South Korea Breakfast Cereal Market Report and Forecast 2024-2032

South Korea Breakfast Cereal Market Outlook

The South Korea breakfast cereal industry is expected to grow at a CAGR of 6.1% between 2024 and 2032. The South Korea breakfast cereal market is anticipated to see strong growth majorly owing to the increasing awareness regarding its health benefits, increasing demand for ready-to-eat food items, changing dietary habits, rising prevalence of lifestyle diseases, and growing demand for nutrient-rich whole foods in the country.

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Key Trends in the South Korea Breakfast Cereal Market

Cereals or breakfast cereals is a breakfast food made by processing grains such as corn, rice, wheat, oats, and barley, among others. There are two categories of cereal available in the market known as cold cereals, also known as ready-to-eat cereals, and hot cereals. These breakfast cereals were once limited to western nations only, but now they are widely consumed worldwide, including in South Korea.

Ever-growing Demand for Ready-to-Eat Food in South Korea to Propel the Breakfast Cereal Market Growth

Consuming grains is good for health and has become a trend, and the inclination toward convenience food has risen dramatically in South Korea. People lead a hectic lifestyle, which has increased the consumption of processed foods such as breakfast cereals. Moreover, dietary habits have evolved, and people opt for food which doesn’t take much time to prepare as well as eating yet is healthy. The increasing disposable income and higher living standards further propel the South Korea breakfast cereal market development.

Whole Grain Cereals are Gaining Traction in South Korea Breakfast Cereal Market Due to Their High Nutritional Content

With the increasing consumer awareness regarding healthy breakfast, the market for breakfast cereals is growing steadily in South Korea. Breakfast cereals are a good source of protein and a reliable source of folate and other B vitamins. They are a good source  of numerous minerals, including zinc, magnesium, copper, iron, phosphorus, and magnesium as well as phytochemicals and antioxidants which also aid in decreasing blood cholesterol levels. Consuming whole grain meals and cereals can lower your chance of getting conditions including coronary heart disease, cancer, diabetes, and diverticular disease. Many of these are made of refined grains and often contain high sugar levels which often leads to several disorders such as diabetes and many types of cancers. Therefore, the consumption of whole grain cereals is increasing dramatically among the health-conscious consumers of South Korea.

Market Analysis

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Based on products, the South Korea breakfast cereal market is segmented into hot cereal and ready-to-eat cereal. On the basis of distribution channel, the breakfast cereal market of South Korea is divide into supermarkets and hypermarkets, convenience stores, and online, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the South Korea breakfast cereal market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans. 

• Kellogg Company

• Post Consumer Brands, LLC

• Lotte Confectionery Co. Ltd.

• Orion Corp.

• Pulmuone Co., Ltd.

• Others

Market Share by Product

The rising prevalence of lifestyle diseases is expected to propel the market for healthy and low-calorie breakfast cereals in the country, thus both the ready-to-eat and hot cereal segments are expected to hold a significant share of the market. Moreover, the availability of various flavour types aids in attracting consumers, especially the young customer base. Manufacturers now include several other healthy inclusions in breakfast cereals, such as chia seeds and flax seeds, among others, to meet the rising demand as well as promote and keep up with the latest nutrition trend. The launch of a variety of flavours, colours, and shapes motivates customers of all ages to consume breakfast cereals. Such factors will bolster the South Korea breakfast cereal market growth during the projection period.

Market Share by Distribution Channel

Offline stores such as supermarkets, hypermarkets, convenience stores hold a significant segment of the market due to the availability of numerous brands and price range. Online segment on the other hand provides easy door step delivery which attracts working class population the most who don’t have much time to go for grocery shopping. High smartphone usage and easy payment options also boost the growth of breakfast cereal market in South Korea. In addition, the COVID-19 pandemic has made health and well-being important trends in breakfast cereals. Foods that boost immunity and are abundant in vitamins, minerals, and antioxidants are becoming more and more popular with consumers.

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Competitive Landscape

Kellogg Company- Kellogg Company (Kellogg) manufactures and markets ready-to-eat cereal and convenience meals. Cereals, savoury snacks, crackers, toaster pastries, cereal bars, frozen waffles, fruit-flavoured snacks, cookies, and vegetable meals are all included in its product line. The operations of the Kellogg Company are essentially split into two groups: Kellogg North America and Kellogg International. Retail cereal, frozen, retail snacks, and specialised channels companies are all part of Kellogg North America, which operates in both the US and Canada. Businesses throughout Asia Pacific, Europe, Latin America, and Australia make up Kellogg International. The company was founded in 1906 and its headquarters are situated in Battle Creek, Michigan, U.S.A.

Orion Corp.- The company Orion Corp. produces and distributes snacks and beverages. Previously, the business was referred to as Tongyang Confectionery Corporation. Under the Orion Power brand, the company sells pies, snacks, biscuits, candies and jellies, gums, and chocolates, under the Dr. You brand, it sells whole-wheat biscuits, bars, and cookies under the Market O brand, it sells brownies, cheese chips, choco crackers, chocolate products, and chocolate milk and under other brands, such as Marine Boy, Swing, O'gamja, Goute, Choco, and THE Xylit Orion Corp. also invests in, produces, distributes, markets, and sells motion pictures. The headquarter of Orion Corp. is in Seoul, South Korea, and it was founded in 2017.

Key Highlights of the Report