Press Release
Press Release
According to a new report by EMR titled, ‘The South Korea Frozen Food Market Report and Forecast 2024-2032’, the market attained a value of nearly USD 2.07 billion in 2023. The market is estimated to grow at a CAGR of 6.7% between 2024 and 2032 to reach USD 3.71 billion by 2032.
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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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.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Products |
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Breakup by End Use |
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Breakup by Distribution Channels |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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