in September.
Risks To Outlook
Should we see a sharper-than-expected downturn in the global economy or even an implosion in South Korea's household debt market, we would certainly expect to see a substantial weakening in the country's exports sector, which, in turn may push the economy into a pronounced recession.
Report Table of Contents:
BMI Industry View
- BMI Industry View
- Mass Grocery Retail
- Industry Forecast Food
- Table: Food Consumption Indicators, Historical Data and Forecasts 2010-2017
- Table: Canned Food Historical Data and Forecasts 2010-2017
- Table: Confectionery Historical Data and Forecasts 2010-2017
- Table: Sugar Confectionery Historical Data and Forecasts 2010-2017
- Table: Processed Meat Historical Indicators and Forecasts 2010-2017
- Table: Preserved Fish Historical Indicators and Forecasts 2010-2017
- Table: Oils and Fats Historical Indicators and Forecasts 2010-2017
- Table: South Korea Food and Drink Trade Indicators, Historical Data and Forecasts 2010-2017
- Industry Forecast Drink
- Table: Hot Drinks Value Sales Historical Data and Forecasts 2010-2017
- Table: Alcoholic Drinks Value Sales Historical Data and Forecasts 2010-2017
- Table: Soft Drinks Value Sales Historical Data and Forecasts 2010-2017
- Table: Carbonates Historical Data and Forecasts 2010-2017
- Table: Bottled Water Historical Indicators and Forecasts 2010-2017
- Industry Forecast Mass Grocery Retail
- Table: South Korea MGR Indicators, Sales Value by Format, Historical Data and Forecasts 2010-2017
- Table: Retail Sales By Format
Industry Risk Reward Ratings
- Asia Food & Drink Risk/Reward Ratings
- Table: Food & Drink Risk/Reward Sub-Factor Ratings, Q113 (score out of 10)
- Table: Asia Pacific Food & Drink Risk/Reward Ratings Q113
- Market Overview Food
- Market Overview Drink
- Market Overview Mass Grocery Retail
- Table: Table: Estimated Number Of MGR Outlets
- Table: Table: MGR Sales Value (US$bn)
- Table: Table: MGR Sales Value (KRWbn)
- Table: Table: Average Sales Per Outlet By Format, 2010
Industry Trends And Developments
- Industry Trends And Developments Food
- Industry Trends And Developments Drink
- Industry Trends And Developments Mass Grocery Retail
- Competitive Landscape Food and Drink
- Table: Key Players In South Korea's Food Sector
- Table: Key Players In South Korea's Drink Sector
Competitive Landscape Mass Grocery Retail
- Table: Key Players In South Korea's MGR Sector
- Maiel Dairy Industry
- Nong Shim
- Hite Brewery
- Oriental Brewery
- Lotte Shopping
- Samsung Tesco HomePlus
Global Industry Overview
- Global Food & Drink Core Views
- Table: Core Views
- Food & Drink
- Mass Grocery Retail
Risk/Reward Ratings Methodology
- Table: Rewards
- Table: Risks
- Table: weighting
- Demographic Forecast
- Table: South Korea's Population By Age Group, 1990-2020 ('000)
- Table: South Korea's Population By Age Group, 1990-2020 (% of total)
- Table: South Korea's Key Population Ratios, 1990-2020
- Table: South Korea's Rural And Urban Population, 1990-2020
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