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Delhi, New Delhi, India, 2008/03/17 - A recent report by RNCOS gives an insight into the South Korean food, beverages and tobacco industry and identifies organic and processed food industry as the area with high growth potential.
A recent report by the top market research company RNCOS, “South Korean Food, Beverages and Tobacco Market Forecast till 2011", has find out that South Korea, the third largest economy of Asia, is becoming increasingly advanced in its food consumption patterns.
The in-depth and methodical analysis conducted by the report on the food market of South Korea provides a comprehensive overview of the consumption habits of South Koreans in different food segments, such as fruit, vegetable, milk, meat, confectionary etc. The detailed study of all segments of the food market in South Korea observes that South Korea consumes high quantity of meat. The report provides an estimate of per person meat consumption in the nation and tries to identify the reason for exceptionally high meat consumption in the country. As per the report, meat consumption in South Korea will remain high in future as compared to any other food segment.
Fruit is the next sector in South Korea after meat that will witness high demand in coming years says Analyst at RNCOS. According to the report, fruit intake in the country has been on the rise ever since 2003 and in near future, this increase will persist. The report also takes into account factors such as altering taste preferences and growing health consciousness amongst the South Koreans that will be responsible for this rise in fruit consumption.
All these factors are responsible for the rising need for all kinds of organic and processed food products in the country. After studying their present situation, the report maintains that these industries have evolved as the pool of opportunities for both national and foreign players. It observes the effects of rapidly changing ways of South Korean lifestyle and the progressively growing number single-person families that are giving rise to the demand for processed food in the country.
It also recommends fields where there are enormous opportunities for processed food products and which particular retail formats can reap benefits in coming years, thanks to the growing sale of processed food.
“South Korean Food, Beverages and Tobacco Market Forecast till 2011” has been prepared to help clients in examining the prospects, challenges and factors essential for the development of the industry in this East Asian nation. The comprehensive report provides an overview of the key companies (both national and international) in the food and beverages industry in South Korea.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.