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Report
South Korea Fast Food Market Report and Forecast 2024-2032
Market Report I 2023-11-23 I 140 Pages I EMR Inc.
South Korea Fast Food Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the South Korea fast food market is projected to grow at a CAGR of 4.6% between 2024 and 2032. Aided by the escalating demand for convenient dining options and the rapid urbanisation in South Korea, the market is expected to grow significantly by 2032.
The fast-food industry, characterised by quick service, affordable prices, and consistency in taste, has made significant inroads in South Korea's food and beverage sector. With a multitude of international and local chains setting up outlets across the nation, South Koreans have embraced fast food as a mainstream dining option. Popular items include burgers, fried chicken, pizzas, and, more recently, Korean adaptations of these fast-food classics.
Several factors are contributing to the South Korea fast food market growth. The nation's rapid urbanization, coupled with an increase in the working population, has resulted in time-poor consumers seeking out quick and convenient dining options. This, in turn, has bolstered the demand for fast food, especially in bustling cities like Seoul, Busan, and Incheon.
Moreover, South Korea's tech-savvy population and the penetration of smartphones have led to the rise of online food delivery platforms. As per the South Korea fast food market analysis, these platforms, offering a plethora of fast-food choices with the added convenience of home or office delivery, have further accelerated the industry's growth. The seamless integration of technology with dining has indeed reshaped the fast-food experience in South Korea.
Over the years, international fast-food chains in South Korea have localised their menus, incorporating traditional Korean flavours and ingredients. This fusion of global fast-food staples with local tastes has garnered immense popularity, leading to an increased affinity for fast-food items among South Koreans of all ages, and further propelling the South Korea fast food market demand.
Additionally, the burgeoning cafe culture and the increasing popularity of coffee shops, which often integrate fast food into their menus, further amplify the market's potential. Establishments like these not only offer a quick bite but also provide a space for socialising, making them a favourite hangout spot, especially among the younger demographics, and further increasing the value of the South Korea fast food market size.
Market Segmentation
The market can be divided based on product type, end user, and provinces.
Market Breakup by Product Type
- Spicy Rice Cakes
- Chicken Cup
- Fish Cakes
- Kimbap
- Blood Sausage
- Donuts
- Korean Pancakes
- Others
Market Breakup by End User
- Full-Service Restaurants
- Quick Service Restaurants
- Caterings
- Others
Market Breakup by Provinces
- North Chungcheong
- South Chungcheong
- Gangwon
- Gyeonggi
- North Gyeongsang
- South Gyeongsang
- North Jeolla
- South Jeolla
- Jeju Special Self-Governing Province
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the South Korea fast food market. Some of the major players explored in the report by Expert Market Research are as follows:
- Mom's Touch Global
- Lotteria Corporation
- Mc Donald's Corporation
- KFC Corporation
- Isaac Toast Co., Ltd.
- Burger King Corporation
- Shake Shack Inc.
- Others
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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Regional
7 Industry Opportunities and Challenges
8 South Korea Fast Food Market Analysis
8.1 Key Industry Highlights
8.2 South Korea Fast Food Historical Market (2018-2023)
8.3 South Korea Fast Food Market Forecast (2024-2032)
8.4 South Korea Fast Food Market by Product Type
8.4.1 Spicy Rice Cakes
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Chicken Cup
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Fish Cakes
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Kimbap
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Blood Sausage
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2023)
8.4.5.3 Forecast Trend (2024-2032)
8.4.6 Donuts
8.4.6.1 Market Share
8.4.6.2 Historical Trend (2018-2023)
8.4.6.3 Forecast Trend (2024-2032)
8.4.7 Korean Pancakes
8.4.7.1 Market Share
8.4.7.2 Historical Trend (2018-2023)
8.4.7.3 Forecast Trend (2024-2032)
8.4.8 Others
8.5 South Korea Fast Food Market by End User
8.5.1 Full-Service Restaurants
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Quick Service Restaurants
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Caterings
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Others
8.6 South Korea Fast Food Market by Provinces
8.6.1 North Chungcheong
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 South Chungcheong
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Gangwon
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Gyeonggi
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 North Gyeongsang
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2023)
8.6.5.3 Forecast Trend (2024-2032)
8.6.6 South Gyeongsang
8.6.6.1 Market Share
8.6.6.2 Historical Trend (2018-2023)
8.6.6.3 Forecast Trend (2024-2032)
8.6.7 North Jeolla
8.6.7.1 Market Share
8.6.7.2 Historical Trend (2018-2023)
8.6.7.3 Forecast Trend (2024-2032)
8.6.8 South Jeolla
8.6.8.1 Market Share
8.6.8.2 Historical Trend (2018-2023)
8.6.8.3 Forecast Trend (2024-2032)
8.6.9 Jeju Special Self-Governing Province
8.6.9.1 Market Share
8.6.9.2 Historical Trend (2018-2023)
8.6.9.3 Forecast Trend (2024-2032)
9 Market Dynamics
9.1 SWOT Analysis
9.1.1 Strengths
9.1.2 Weaknesses
9.1.3 Opportunities
9.1.4 Threats
9.2 Porter's Five Forces Analysis
9.2.1 Supplier's Power
9.2.2 Buyer's Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key Indicators for Demand
9.4 Key Indicators for Price
10 Competitive Landscape
10.1 Market Structure
10.2 Company Profiles
10.2.1 Mom's Touch Global
10.2.1.1 Company Overview
10.2.1.2 Product Portfolio
10.2.1.3 Demographic Reach and Achievements
10.2.1.4 Certifications
10.2.2 Lotteria Corporation
10.2.2.1 Company Overview
10.2.2.2 Product Portfolio
10.2.2.3 Demographic Reach and Achievements
10.2.2.4 Certifications
10.2.3 Mc Donald's Corporation
10.2.3.1 Company Overview
10.2.3.2 Product Portfolio
10.2.3.3 Demographic Reach and Achievements
10.2.3.4 Certifications
10.2.4 KFC Corporation
10.2.4.1 Company Overview
10.2.4.2 Product Portfolio
10.2.4.3 Demographic Reach and Achievements
10.2.4.4 Certifications
10.2.5 Isaac Toast Co., Ltd.
10.2.5.1 Company Overview
10.2.5.2 Product Portfolio
10.2.5.3 Demographic Reach and Achievements
10.2.5.4 Certifications
10.2.6 Burger King Corporation
10.2.6.1 Company Overview
10.2.6.2 Product Portfolio
10.2.6.3 Demographic Reach and Achievements
10.2.6.4 Certifications
10.2.7 Shake Shack Inc.
10.2.7.1 Company Overview
10.2.7.2 Product Portfolio
10.2.7.3 Demographic Reach and Achievements
10.2.7.4 Certifications
10.2.8 Others
11 Industry Events and Developments
List of Key Figures and Tables
1. South Korea Fast Food Market: Key Industry Highlights, 2017 and 2021
2. South Korea Fast Food Historical Market: Breakup by Product Type (USD Million), 2018-2023
3. South Korea Fast Food Market Forecast: Breakup by Product Type (USD Million), 2024-2032
4. South Korea Fast Food Historical Market: Breakup by End User (USD Million), 2018-2023
5. South Korea Fast Food Market Forecast: Breakup by End User (USD Million), 2024-2032
6. South Korea Fast Food Historical Market: Breakup by Provinces (USD Million), 2018-2023
7. South Korea Fast Food Market Forecast: Breakup by Provinces (USD Million), 2024-2032
8. South Korea Fast Food Market Structure
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