South Korea

In 2023, drinking milk products in South Korea is expected to continue to thrive in current value terms, building on the positive growth seen in the previous year. However, this growth trajectory varies significantly at the category level, and the…

The health and wellness industry continues to grow in importance post-pandemic as consumers become more aware of the negative health impact of processed foods, seeking healthier foods and beverages from a range of claims such as natural, organic,…

Weight management and wellbeing is recording another positive performance in 2023 as local consumers continue on their weight loss journeys following the home seclusion trend of the pandemic, which resulted in sedentary lifestyles and weight gain for…

The popularity of functional foods for health that have received “individual recognition” from the Ministry of Food and Drug Safety for specific functionality and safety has been gradually increasing in South Korea. In 2022, these products surpassed…

In 2023, dairy products and alternatives in South Korea is set to experience growth in retail current value terms, primarily driven by inflationary factors, which have been affecting the global dairy market. The country’s unique milk pricing system,…

Volume sales in home audio and cinema are led by home cinema and speaker systems. In 2023, retail volume sales in this category are set to grow, continuing a trend which was seen throughout the review period. With limited mobility outside of the…

In spite of the slight growth spikes seen in home care packaging in 2020 and 2021 as a result of home seclusion and heightened health awareness due to the COVID-19 virus, this industry’s unit volumes continued to grow in 2022. Growth was slightly…

Retail volume sales of food preparation appliances are declining for a second consecutive year in 2023. This is a trend evident across the category, with juice extractors experiencing the steepest decline. This is being driven by several factors, but…

In 2022, South Korea witnessed growth in both the issuance and usage of pre-paid cards in line with greater mobility outside of the home. Shinhan Card, in particular, played a role in driving this growth, reporting a remarkable increase in the retail…

The landscape of card transactions in South Korea is undergoing a remarkable transformation marked by a gradual decline in cash usage. This paradigm shift is primarily driven by the widespread adoption of mobile financial services, a trend that has…