South Korea Frozen Food Market to Grow at a CAGR of 6.7% During 2024-2032, Aided by the Increasing Increasing Popularity of Convenience Food

The South Korea frozen food market growth is driven by the rising popularity of convenience food and easy-to-cook options among people. The market is positively influenced by the advances in freezing processes and improvements in packaging technology. The frozen food market in South Korea is expanding rapidly due to a societal shift towards solo living and dining. Microwavable dishes are particularly favoured by students and working mothers for their convenience. Key drivers of this growth include the convenience offered by frozen foods, attractive pricing, and changing food preferences and rising disposable incomes.

Fig: South Korea Total Households Disposable Income, 2018-2023

The market benefits from the recognition of frozen foods as a safe and healthy food option by regulatory bodies. Flash-freezing at low temperatures preserves food texture and nutrients, extending freshness. Blanching before freezing helps retain carotenoids and flavonoids in vegetables. Frozen foods are preferred for their natural preservation, avoiding the need for preservatives used in canning and drying.

Frozen food offers affordability and convenience, appealing to busy professionals, particularly women, helping them save time on preparation. Limited arable land in South Korea makes frozen options essential for accessing a variety of foods.

The rise in demand for convenience, driven by an ageing population, also supports the sales of frozen foods. Consumers prefer quick and easy meal options, benefiting individuals without domestic help.

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Market Breakup by Type, Products, End Use, and Distribution Channels:

• The market is segmented based on type into ready-to-drink, ready-to-eat, and ready-to-cook, among others.

• Based on products, the market can be divided into frozen meals, frozen seafood, meat, and poultry, frozen fruits and vegetables, frozen potatoes, frozen soup, and dairy products, among others.

• On the basis of end use, the market is categorised into food service industry and retail.

• By distribution channels, the market is segmented into supermarkets and hypermarkets, convenience stores, and online channels, among others.

Key Findings of the Report:

• Manufacturers use retort pouches to preserve food for up to a year without added preservatives, ensuring taste and nutrition. Frozen meals employ quality-preserving packaging techniques for freshness and quality.

• Increasing disposable income, longer shelf life products, and impulse buying drive the rising demand for frozen food products.

• The frozen food market has expanded beyond raw items to include prepared meals, vegetable mixes, baked goods, and desserts.

• Rising demand for convenience food and improved packaging drives growth in the frozen food market, spurred by an ageing population seeking quick and easy meal options.

Key Offerings of the Report:

• The EMR report gives an overview of the South Korea frozen food market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the type, products, end use, and distribution channels of frozen food in South Korea.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the South Korea frozen food market are CJ CheilJedang Corp., Nongshim Co.,Ltd., Dr.Chung’s Food Co.,Ltd, SPC GFS CO. LTD, Daesang Corporation, and Taejong FD Co., Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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