South Korea

Retail volume sales of refrigeration appliances continue to decline in 2023, following the trends of a post-pandemic era, inflation, and reduced consumer spending. The volume decline is not as steep as the previous year, and overall demand remains…

In 2023, the number of debit cards in circulation in South Korea continues to gradually decline following a steady upward trend over 2019-2021. The decline is primarily underpinned by two fundamental factors; namely the declining teenage population…

Heightened consumer interest in health continues to be a prominent trend following the pandemic in South Korea. It has played a pivotal role in shaping the current baking trend of reducing sugar and oil content, while emphasising natural fermentation…

Increasing media coverage about high consumption of sugar, fat and salt raising the chances of conditions such as cardiovascular disease, type 2 diabetes, and even cancer, has increased demand for products low in these ingredients. Concerns about…

Consumer demand has been shifting from manufactured goods back towards services. Due to this, value sales of experiential luxury grew by 13% to amount to KRW642 million in 2023, boosted by wealthier individuals resuming their normal activities,…

The self-medication trend is growing in South Korea, supporting further sales growth for analgesics, and cough, cold and allergy (hay fever) remedies, especially since the prevalence of the “tripledemic” in the country, consisting of COVID-19,…

Premium beauty and personal care maintained solid but slowing current value growth in South Korea in 2023. Within premium beauty and personal care, fragrances, BB/CC creams, hand care, and lipstick demonstrated robust growth, amongst others. These…

Demand for bottled water in South Korea is set to continue to rise in volume terms both off-trade and on-trade in 2023. Throughout the pandemic, buying bottled water for home consumption became a habit. Consumers who had previously purchased bottled…

The lingering impact of the pandemic, greater exposure to digital screens, and generally fast-paced lifestyles are continuing to affect the local population’s ability to relax and sleep, with heightened stress known to be a major factor impacting…

Total packaging volumes declined in processed meat and seafood for a second year in South Korea in 2023, although this was a continued normalisation process after the pandemic, and volumes remained higher than in 2019. Chilled processed meat…