At first glance, Korean breakfast foods aren’t all that different from dishes being served throughout the day. Breakfast menus remain relatively regional, with different provinces known for various dishes. Alongside boiled rice, a typical Korean breakfast might include soups, fish or meat stews, and side dishes called banchan. Banchan are small plates of fermented vegetables, including the most famous Korean dish, kimchi. Market expansion is primarily fueled by consumers' shifting eating patterns and the impact of Western culture on those patterns. With no further preparation required, they offer a practical alternative to readily available meals. The industry is also being driven by rising levels of consumer preference for wholesome meals and global increases in health consciousness. According to the research report "South Korea Breakfast Cereal Market Overview, 2027," published by Bonafide Research, the market is expected to add USD 0.04 Billion by 2027. The breakfast cereal market consists of two types of cereals: Hot cereal and ready-to-eat cold cereal Instant cereal (RTE), also known as cold cereal, includes corn flakes, chocolate flakes, wheat flakes, muesli, and hot cereals, which are mainly oatmeal, oat bran, and porridge. The ready-to-cook segment is presently dominating the market due to the convenience of preparing the food and thus saving time. The hot cereal segment is expected to grow at a higher CAGR during the forecast period due to the growing concern regarding health and wellness among consumers. In addition to this, consumers are shifting toward oats and other hot cereals as a breakfast meal, which is further driving the hot cereal segment. However, the availability of alternative breakfast meals, as well as the high cost of raw materials, is likely to limit the growth of the South Korea breakfast cereal market. Being one of the most advanced countries in the world, South Korea’s eating habits have changed. The influence of Western-style breakfasts like cereals, eggs, and breakfast meats has increased. Throughout the country, a restaurant culture has sprung up, with many Koreans opting for coffee and pastry for breakfast. The demand for convenience food is growing at a faster pace due to changes in social and economic patterns, as well as an increase in urbanization, buying power, awareness of healthy foods, changes in meal patterns and existing food habits, and a desire to taste new products. The population of South Korea was 51.744 Million. There are 25.68 million males and 25.63 million females in South Korea. The percentage of female population is 49.95% compare to 50.05% male population. South Korea has 52.07 thousand more males than females. The GDP of Colombia was USD 1.8 Trillion in 2021. E-mart is the most famous supermarket brand in Korea. Lotte mart includes in the top three supermarkets in Korea. The most popular supermarkets are HomePlus Mart, Costco Seoul, GS25 and many more. Cereal Killer Cafe first invaded London, and then Kellogg's NYC took over Manhattan, and now, is Seoul, South Korea, the latest city to get in on the sugary action. The cereal cafe craze has arrived in South Korea. Midnight in Seoul is one of South Korea's newest cereal cafes, located within the notoriously fancy Gangnam neighborhood, that serves up dozens of various cereals like Oreo-O's, which are discontinued everywhere within the world except for South Korea. There are plenty other childhood favorites up for grabs, though, starting from the common, like Lucky Charms and Trix, to the more obscure, like Koko Krunch, a chocolate-y whole grain cereal, and British Weetos. Covid-19 The COVID-19 pandemic has positively impacted the growth of the breakfast cereal market. Because of the pandemic, people have become more concerned about their overall health, both physical and mental. Due to this, people are now starting to have a healthy breakfast. With this trend expected to continue post-pandemic, breakfast cereal manufacturers are introducing private label products that consumers perceive as more convenient to shop for and cook in, with the added safety of pre-packaged constituents. The pandemic has transformed the way consumers plan their meals. New offerings give people the flexibility to shop conveniently and similarly create healthy meals from scratch. In contrast, consumer and brand awareness has grown, with retailers vying to maintain the highest safety standards while also focusing on quality and sustainability. Besides, COVID-19 has generated multiple opportunities for many private players to emerge in the markets to cater to inflated demand. Considered in this report • Geography: South Korea • Historic year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • South Korea Breakfast Cereal market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product • Hot Cereal • Ready to eat By Ingredient Type • Wheat • Rice • Corn • Oats • Barley • Others By Distribution Channel • Supermarket & Hypermarket • Convenience Stores • E-Commerce/Online • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Breakfast cereal industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
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