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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
South Korea Fast Food Market Size
The South Korea fast food market value is expected to grow at a CAGR of 4.6% between 2024 and 2032. Busy lifestyles and the growing number of single households in South Korea are majorly driving the fast food market.
South Korea Fast Food Market Outlook
- In South Korea, approximately 48.8% of Seoul residents consume fast food one to three times a month, while around 23.1% almost never eat fast food.
- The fast food market growth is driven by factors like busy lifestyles, single households, and the appeal of convenience and variety in fast food options.
- South Korea's high urbanisation rate, with 91.8% of its population residing in cities, has significantly contributed to the growth of its fast food market.
- The country has witnessed a significant surge in online food delivery transactions, which reached 25.7 trillion won in 2021, representing a ninefold increase over a four-year period.
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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