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The South Korea instant coffee Market is expected to grow at a CAGR of 5.4% between 2023 and 2028. Instant coffee is a desirable consumer product in the coffee industry because of its convenience, long shelf life, and branded experience.
Instant coffee is prepared from coffee beans and is made by roasting, grinding, and drying coffee beans to give them a longer shelf life. Instant coffee is a coffee that dissolves instantly in water, making it quick and easy to prepare. A teaspoon of instant coffee and hot water are all that is needed to blend it. Instant coffee is useful enough to have in the cupboard because it is also a common component in baking.
Coffee consumption has increased in recent years along with the growth of the working population. The growth of the instant coffee market drew several market participants to the coffee sector, resulting in a highly fragmented instant coffee market. competitors to develop new goods, tastes, and packaging that will draw in new customers and keep the ones they already have. New tastes including green bean, hazelnut, macha, caramel, Italian roast, mint, and French vanilla, among others have been released by market participants. Similar to this, companies have produced tiny sachets to lower the price of instant coffee. Coffee producers are creating coffee flavours that are tailored to Korean consumers' local tastes and preferences, which is augmenting the growth of the South Korea instant coffee market.
People today want healthy goods and do not want to compromise on their coffee quality, even when they have busy schedules. Several nutrients and antioxidants may be found in instant coffee. It aids in boosting metabolism, promoting brain function, improving liver health, and lowering illness risk. Instant coffee is also beneficial to longevity and mental health improvement. With less caffeine and more antioxidants, instant coffee variations are also getting healthier. In some ways, instant coffee may be healthier than fresh coffee. Since decaffeinated instant coffee is also available, it might be a great alternative for customers who enjoy the flavour and health advantages of coffee but find it difficult to tolerate the side effects of caffeine. These health benefits help attract health-conscious customers, thus promoting the consumption of instant coffee among the masses.
Instant coffee is said to have a longer shelf-life than regular coffee. Some claim that instant coffee may survive for 2–20 years when properly stored, which is in an airtight container or sealed packaging in a cold, dry location. Instant coffee packets that have been opened are also said to remain good for several years. Therefore, coffee's shelf life varies depending on its kind and storage method. Moreover, since instant coffee is simpler to prepare than fresh coffee, convenience is the primary driver driving market development. The need for handy food items like instant coffee is being fuelled by customers' fast-paced lifestyles, which is encouraging instant coffee market expansion in South Korea. Other factors such as the will to spend on high-end or premium brands are prevalent in the country due to increased disposable income and high living standards, which also propel the instant coffee market's growth.
Based on coffee type, the South Korea instant coffee market is segmented into freeze-fried instant coffee and spray-dried instant coffee. On the basis of distribution channels, the instant coffee market of South Korea is divided into online, supermarkets and hypermarkets, and convenience stores, among others.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the South Korea instant coffee market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
Freeze-dried instant coffee and spray-dried instant coffee are the two types of coffee available in the South Korea instant coffee industry. The flavour and aroma of the freeze-dried coffee are pretty similar to the original flavour, whereas spray-dried instant coffee has a slightly altered flavour.
Spray-drying involves spraying coffee extract in the form of small droplets into heated air. The heat instantly dries them, turning them into a fine powder or tiny fragments. In freeze-drying, coffee extract is frozen, broken up into pieces, and then dried in a vacuum at a low temperature. Since spray-dried coffee is affordable, it secures a significant market share. Furthermore, due to the increased number of coffee connoisseurs and coffee culture, more people now prefer freeze-dried coffee as well. In the forecast period, both segments will grow due to the ever-increasing demand for coffee in South Korea.
Supermarkets and hypermarkets are big, dispersed, and have a greater customer reach than other stores, followed by convenience stores. The reason for their prevalence is that people prefer to purchase at a one-stop shop since they offer all brands and their related items in one location. The offline retail channels segment's expansion will also be fuelled by the growing retail chains and the urbanisation process. However, since COVID-19, the e-commerce platforms have greatly expanded their market and are now much preferred by the working class.
Dongsuh Companies Inc.- The businesses of Dong Suh Companies Inc. include those of food and drink, packaging, logistics, food research, procurement, and export. The business sells solid coffee, liquid coffee, liquid tea, and other goods. Additionally, Dongsuh Foods makes and markets biscuits. Additionally, Dongsuh Companies Inc. is involved in the export of creamers, coffee, and tea. Seoul, South Korea, serves as the location of the business's headquarters. Dongsuh Companies Inc. was established in 1975.
Namyang Dairy Products Co., Ltd.- The Korean company Namyang Dairy Products Co Ltd is in the dairy product manufacturing business. Infant formula, special infant formula, tea, milk, soybean milk, cheese, french cafe beverage, yoghurt, and ketonica are just a few of the company's offerings. Imperial Dream XO, I Am Mother, MingdaoXiu, Star Science, Star Gold, Organic, Ai Zhi Bao, Namyang Shanyang Rufen, Xing BeiEr, and other product brands are among the company's brands.
|Scope of the Report||
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|Breakup by Coffee Type||
|Breakup by Distribution Channel||
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 South Korea Instant Coffee Market Analysis
8.1 Key Industry Highlights
8.2 South Korea Instant Coffee Historical Market (2018-2022)
8.3 South Korea Instant Coffee Market Forecast (2023-2028)
8.4 South Korea Instant Coffee Market by Coffee Type
8.4.1 Freeze-Dried Instant Coffee
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
8.4.2 Spray-Dried Instant Coffee
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
8.5 South Korea Instant Coffee Market by Distribution Channel
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
8.5.2 Supermarkets and Hypermarkets
18.104.22.168 Market Share
22.214.171.124 Historical Trend (2018-2022)
126.96.36.199 Forecast Trend (2023-2028)
8.5.3 Convenience Stores
188.8.131.52 Market Share
184.108.40.206 Historical Trend (2018-2022)
220.127.116.11 Forecast Trend (2023-2028)
9 Market Dynamics
9.1 SWOT Analysis
9.2 Porter’s Five Forces Analysis
9.2.1 Supplier’s Power
9.2.2 Buyer’s Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key Indicators for Demand
9.4 Key Indicators for Price
10 Value Chain Analysis
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 LOTTE-Nestlé Korea Co., Ltd
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
11.2.2 Dongsuh Companies Inc.
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
11.2.3 Namyang Dairy Products Co., Ltd.
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
11.2.4 Starbucks Coffee Company
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
11.2.5 Ediya Coffee Company
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
11.2.6 Luigi Lavazza S.p.A.
188.8.131.52 Company Overview
184.108.40.206 Product Portfolio
220.127.116.11 Demographic Reach and Achievements
18.104.22.168 Company Overview
22.214.171.124 Product Portfolio
126.96.36.199 Demographic Reach and Achievements
12 Key Trends and Developments in the Market
List of Key Figures and Tables
1. South Korea Instant Coffee Market: Key Industry Highlights, 2018 and 2028
2. South Korea Instant Coffee Historical Market: Breakup by Coffee Type (USD Million), 2018-2022
3. South Korea Instant Coffee Market Forecast: Breakup by Coffee Type (USD Million), 2023-2028
4. South Korea Instant Coffee Historical Market: Breakup by Distribution Channel (USD Million), 2018-2022
5. South Korea Instant Coffee Market Forecast: Breakup by Distribution Channel (USD Million), 2023-2028
6. South Korea Instant Coffee Market Structure
The market is projected to grow at a CAGR of 5.4% between 2023 and 2028.
Rising disposable income, high living standards, innovative flavours, and health benefits and with the availability of decaffeinated alternatives in the market are the major drivers.
Convenience of making in this fast-paced life and longer shelf life are the key trends of the South Korea instant coffee market.
The dominant type of instant coffee in the industry are freeze-dried instant coffee and spray-dried instant coffee.
The leading distribution channels in the market are online, supermarkets and hypermarkets, and convenience stores, among others.
The major players in the industry are LOTTE-Nestlé Korea Co., Ltd, Dongsuh Companies Inc., Namyang Dairy Products Co., Ltd., Starbucks Coffee Company, Ediya Coffee Company, Luigi Lavazza S.p.A., and Maxpresso, among others.
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