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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
South Korea Fast Food Market Share
Fast foods like Kimbap and fish cakes are highly consumed in South Korea due to their easy availability in local markets
As per South Korea fast food market analysis, the rising prevalence of e-commerce and social media usage has been providing significant impetus to industry growth across the segments. Fast foods such as spicy rice cakes, chicken cup, fish cakes, kimbap, blood sausage, donuts, and Korean pancakes are some of the most well-liked and highly consumed fast foods in South Korea.
Apart from palatability, these food items are quite affordable and widely available in both packaged and freshly prepared forms. The "Honjok" and "Honbap" lifestyles have greatly contributed towards the fast food market growth in South Korea, as people who live in a single household usually prefer eating ready-to-eat, ready-to-cook, and fast food in their day-to-day lives. These lifestyle trends significantly propel the fast food market growth in South Korea.
Quick service restaurants have influenced the South Korea fast food market development due to their speedy service and marketing on social media
South Korea fast food market value is increasing due to the growing consumption via various mediums such as full-service restaurants, quick-service restaurants (QSRs), and catering, among others. Themed events, social media marketing, speedy service, and options for customising food orders are the main features driving the demand for quick-service restaurants in South Korea. Marketing and brand promotion via social media propels sales in all segments of the market.
The growth of the fast food market is significantly aided by the growing trend of "Mukbang". Mukbang motivates people to consume a large amount of food and break the extreme dieting trend among youth. School-going and college students are the major consumers of fast food in restaurants due to their busy schedules and affordability. Moreover, the emergence of healthy fast food is also gaining traction, which is bolstering the market growth in South Korea.
South Korea Fast Food Market Report Snapshots
South Korea Fast Food Market Size
South Korea Fast Food Market Growth
South Korea Fast Food Market Trends
South Korea Fast Food Market Share
South Korea Fast Food Manufacturers
South Korea Fast Food Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market is projected to grow at a CAGR of 4.6% between 2024 and 2032.
The surge of western fast-food chains, the increasing trend of "honjok" and "honbap" lifestyles, the growing number of restaurants, increased use of social media and e-commerce are the major industry drivers.
The rising disposable income, the emergence of coffee culture, busy lifestyles, the prevalence of online transactions and doorstep delivery are the key trends aiding market expansion.
Fast food is popular due to its convenience, affordability, and quick service, catering to busy lifestyles and offering a wide variety of flavourful options.
Provinces considered in the market are North Chungcheong, South Chungcheong, Gangwon, Gyeonggi, North Gyeongsang, South Gyeongsang, North Jeolla, South Jeolla, and Jeju Special Self-Governing Province.
Based on end user, the market is divided into full-service restaurants, quick service restaurants, caterings, and others.
The different type of fast food in the industry are spicy rice cakes, chicken cup, fish cakes, kimbap, blood sausage, donuts, and Korean pancakes, among others.
Key players in the market are Mom’s Touch Global, Lotteria Corporation, Mc Donald’s Corporation, KFC Corporation, Isaac Toast Co., Ltd., Burger King Corporation, and Shake Shack Inc., among others.
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