The ‘South Korea Food Service Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the South Korea food service market, assessing the market on the basis of its segments like types, structures, and sectors.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
South Korea Food Service Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 4.4%
The South Korea food service market is being driven by the rapidly growing food and beverage sector of the country. The increasing demand for dining-out services, door-step food delivery services, and home meal replacements is fuelling the market growth. The increasing sale of packed food products derived from meat, fish, grains, and fruit and nuts, among others, is generating a steady demand for good-quality food services.
Get a Free Sample Report with Table of Contents – https://www.expertmarketresearch.com/reports/south-korea-food-service-market/requestsample
Rising disposable income, rapid urbanisation, and increasing presence of tourists, are further escalating the demand for food services. Meanwhile, surge in the popularity of food delivery apps is being witnessed in the country, which is in turn bolstering the food service market growth in South Korea. Mobile applications for food service are likely to witness a spike, due to the increasing adoption of portable smart gadgets.
Over the forecast period, the anticipated increase in footfall in cafes, bars, full service restaurants, and street stalls is likely to expand the opportunities for South Korea food service market. Meanwhile, the growing expansion of quick service restaurants (QSR) is likely to generate the demand for food services to improve the quality of food offerings and increase consumer satisfaction.
South Korea Food Service Industry Definition and Major Segments
Food service refers to a type of professional service designed to cater to the food demands of consumers. Food services include food packaging, delivery, preparation, and serving. Apart from food, this type of service includes kitchen equipment, cutlery, chefs, and dieticians. Food service often requires special training to understand the needs of the consumers in order to improve satisfaction.
Read Full Report with Table of Contents – https://www.expertmarketresearch.com/reports/south-korea-food-service-market
Based on type, the market is segmented into:
• Full-service Restaurants
• Quick-service Restaurants
• Street Stalls and Kiosks
• Cafes and Bars
• Others
By structure, the market is bifurcated into:
• Independent Consumer Foodservice
• Chained Consumer Foodservice
On the basis of sector, the market is divided into:
• Commercial
• Non-Commercial
South Korea Food Service Market Trends
The key trends in the South Korea food service market include the rapid increase in FoodTech start-ups offering efficient and innovative food services, such as phone reservations, online ratings for better feedback, notifications via messaging apps, and options for special requests. In addition, increasing investments towards development of self-service kiosks and social cafes with efficient service speed are attracting greater number of gen Z and millennial consumers. The increasing investments by the government of South Korea, aimed towards developing new commercial outlets such as railway stations, airports, and malls, among others, are likely to generate a high demand for food services in the forecast period.
The rising demand for fast-food, owing to the growing popularity of western culture, is another crucial trend in the South Korea food service market. Western fast foods such as hamburgers, pizza, pasta, French fries, chips, and ice-creams, among others, are witnessing a heightened demand which are expanding the opportunities for food service facilities. Meanwhile, the robust promotion and branding strategies by food service companies, on social media and video generation platforms, is anticipated to diffuse awareness among the population. Furthermore, the growing research and development activities by major food processing companies to improve shelf life and overall quality of clean-labelled or fresh food products are expected to improve the quality of food service in the coming years.
Key Market Players
The major players in the South Korea food service market report are
• Starbucks Corporation
• Yum! Brands, Inc.
• McDonald’s Corporation
• Balwoo Gongyang
• Yongsusan
• Burger King Corporation
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
About Us:
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.
Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today’s competitive market.
Don’t miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation’s future success by acquiring one of our Expert Market Research reports today.
Media Contact:
Company Name: Claight Corporation
Contact Person: John Millence, Business Consultant
Email: sales@expertmarketresearch.com
Toll Free Number: US +1-415-325-5166 | UK +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: www.expertmarketresearch.com
