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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
South Korea Fast food Market Trends
Most of the Korean population now follows the "Honjok" lifestyle, which means staying single. In 2020, 31.7% of people who are in their 20s and 30s preferred single-person households and living an independent life. This has also promoted the trend of "Honbap," which means eating alone. The younger generation is much more inclined toward this lifestyle to push back against family traditions and stereotypes and reshape society. It also leads people to opt for convenience foods, which is positively impacting the South Korea fast food market outlook.
However, consuming fast food frequently is hazardous to health as it increases the chances of developing insulin resistance, which leads to diabetes and weight gain. Many fast food dishes contain a high amount of sugar, which increases empty calorie consumption, and trans-fat disrupts the level of LDL and HDL cholesterol in the body. People who eat fast food are more prone to getting dental caries and skin problems. Moreover, the chance of developing depression is 51% higher among people who consume fast food. Due to all such factors, the emergence of healthy fast food options is gaining traction, which is bolstering the South Korea fast food market growth.
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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