Market Research Report
Top Growth Opportunities: Hot Drinks in South Korea
|Published by||GlobalData||Product code||791900|
|Published||Content info||78 Pages
Delivery time: 1-2 business days
|Top Growth Opportunities: Hot Drinks in South Korea|
|Published: February 13, 2019||Content info: 78 Pages||
The South Korean hot drinks sector ranks seventh in terms of per capita expenditure in US dollar terms, just above India, China, and Malaysia. Furthermore, the per capita expenditure in South Korea is expected to grow at a CAGR of 5.9% during 2017-2022.
This growth can be attributed to a large, young population base (20.3% of the population aged 20-34 in 2017) in the country who are experimental in nature and increasingly seeking innovative flavors and varieties of products. This is driving manufacturers to launch unusual flavors in hot drinks. Moreover, with changing lifestyles and increasing health consciousness, consumers are also looking for 'better-for-you' healthy hot drinks options labeled with health & wellness claims.
The report "Top Growth Opportunities: Hot Drinks in South Korea", provides an overview of the Hot Drinks market, analyzing market data, demographic consumption patterns within the category, and the key consumer trends driving consumption. The report uses Risk vs Reward Opportunity model to pinpoint the best growth opportunities for Hot Drinks producers, suppliers and retailers by combining robust, granular data and expert insight. The report identifies the best opportunities, analyzes white spaces in the market, and outlines new product development that will effectively target the most pertinent consumer need states. These are combined to offer strategic recommendations to capitalize on evolving consumer landscapes.
The report brings together consumer analysis and market data to provide actionable insight into the behavior of South Korea Hot Drinks consumers. This is based on unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivators in the Hot Drinks sector. Category, brand, and packaging dynamics are also examined. This allows product and marketing strategies to be better aligned with the leading trends in the market.
Companies mentioned: Ajinomoto Group, Nestle SA, Jacobs Douwe Egberts, Jardin Cafe Solution S.A., McNulty`s Tea & Coffee Co., Namyang Dairy Products Co, Amorepacific Corporation, Dongsuh, Lotte Co., Ltd., Ottogi Co, Ltd.