Hot Drinks in South Korea - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-18 09:50:05
The South Korea hot drinks market grew positively in both volume and value terms in 2012. Coffee had the strongest growth in 2012, supporting overall growth of hot drinks in South Korea. Coffee was mainly driven by both growth in the number of consumers and increase in consumption rate per person. Other hot drinks had moderate market size level with a steady growth rate.
Coffee continued to have strong growth and the market showed movement in developing new types of products. In 2012, instant soluble coffee with fresh ground coffee and fresh ground coffee pods gained popularity. These two product types allowed consumers to enjoy premium and scent-preserved coffee at home. The average unit price of both was lower than most chained coffee shops, thus taking share from on-trade coffee value sales.
Green tea saw noticeable decrease in 2012 as it was being replaced by other grain teas such as buckwheat, Solomon´s seal, corn, and yerba mate. Despite the healthy function of containing Vitamin C and catechin, green tea lost value and volume share to other tea and coffee.
Dongsuh Foods Co Ltd led hot drinks in 2012 with its diverse product range in coffee, tea, and other hot drinks. In coffee, the company had the long-standing powerful brand Maxim. In tea, the company holds various types of tea bag products such as green tea, barley tea, Solomon´s seal, etc. Jetty and Mite are also leading brands in other hot drinks. Dongsuh Foods has ten times the market share of the second leading player, NestlÃ© Korea Ltd. NestlÃ© Korea also has various product lines in coffee and other hot drinks, but lacks tea brands.
Hypermarket sales increased in both value and volume, taking share from supermarkets and independent small grocers. Internet retailing grew rapidly as most products were available on-line and also as hypermarkets such as E-Mart sells hot drinks via the internet and even delivers the product directly to consumers´ doorsteps free of charge for certain price levels of purchase. Internet retailing also increased due to sale of directly imported products in premium tea and unique flavoured other hot drink products.
Hot drinks is expected to show healthy growth in the forecast period, with continuing market increase in coffee. In particular, off-trade value will increase by a constant value CAGR of 4% while off-trade volume will grow by 2% CAGR. Coffee market potential will remain strong due to sharply increasing numbers of chained coffee shops and imported coffee volume and value. Other hot drinks is also expected to show positive forecast growth but at a very low level.
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