Baked goods in South Korea is set to see solid retail volume and current value growth rates throughout the forecast period, with increases expected across all categories except dessert mixes. Strengthening distribution networks, diverse product offerings, and the recent consumer preferences for health and convenience will drive sustained growth for baked goods in South Korea.
With the growing proportion of single-person households in South Korea, there is a stronger tendency for consumers to purchase only small quantities of necessary items at once, leading to more frequent visits to convenience stores, rather than larger trips to a hypermarket. This trend is especially pronounced in baked goods, as consumers increasingly prefer smaller portions due to concerns about the shelf life of such products.
Price adjustments following the stabilisation of domestic and international prices will play a crucial role in the growth of baked goods in South Korea moving forward. Previous inflation has increased raw materials costs, driving up average prices across baked goods.
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Baked Goods
This is the aggregation of bread, pastries, dessert mixes, frozen baked goods and cakes. Note: Baked goods from in-store bakeries are classified under unpackaged/artisanal, not packaged/industrial. While they may be finished on-site, they are often prepared, then frozen or par-baked, at other locations. Such production models are very important for supermarket in-store bakeries, which have in the past been used to drive traffic and fill stores with appetising aromas, but for which the labour resources required to run a full-service scratch bakery are not always available.
See All of Our DefinitionsThis report originates from Passport, our Baked Goods research and analysis database.
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