机构研究报告-Plant-based food market in South Korea-外文版培训课件

INDUSTRIES

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MARKETSPlant-basedfoodmarketinSouthKoreaCHAPTER

01OverviewValueoftheplant-basedfoodmarketworldwidefrom2020to2030(inbillionU.S.dollars)Globalplant-basedfoodmarketsize2020-203018016014012010080161.9139123.4108.694.277.864.76052.544.235.64020029.4202020212022202320242025202620272028202920303Description:Theglobalplant-basedfoodmarketisexpectedtoreach77.8billionU.S.dollarsin2025.Furthergrowthisexpected.Theforecastprojectsthatby2030themarketwillhavemorethandoubled.For2022,themodelexpectsamarketworth44.2billionU.S.dollars.ReadmoreNote(s):Worldwide;2020to2030Source(s):Bloomberg;FAO;OECD;PlantBasedNews;TheGoodFoodInstituteMarketrevenueofplant-basedmeatworldwidefrom2018to2028(inbillionU.S.dollars)Globalmeatsubstitutesmarketrevenue2018-20281816141210816.7815.3713.9912.7111.3810.158.967.796.635.3864204.66201820192020202120222023202420252026202720284Description:In2023,themarketvalueofplant-basedmeatsubstitutesworldwidewasestimatedtobeworth10.15billionU.S.dollars.Thisfigureisestimatedtosteadilyincreaseoverthecomingyearsandreachroughly16.78billionin2028.MeatsubstitutesMeatsubstitutesareplant-basedproductsthattrytoemulatemeatproductsintaste,texture,smell,andappearance.Thesealternativesexistinahighvarietyofforms,likethediversityofmeatproductstheyareimitating.Plant-basedproductshave[...]

ReadmoreNote(s):Worldwide;2018to2023Source(s):Statista;StatistaConsumerMarketInsightsWorldwidemilksubstituterevenuein2023,bycountry(inmillionU.S.dollars)Milksubstituterevenueworldwide2023,bycountryRevenueinmillionU.S.dollars01,0002,0003,0004,0005,0006,0007,0008,0009,00010,000ChinaUnitedStatesJapan9,511.823,604.251,832.82GermanyUnitedKingdomSpain809.16598.58554.53511.78479.13411.64387.26386.66358.5BrazilMexicoCanadaItalySouthKoreaIndiaFrance3255Description:Therevenuerankinginthe'MilkSubstitutes'segmentofthefoodmarketisledbyChinawith9.5billionU.S.dollars,whiletheUnitedStatesisfollowingwith3.6billionU.S.dollars.Incontrast,Russiaisatthebottomoftherankingwith95.01millionU.S.dollars,showingadifferenceof9.4billionU.S.dollarstoChina.ReadmoreNote(s):Worldwide;Jan1sttoDec31st2023Source(s):Statista;StatistaConsumerMarketInsightsProjecteddistributionoftheplant-basedfoodsalesinSouthKoreain2026Projecteddistributionofplant-basedfoodsalesSouthKorea2026Shareinsales0%5%10%15%20%25%30%35%40%45%B2BOnlineretail41.2%16.3%DirectimportsHypermarketsConveniencestoreGrocerystore11.6%9.5%7.9%7.7%Traditionalstore5.6%6Description:Itisexpectedthatin2026,B2Bsaleswillaccountforthemajorityofplant-basedfoodsales,atover41percent.AmongB2Cchannels,onlineretailwasforecastedtosecurethemostplant-basedfoodsales.

ReadmoreNote(s):SouthKorea;2020;forecastdataSource(s):KoreaAgro-Fisheries&FoodTradeCorp.;KREI;MAFRA(SouthKorea)Shareofthepopulationwithplant-baseddietsinSouthKoreafrom2023to2024Shareofplant-basedeatingpopulationSouthKorea20246%5%5%4%4%3%2%1%0%202320247Description:AccordingtoasurveyconductedinSouthKoreainJune2024,onlyaround5percentidentifiedthemselvesasvegetariansorvegans.Accordingtothesource,another13percentleanedtowardseatingavegetariandiet.

ReadmoreNote(s):SouthKorea;June14to17,2024;1,000respondents;18yearsandolderSource(s):HankookResearchNumberofpeopleinSouthKoreafollowingavegandietfrom2008to2021(in1,000s)NumberofvegansSouthKorea2008-20213,0002,5002,0001,5001,0002,5002,0001,500500150020082018202020218Description:Asof2021,therewerearound2.5millionpeopleinSouthKoreafollowingavegandiet.Thenumberofveganshasincreasedtenfoldfrom2008to2018,andhasshownagrowthofaround67percentinthethreeyearsafterthat.

ReadmoreNote(s):SouthKorea;2008to2021Source(s):HanaBank;KoreaVeganUnionTypesofplant-basedalternativesconsumershavetriedinSouthKoreaasofFebruary2024Plant-basedalternativesconsumershavetriedinSouthKorea2024100%86.76%90%80%70%60%50%40%30%20%10%0%31.08%25.83%14.9%12.49%2.38%Plant-basedmilk(e.g.soy,Dairy

productsubstitutesPlant-basedmeatEggsubstitutesand/or

Plant-basedcondimentsvegan'egg'

(e.g.veganmayonnaise)Otherproductsrice,almond,oroatmilk,

(e.g.veganice-cream,soy

alternatives(e.g.plant-etc)yoghurt,vegan'cheese',etc.)basedburgers,mockmeats,plant-based'chicken'nuggets,etc.)9Description:AccordingtoasurveyconductedbyRakutenInsightinFebruary2024,themajorityofSouthKoreanrespondentsstatedthattheyhavetriedplantbasedmilkbefore.Otherdairysubstitutesfollowed,withover31percentansweringtohavetriedthosebefore.Thisquestionwasaskedamongconsumerswhostatedthattheyhavetriedplant-basedalternatives.ReadmoreNote(s):SouthKorea;February8to29,2024;4,282respondents;16yearsandolder;consumersthathavetriedplant-basedalternativesSource(s):RakutenInsightCHAPTER

02MeatsubstitutesMeatsubstitutemarketsizeinSouthKoreafrom2020to2022,withforecastsuntil2025(inbillionSouthKoreanwon)MeatsubstitutemarketsizeSouthKorea2020-2025800723.4702.1676.97006005004003002001000646.9607.5562.62020202120222023*2024*2025*11Description:In2022,themeatsubstitutemarketvalueinSouthKoreastoodataround647billionSouthKoreanwon.Themarketforplant-basedsubstitutesfoodhasgrownthroughoutthelastyearsandwasexpectedtogrowmore.Soy-basedproductsaccountedforthemajorityofplant-basedalternativesin2020andwereforecasttoexpandthislead..ReadmoreNote(s):SouthKorea;2020to2022;*Forecasts.

1,000SouthKoreanwonequals0.68U.S.dollarsor0.66eurosasofJanuary2025.

ReadmoreSource(s):Euromonitor;MoneyToday(SouthKorea)Retailsalesvalueofplant-basedmeatalternativesinSouthKoreafrom2017to2026*(inmillionU.S.dollars)RetailsalesvalueofmeatsubstitutesSouthKorea2017-2026*200180160140120100171.7$111.8$8056.1$604020046.8$2017201820192026*12Description:Theretailsalesvalueofplant-basedmeatalternativesinSouthKoreastoodataround111.8millionU.S.dollarsin2019,andwasprojectedtoamountto171.1millionU.S.dollarsby2026.Accordingtothesource,business-to-consumerretailersmadeupthemajorityofmeatsubstitutesalesinthecountryasof2019.ReadmoreNote(s):SouthKorea;2017to2026;*Estimate.ReadmoreSource(s):KoreaAgro-Fisheries&FoodTradeCorp.;MAFRA(SouthKorea);StratisticsMRCFrozenmeatsubstitutemarketsizeforecastinSouthKoreafrom2022to2025(inbillionSouthKoreanwon)FrozenmeatsubstitutemarketsizeSouthKorea2022-20252018.11816.915.616141210814.16420202220232024202513Description:ThefrozenmeatsubstitutemarketvalueinSouthKoreawasforecasttoamounttoaround14.1billionSouthKoreanin2022.Itwasestimatedtokeepincreasingandtoreacharound18billionwonby2025.

ReadmoreNote(s):SouthKorea;2021Source(s):Euromonitor;NewseTodayShareofrespondentswhowouldeatlab-grownmeatasofFebruary2024Shareofconsumerswhowouldeatlab-grownmeatinSouthKorea2024Yes40.94%No59.06%14Description:AccordingtoasurveyconductedbyRakutenInsightamongSouthKoreansinFebruary2024,around59percentofrespondentswereopposedtoeatinglab-grownmeat.

ReadmoreNote(s):SouthKorea;February8to29,2024;6,026respondents;16yearsandolderSource(s):RakutenInsightCHAPTER

03DairysubstitutesMilkalternativesmarketsizeinSouthKoreafrom2020to2022,withforecastsupto2025(inbillionSouthKoreanwon)MilkalternativesmarketsizeSouthKorea2020-2025353032.12925.52521.22016.51511.510502020202120222023*2024*2025*16Description:In2022,themarketsizeoftheSouthKoreanmilkalternativesmarketreachedabout21.2billionSouthKoreanwon.Itwasexpectedtogrowevenfurther,reachingavalueofaround32billionwonin2025.

ReadmoreNote(s):SouthKorea;2020to2022;*Forecasts.1,000SouthKoreanwonequals0.68U.S.dollarsor0.66eurosasofJanuary2025.

ReadmoreSource(s):Euromonitor;MoneyToday(SouthKorea)Revenuedistributionofplant-basedmilksubstitutesinSouthKoreaasofOctober2022,bytypeofalternative(inbillionSouthKoreanwon)MilkalternativesalesdistributionSouthKorea2022,bysubstitutetype9008008007006005004003002001000700100SoymilkAlmondmilkTotal17Description:AsofOctober2022,Soymilkaccountedforaround700billionSouthKoreanwoninthemarketformilkalternativesinSouthKorea.Almondmilkmadeupanotherroughly100billionwon.Accordingsothesource,asofthetimeofdatacollection,thesalesofoatmilkwerestillinsignificant.ReadmoreNote(s):SouthKorea;October2022Source(s):TheFact;Varioussources(Industryinformation)MarketsizeofsoymilkinSouthKoreafrom2018to2023(inbillionSouthKoreanwon)SoymilkmarketsizeSouthKorea2018-2023600531518512.1505502.4490.3500400300200100020182019202020212022202318Description:In2023,themarketvalueofsoymilkinSouthKoreastoodataround512billionSouthKoreanwon.Overtheperiodofconsideration,themarketsizeofsoymilkhasshownarathersmallgrowthof4.4percentcomparedto2018.

ReadmoreNote(s):SouthKorea;2018to2023Source(s):Euromonitor;HeraldBusinessCHAPTER

04ConsumerperspectiveAwarenessaboutveganisminSouthKoreaasofJune2024AwarenessaboutveganismSouthKorea2024Knowaboutveganism36%Donotknowaboutveganism64%20Description:AccordingtoasurveyconductedinSouthKoreainJune2024,around36percentofrespondentsansweredthattheyknewaboutveganism.Awarenessofveganismwashigheramongwomenthanmen.

ReadmoreNote(s):SouthKorea;June14to17,2024;1,000respondents;18yearsandolderSource(s):HankookResearchImageofplant-basedfoodsinSouthKoreaasofJuly2023Imageofplant-basedfoodsSouthKorea2023Shareofrespondents0%10%20%30%40%50%60%70%65.9%64.8%64.4%62.6%60.9%SeemsgoodfortheenvironmentSeemslikeitcanhelpwithfoodshortagesSeemslikeitwillhelpwithimprovinganimalrightsandprotectionSeemshealthySeemsgoodforone'sdietSeemssafe/hygienic54.8%54.4%SeemslikeyoucansufficientlyreplaceanimalproteinHaveagoodimpression49.9%Seemstasty41.5%21Description:AsofJuly2023,almost66percentofrespondentsinasurveyaboutplant-basedfoodsinSouthKoreaansweredthattheythoughtofitasgoodfortheenvironment.Anothercloseto65percentthoughtitcouldhelpcombatfoodshortages.

ReadmoreNote(s):SouthKorea;July14to20,2023;500respondents;20-59yearsSource(s):KoreaAgro-Fisheries&FoodTradeCorp.;MAFRA(SouthKorea)OpinionsonveganismbecomingalifestyleinsocietyinSouthKoreaasofJune2024ThoughtsonveganismbecomingacommonlifestyleSouthKorea2024Unsure13%Itwillnotbecomeasocietallifestyle42%Itwillbecomeasocietallifestyle45%22Description:AccordingtoasurveyconductedinSouthKoreainJune2024,theopiniononveganismbecomingacommonlifestylechoiceamongothersinSouthKoreansocietywasundecided.While42percentofrespondentsthoughtitwouldnothappen,another45percentconsidereditwouldbeacommonlifestylechoicelateron.ReadmoreNote(s):SouthKorea;June14to17,2024;1,000respondents;18yearsandolderSource(s):HankookResearchOpinionsonthepossibilityofprotectinganimalrightsthroughveganproductpurchasesinSouthKoreaasofJune2024ThoughtsonveganproductpurchasesprotectinganimalrightsSouthKorea2024Unsure11%Ithelpstoprotectanimalrights50%Itdoesnothelptoprotectanimalrights39%23Description:AccordingtoasurveyconductedinSouthKoreainJune2024onveganproducts,halfoftherespondentsansweredtheybelievedpurchasingveganproductshelpstoprotectanimalrights.11percentwereunsurewhetheritwashelpfulornot.

ReadmoreNote(s):SouthKorea;June14to17,2024;1,000respondents;18yearsandolderSource(s):HankookResearchCHAPTER

05ConsumerbehaviorCategoriesofveganproductsconsumershadpurchasedbeforeinSouthKoreaasofJune2024CategoriesofveganproductspurchasedSouthKorea202430%26%25%23%22%20%15%10%5%14%0%VeganfoodVeganbeautyVegantoiletries(f.e.shampoo,soap,etc.)Veganfashion25Description:AccordingtoasurveyconductedinJune2024inSouthKorea,morethanonequarterofrespondentsansweredthattheyhadpurchasedveganfoodproductsbefore.Veganbeautyproductswereboughtbeforeby23percentoftherespondentsinthesurvey.ReadmoreNote(s):SouthKorea;June14to17,2024;1,000respondents;18yearsandolderSource(s):HankookResearchTypesofplant-basedalternativesconsumershavetriedinSouthKoreaasofFebruary2024Plant-basedalternativesconsumershavetriedinSouthKorea2024100%86.76%90%80%70%60%50%40%30%20%10%0%31.08%25.83%14.9%12.49%2.38%Plant-basedmilk(e.g.soy,Dairy

productsubstitutesPlant-basedmeatEggsubstitutesand/or

Plant-basedcondimentsvegan'egg'

(e.g.veganmayonnaise)Otherproductsrice,almond,oroatmilk,

(e.g.veganice-cream,soy

alternatives(e.g.plant-etc)yoghurt,vegan'cheese',etc.)basedburgers,mockmeats,plant-based'chicken'nuggets,etc.)26Description:AccordingtoasurveyconductedbyRakutenInsightinFebruary2024,themajorityofSouthKoreanrespondentsstatedthattheyhavetriedplantbasedmilkbefore.Otherdairysubstitutesfollowed,withover31percentansweringtohavetriedthosebefore.Thisquestionwasaskedamongconsumerswhostatedthattheyhavetriedplant-basedalternatives.ReadmoreNote(s):SouthKorea;February8to29,2024;4,282respondents;16yearsandolder;consumersthathavetriedplant-basedalternativesSource(s):RakutenInsightFrequencyofconsumingplant-basedalternativesinSouthKoreaasofFebruary2024Frequencyofconsumingplant-basedalternativesSouthKorea202430%28.04%23.98%25%21.9%21.9%20%15%10%5%2.66%1.52%0%Ionlyconsumeplant-basedfoodproductsSeveraltimesaweekSeveraltimesamonthOnceortwiceamonthSeveraltimesayearIneverconsumeplant-basedalternativestoanimalfoodproducts27Description:AccordingtoasurveyconductedbyRakutenInsightamongSouthKoreansinFebruary2024,around28percentofrespondentsstatedthattheyconsumedplant-basedalternativesseveralrimesamonth.Thisquestionwasaskedamongconsumerswhostatedthattheyarefamiliarwithplant-basedalternatives.ReadmoreNote(s):SouthKorea;February8to29,2024;4283respondents;16yearsandolder;consumersthatarefamiliarwithplant-basedalternativesSource(s):RakutenInsightReasonsforchoosingplant-basedalternativesforconsumersinSouthKoreaasofFebruary2024Reasonsforchoosingplant-basedalternativesSouthKorea2024Shareofrespondents0%10%20%30%40%50%50.58%60%Beliefthatplant-basedproductsarehealthierIwantedtotryafoodtrendConcernsregardinganimalwelfareinfoodproductionFollowavegetarian/vegandiet32.67%21.98%17.89%13.83%13.48%11.4%ConcernsonenvironmentalimpactoflivestockfarmingPlant-basedproductstastebetterFoodallergies/intoleranceordietaryrestrictionsoncertainanimal-basedproducts(suchasmilk,gelatine,etc)Otherreasons6.63%28Description:AccordingtoasurveyconductedbyRakutenInsightinSouthKoreainFebruary2024,50.6percentofrespondentsansweredtheychooseplant-basedalternativesbecausetheythinkthattheproductsarehealthierthananimal-basedproducts.Thisquestionwasaskedamongconsumerswhostatedthattheyhavetriedplant-basedalternatives.ReadmoreNote(s):SouthKorea;February8to29,2024;4282respondents;16yearsandolder;consumersthathavetriedplant-basedalternativesSource(s):RakutenInsightLeadingreasonsnottopurchaseveganproductsinSouthKoreaasofJune2024MajorreasonsfornotpurchasingveganproductsSouthKorea2024Shareofrespondents0%10%20%30%40%50%60