According to the report by Expert Market Research (EMR), the South Korea Frozen Food Market Price is projected to grow at a CAGR of 6.7% between 2023 and 2028. Aided by the rising demand for convenient meal options and development of goods with longer shelf lives, the market is expected to grow significantly by 2028.
Frozen food, which includes a broad range of products from ready meals, meat and poultry to seafood, fruits, and vegetables, plays an essential role in modern dietary habits. It offers a high level of convenience, long shelf life, and relatively easy preparation methods, making it a popular choice in busy households, particularly in urban areas. Besides convenience, frozen food also ensures the preservation of nutritional values, which enhances its appeal to health-conscious consumers.
The increasing consumer preference for convenient and time-saving meal options is a primary driver of the South Korea frozen food market growth. The rapid pace of life, particularly in metropolitan areas, has led to a significant shift towards frozen food. The rising number of working professionals, the prevalence of nuclear families, and the surge in single-person households have also contributed to the growing popularity of frozen food in South Korea.
The versatility of frozen food and its expanding applications in various culinary contexts is another significant factor in propelling the South Korea frozen food market growth. From traditional Korean dishes to international cuisines, frozen food has been instrumental in enabling consumers to enjoy diverse meals without extensive preparation or cooking time. The rise of home cooking and the increasing interest in gourmet recipes have further fuelled the demand for high-quality frozen food products.
Further, the growing demand for healthier food options has led to an increased focus on frozen food as a viable choice for balanced meals. The development of innovative freezing technologies has enabled the preservation of nutritional content in frozen products. With the rise in health consciousness and the increasing prevalence of dietary-related diseases, frozen food products, especially frozen fruits and vegetables, have emerged as important components in promoting a healthy lifestyle, thus boosting the South Korea frozen food market expansion.
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Moreover, advancements in packaging and the introduction of premium frozen food products are set to enhance market growth. Innovations in packaging technology ensure longer shelf life, maintain product quality and provide better aesthetic appeal. Premium frozen food products, including gourmet meals and organic options, cater to the growing segment of consumers seeking high-quality, nutritious, and tasty food options, aiding the South Korea frozen food market development.
South Korea Frozen Food Market Segmentation
The market can be divided based on type, product, end use, and distribution channel.
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Market Breakup by Type
- Ready-to-Drink
- Ready-to-Eat
- Ready-to-Cook
- Others
Market Breakup by Product
- Frozen Meals
- Frozen Seafood, Meat, and Poultry
- Frozen Fruits and Vegetables
- Frozen Potatoes
- Frozen Soup
- Dairy Products
- Others
Market Breakup by End Use
- Food Service Industry
- Retail
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Online Channels
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the South Korea frozen food companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- CJ CheilJedang Corp.
- Nongshim Co.,Ltd.
- Chung’s Food Co.,Ltd
- SPC GFS CO. LTD
- Daesang Corporation
- Taejong FD Co., Ltd.
- Others
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