Navigating Sustainable, Profitable Growth in a Rapidly Changing World

Food and Beverages

South Korea Instant Noodles Market ...

Historical and Forecast Market Trends

2018-34

www.expertmarketresearch.com

Korean Ramen is the national dish and a staple food for people of all ages in Korea. It is often considered a convenient snack option. Its popularity stems from its affordability, widespread availability, and delicious taste, driving the demand for instant noodles in South Korea. The increasing popularity of extra-spicy instant noodles is a key trend in the South Korea instant noodles market. In June 2023, Nongshim Co. launched Shin Ramyun The Red, claiming it to be much spicier than the original.

Further, rising sedentary lifestyles in modern life encourage individuals to shift to the ready-to-eat food. Extended work hours contribute to fatigue and leave little room for relaxation or meal preparation, disrupting healthy dietary habits. Furthermore, shifting household dynamics, including a rise in single-person households, are influencing people's dietary behaviours. Approximately 31.7% of the South Korean population has embraced the "honjok" (by myself) lifestyle, further driving the market growth.

Further, leading companies in the market are focusing on product launches and diversifying their existing range to attract more consumers and increase their revenue. For instance, in December 2023, Nissin launched "Nissin Geki Noodles," a new brand of Korean-flavoured instant noodles, offering an authentic Korean flavour. The noodles come in two varieties namely Korean Veg and Korean Chicken and can be purchased from online stores as well as retail stores.

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Market Breakup by Flavour, Distribution Channel, and Provinces:

  • The market is segmented based on flavour into meat based, vegetarian, Jjajangmyun, and Kimchi, among others.
  • Based on distribution channel, the market can be divided into hypermarkets and supermarkets, specialist stores, convenience stores, and online, among others.
  • Based on provinces, the market is divided into North Chungcheong, South Chungcheong, Gangwon, Gyeonggi, North Gyeongsang, South Gyeongsang, North Jeolla, South Jeolla, and Jeju Special Self-Governing Province.

Key Findings of the Report:

  • Korean Ramen holds a significant place in South Korean cuisine, serving as a staple food and a convenient snack option.
  • The growing popularity of extra-spicy instant noodles is shaping consumer preferences, fueled by social media challenges and cultural folklore.
  • Modern sedentary lifestyles, coupled with extended work hours, drive the demand for ready-to-eat foods like instant noodles.
  • The South Korean instant noodles market is expected to expand with the introduction of new products, shaping the market dynamics.

Key Offerings of the Report:

  • The EMR report gives an overview of the South Korea instant noodles market for the periods (2018-2023) and (2024-2032).
  • The report also offers historical (2018-2023) and forecast (2024-2032) market information for the flavour, distribution channel, and provinces of the South Korea instant noodles market.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the South Korea instant noodles market are Nongshim Co.,Ltd., Ottogi Corporation., Ltd, Samyang Foods Co., Ltd, CJ Cheiljedang Corp, Paldo Inc., Nestlé S.A., and Unilever Group, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Flavour
  • Distribution Channel
  • Provinces
Breakup by Flavour
  • Meat Based
  • Vegetarian
  • Jjajangmyun
  • Kimchi
  • Others
Breakup by Distribution Channel
  • Hypermarkets and Supermarkets
  • Specialist Stores
  • Convenience Stores
  • Online
  • Others
Breakup by Provinces
  • North Chungcheong
  • South Chungcheong
  • Gangwon
  • Gyeonggi
  • North Gyeongsang
  • South Gyeongsang
  • North Jeolla
  • South Jeolla
  • Jeju Special Self-Governing Province
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Nongshim Co.,Ltd.
  • Ottogi Corporation., Ltd
  • Samyang Foods Co., Ltd
  • CJ Cheiljedang Corp
  • Paldo Inc.
  • Nestlé S.A.
  • Unilever Group
  • Others

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