The Future of Foodservice Industry Insights and Analysis Growth, Major Channels – South Korea

Posted on 2019-06-07 by Mark Hub in Retail // 0 Comments

Albany, US, 2019-Jun-07 — /EPR Network/ —The global market status for Future of Foodservice is precisely examined through a smart research report added to the broad database managed by Market Research Hub (MRH). This study is titled “South Korea – The Future of Foodservice” to 2023, which tends to deliver in-depth knowledge associated to the Future of Foodservice for the present and forecasted period until 2023. Furthermore, the report examines the target market based on market size, revenue and geography; making it quite useful for the readers.

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South Korea – The Future of Foodservice to 2023

Summary
“South Korea – The Future of Foodservice to 2023”, published by GlobalData provides extensive insight and analysis of the Romanian Foodservice market over the next five years (2016-2021) and acts as a vital point of reference for operators or suppliers.

South Korean foodservice profit sector grew at a CAGR of 3.5% between 2016 and 2018 and is set to accelerate slightly to 3.6% over the next five years. Growth in all channels between 2016 and 2018 was driven to a greater extent by growth in transaction numbers than growth in outlet numbers. The OSR channel has a high penetration of chain operators when compared to other restaurant channels. Both locally grown and international operators have significant shares in the QSR channel. Moreover, eating out at FSR for family and social gathering is a norm for the majority of South Koreans. Younger consumers tend to eat at FSR for socializing with friends, whilst older consumers do so for family outings. Group dining yields higher transaction values maintaining revenue growth in the channel.

The report includes –
– Overview of South Korea’s macro-economic landscape: Detailed analysis of current macro-economic factors and their impact on South Korea’s foodservice market including GDP per capita, consumer price index, population growth and annual household income distribution.
– Growth dynamics: In-depth data and forecasts of key channels (QSR, FSR, Coffee & Tea Shops, Pubs, Clubs and Bars) within South Korea’s foodservice market, including the value of the market, number of transactions, number of outlets and average transaction price.
– Customer segmentation: identify the most important demographic groups, buying habits and motivations that drive out-of-home meal occasions among segments of the South Korean population.
– Key players: Overview of market leaders within the four major channels including business descriptions and number of outlets.
– Case Studies: Learn from examples of recent successes and failures within the South Korean foodservice market.

Scope
– Growth can be characterized by a general increase in the countrys economic performance, in the year 2018, which has led to increase in consumer spending for dining out of the South Koreans. Furthermore, demand for convenience by the rapidly growing busier Koreans and the changing lifestyles compelled by increasing workforce and little time to cook food at home along with a rising tendency to eat out more have contributed well to the foodservices profit sector growth in recent years.
– Digital shopping has encouraged consumers to shop smarter, and now this is expected everywhere they visit. McDonald’s South Korea has led the market by introducing digital ordering systems to reduce waiting times and streamline consumer’s visits to outlets.
– Changing taste preferences and a focus on value, quality and innovative products also drove visits to the channel. FSR in South Korea will compete on a variety of quality and value based factors in order to survive.

Reasons to buy
– Specific forecasts of the foodservice market over the next five years (2018-2023) will give readers the ability to make informed business decisions through identifying emerging/declining markets.
– Consumer segmentation detailing the desires of known consumers among all major foodservice channels (QSR, FSR, Coffee & Tea shops, Pubs, Clubs and Bars) will allow readers understand the wants and needs of their target demographics.
– Relevant case studies will allow readers to learn from and apply lessons discovered by emerging and major players within South Korea’s foodservice market.

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Table of Contents
Introduction
Report Guide
Executive Summary
Macroeconomic Context
GDP and Consumer Price Index
Population and demographic highlights
Annual household income distribution
Introducing the Consumer Segments
Consumer segment profiles and key identification metrics
Segment engagement overview in four key profit sector channels
Profit Sector Metrics
Key metric highlights
Value share and growth by channel
Outlets and transactions growth by channel
Operator buying volumes and growth by channel
Channel historic and future growth dynamics
Outlet type and type of ownership growth dynamics
Profit Sector by Channel
Quick Service Restaurants (QSR)
Summary and key take-out
Metrics
Key players
Key consumers
Why?
What?
Where?
What next?
Full Service Restaurants (FSR)
Summary and key take-out
Metrics
Key Players
Key consumers
Why?
What?
Where?
What next?
Coffee and Tea Shops
Summary and key take-out
Metrics
Key players
Key consumers
Why?
What?
Where?
What next?
Pubs, Clubs and Bars
Summary and key take-out
Metrics
Key consumers
Why?
What?
Where?
What next?
Cost Sector Metrics
Cost operator trends – historic and future growth
Data and channel share breakdown
Appendix

Continued………..#@

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