Top Growth Opportunities: Hot Drinks in South Korea

Top Growth Opportunities: Hot Drinks in South Korea

Summary

"Top Growth Opportunities: Hot Drinks in South Korea", provides an overview of the Hot Drinks market, analyzing market data, demographic consumption patterns within the category, and the key consumer trends driving consumption. GlobalData’s proprietary Risk vs Reward Opportunity model pinpoints the best growth opportunities for Hot Drinks producers, suppliers and retailers by combining robust, granular data and expert insight. The report uses this framework to identify the best opportunities, analyze white spaces in the market, and outline new product development that will effectively target the most pertinent consumer need states. These are combined to offer strategic recommendations to capitalize on evolving consumer landscapes.

This report provides recommended actions and detailed analysis of how to target the best growth opportunities for Hot Drinks producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of Hot Drinks markets in South Korea through GlobalData’s detailed and robust data, expert insight, and case studies.

GlobalData’s Top Growth Opportunity reports use a risk versus reward opportunity model to identify the best growth markets for Hot Drinks producers. Through this in-depth study of market and category dynamics, readers are able to identify key opportunities, and what they need to do in order to target them.

Get access to -
- Key consumer demographic groups driving consumption within the South Korean market. Improve your consumer targeting by understanding who’s driving the market, what they want, and why
- A study of market value and volumes over 2011-2016 for South Korea supplemented with category, brand and packaging analysis that shows the current state of the market, and how it will evolve over the 2016-2021 period
- White space analysis, to pinpoint attractive spaces in the market and the key actions to take
- Insight into the implications behind the data, and analysis of how the consumer needs will evolve in the short-to-medium term future
- Examples of international and regional product innovation targeting key consumer needs.

Scope

- South Korea’s economic growth (GDP) is slated to remain stable through 2020, given the government’s initiatives to tackles rising unemployment in the country, according to the OECD. The steady improvement in the country’s economy is likely to drive consumer spending, supporting growth in the hot drinks sector during 2017-2022.
- Hot coffee popular among working class people as well as older consumers as it is considered to be one of the staple everyday drinks in the country. Brands should come up with new products in this category featuring unusual flavors and varieties to drive premiumization and higher profit margins.
- Rapid technological developments will have a huge impact on consumers’ shopping practice and ultimately on the South Korean retail landscape. The traditional retailers are offering the convenience of shopping grocery via their dedicated online websites, which will enable niche brands and products to reach a larger base of consumers.

Reasons to buy

- This report brings together consumer analysis and market data to provide actionable insight into the behavior of South Korea Hot Drinks consumers.
- This is based on GlobalData's unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivators in the Hot Drinks sector.
- Category, brand, and packaging dynamics are also examined.
- This allows product and marketing strategies to be better aligned with the leading trends in the market.