Chocolate Market- South Korea
Market Statistics
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 2.98% (2024-2032)
The shift in consumer preferences for more indulgent and diverse confectionery options represents one of the key factors propelling the market growth in South Korea. According to the latest report by IMARC Group, the South Korea chocolate market size is projected to exhibit a growth rate (CAGR) of 2.98% during 2024-2032.
South Korea Chocolate Industry Trends and Drivers:
Growth of the Confectionery Market in South Korea
Key Factors Propelling Market Growth:
- Shift in consumer preferences for indulgent and diverse confectionery options.
- Increased demand for chocolate influenced by Western culture.
- Chocolate portrayed in movies, television shows, and advertisements as a symbol of indulgence, pleasure, and luxury.
Availability of Chocolate Types and Varieties:
- Wide range of chocolate types available, including milk, dark, and white chocolate.
- Flavors and formats that encourage consumer experimentation and new experiences.
- Local flavors such as green tea, red bean, and matcha are being infused into chocolates.
Textures and Repeat Purchases:
- Chocolates with unique textures (e.g., added nuts, fruits, or crispies) are driving repeat purchases.
- These innovations are stimulating market growth in South Korea.
Accessibility and Distribution Channels:
- Proliferation of convenience stores, supermarkets, and hypermarkets is making chocolate more accessible.
- The thriving e-commerce sector allows consumers to:
- Purchase a broader range of products from the comfort of their homes.
- Browse local and international brands, specialty chocolates, and limited-edition products.
Health-Conscious Trends:
- Consumers are increasingly health-conscious, leading to:
- A growing preference for chocolates with health benefits, such as high cocoa content, lower sugar, or added nuts and fruits.
- Dark chocolate gaining popularity due to its perceived health benefits, such as:
- Antioxidant properties.
- Lower sugar content compared to milk chocolate.
Marketing and Brand Engagement:
- Brands leveraging social media platforms to engage with consumers, promote new products, and foster brand loyalty.
- Creative marketing campaigns, influencer partnerships, and user-generated content are raising awareness.
- These digital strategies are attracting younger consumers, who are influenced by online trends and digital engagement.
Impact of Digital Presence:
- A strong digital presence is enhancing brand visibility.
- This contributes significantly to the overall market growth in South Korea.
Download sample copy of the Report: https://www.imarcgroup.com/south-korea-chocolate-market/requestsample
South Korea Chocolate Industry Segmentation:
The report has segmented the market into the following categories:
Type Insights:
- Milk/White Chocolate
- Dark Chocolate
Product Type Insights:
- Softlines/Selflines
- Boxed Assortments
- Countlines
- Seasonal Chocolates
- Molded Chocolates
- Others
Distribution Channel Insights:
- Supermarkets and Hypermarkets
- Specialty Retailers
- Convenience/Grocery Stores
- Online Retail Stores
- Others
Regional Insights:
- Seoul Capital Area
- Yeongnam (Southeastern Region)
- Honam (Southwestern Region)
- Hoseo (Central Region)
- Others
Request for customization: https://www.imarcgroup.com/request?type=report&id=14252&flag=E
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Crown Confectionery
- Ferrero Asia Limited
- Mars Incorporated
- Orion Corporation
- Perfetti Van Melle BV
- The Hershey Company
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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