South Korea Spreads Market Research Report, 2028

The market for food spreads is booming in South Korea, which is renowned for its robust culinary scene and extensive food culture. Koreans love food spreads because they are easy and adaptable condiments that improve the flavour of a variety of dishes. The South Korean food spread industry offers a wide variety of goods to suit various tastes and preferences, ranging from traditional Korean spreads to global favourites. South Korea has a variety of traditional spreads that have been enjoyed for centuries. One popular example is Gochujang, a fermented chili paste made from red chili peppers, glutinous rice, fermented soybeans, and salt. Gochujang is used in many Korean dishes and adds a unique spicy and savory flavor. Another traditional spread is Doenjang, a fermented soybean pastes similar to miso, which is used in soups, stews, and marinades. South Korea has embraced international flavors, and as a result, the market offers a wide array of international food spreads. Nutella, peanut butter, chocolate spreads, and fruit preserves from global brands have gained significant popularity among Koreans. These spreads are enjoyed on toast, pancakes, waffles, and in baking recipes. With the increasing emphasis on health and wellness, South Korea has witnessed a rise in the demand for healthier food spreads. Companies have responded by introducing spreads made from natural ingredients, such as nuts, seeds, and fruits, without added sugars or preservatives. Almond butter, cashew butter, chia seed spreads, and fruit-based jams without artificial additives are some examples of the healthier options available. According to the research report "South Korea Spreads Market Research Report, 2028," published by Actual Market Research, The South Korea is expected to grow at above 8.86 % CAGR from 2023 to 2028. Gochujang, a traditional Korean fermented chili paste, has gained international recognition and popularity. It is often referred to as "Korean ketchup" and is used as a key ingredient in various dishes around the world. South Korea's love for kimchi, a traditional fermented vegetable dish, has led to the creation of unique spreads like kimchi butter. Kimchi butter combines the tangy and spicy flavors of kimchi with the creamy richness of butter, offering a fusion of traditional and modern tastes. Convenience stores, known as "CVS" or "CU" in South Korea, play a significant role in the food spread market. They offer a wide range of spreads, including single-serving packets and portable containers, catering to the on-the-go lifestyle of many Koreans. Honey butter-flavored spreads, particularly honey butter chips, have become a viral sensation in South Korea. The combination of sweet honey and savory butter has captured the taste buds of consumers, leading to high demand and limited-time releases of honey butter-flavored products. With the increasing health-consciousness among Koreans, do-it-yourself (DIY) nut butter has gained popularity. Specialty stores and markets provide grinding machines where customers can create their own nut butter blends, allowing for customization and freshness. Social media platforms, particularly Instagram and YouTube, have played a significant role in shaping consumer preferences and driving trends in the food spread market. Influencers and content creators share recipes, reviews, and innovative ways to use spreads, creating buzz and influencing purchasing decisions. As the demand for vegan and plant-based options grows, South Korea has seen the emergence of spreads catered specifically to this market segment. Vegan nut butters, plant-based chocolate spreads, and dairy-free fruit jams are gaining popularity among health-conscious and environmentally conscious consumers. South Korea embraces seasonal flavors, and the food spread market reflects this by introducing limited-time seasonal spreads. For example, during autumn, pumpkin-flavored spreads are commonly available, while during winter, chestnut spreads are popular. Traditional medicinal ingredients are incorporated into spreads to offer health benefits. For instance, spreads made with ingredients like red ginseng, jujube, and black sesame are believed to have nourishing properties and are sought after by those interested in traditional Korean medicine. Food spreads are often given as gifts in South Korea, especially during holidays and special occasions. Elaborate gift sets featuring a variety of spreads, beautifully packaged, are available, making them a popular choice for both locals and tourists.

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South Korea has a market for premium and high-end spreads. These spreads are often made with premium ingredients, such as organic nuts or artisanal chocolates, and are positioned as luxury products catering to consumers seeking unique and indulgent experiences. Sesame seeds are a staple ingredient in Korean cuisine, and sesame seed spreads have gained popularity in recent years. These spreads offer a rich, nutty flavor and are used in various dishes, including sauces, dressings, and as a topping for rice or bread. Fermented spreads, such as soybean-based doenjang and chili-based gochujang, are not only flavorful but also offer health benefits. Fermentation enhances the nutritional value of these spreads by increasing the bioavailability of nutrients and promoting gut health. Spicy flavors are immensely popular in South Korea, and this trend extends to food spreads as well. Spicy spreads, like chili-infused chocolate spreads or spicy nut butters, cater to the taste preferences of Koreans who enjoy bold and fiery flavors. In South Korea, there is a strong emphasis on beauty and skincare. As a result, there is a market for spreads that are believed to have beauty-enhancing properties. Some spreads contain ingredients like collagen or vitamins, which are marketed as promoting healthy skin, hair, and nails. Street food culture has influenced the food spread market in South Korea. Spreads commonly used in street food, such as sweet red bean paste and condensed milk, have found their way into mainstream consumption as popular spreads for toast, pancakes, and waffles. Collaboration between food spread brands and popular snack or confectionery brands is a common marketing strategy in South Korea. Limited edition spreads featuring collaborations with popular chocolate brands or cookie companies create excitement and drive sales. South Korea has regional specialties in terms of food spreads. For example, Jeju Island, known for its unique produce, offers spreads made from local ingredients like tangerines or Hallabong, a variety of orange. These regional spreads showcase the diversity of flavors across different areas of the country. The food spread market in South Korea often introduces innovative packaging to attract consumers. Squeeze bottles, portioned cups with built-in spoons, and resealable pouches are some examples of creative packaging solutions that enhance convenience and ease of use. Fusion cuisine has made its mark on the food spread market in South Korea. Spreads that combine traditional Korean flavors with international influences, such as kimchi-flavored mayonnaise or bulgogi-infused spreads, offer a unique culinary experience that blends different cultural elements. Seoul Food & Hotel (SFH) is a leading international food and hospitality trade show held annually in Seoul. The event brings together a wide range of food industry professionals, including manufacturers, distributors, and buyers. It provides a platform for companies to showcase their food spreads, network, and explore business opportunities. Also, Gourmet Seoul is a food festival held in Seoul that celebrates gourmet cuisine and culinary trends. The festival features various food vendors, including those specializing in food spreads. Visitors can sample and purchase a variety of spreads, attend cooking demonstrations, and participate in workshops and tastings. In addition, The Seoul Food Festival is an annual event that celebrates food and showcases the diverse culinary offerings in the city. The festival includes a wide range of food-related activities, such as food markets, cooking competitions, and demonstrations. Food spreads often feature prominently, allowing visitors to discover new flavors and products. South Korea has a thriving food spread business with a wide variety of flavours and alternatives. Gochujang and Doenjang, two traditional Korean condiments, cohabit with global favourites. Online retail, convenience, and health-conscious options are prominent characteristics. Consumer preferences are shaped by social media and advertising, while value is placed on quality and local sources. Events and partnerships offer chances to investigate emerging trends. All in all, with a blend of history and innovation, the market captures South Korea's culinary culture. Considered in this report: • Geography: South Korea • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028

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Kripa Shah

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Aspects covered in this report: • South Korea Spread Market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type: • Spreadable Fats (Butter, Margarine & Cheese) • Fruit Jam & Preserve Spreads • Nut Based Spreads • Chocolate Spreads • Savory Spreads • Honey Based Spreads By End-Use: • Household • Commercial

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By Nature: • Conventional • Organic / Plant Based By Distribution Channel: • Hypermarket & Supermarket • Convenience Store • Online • Others (Foodserive & Direct Sales) The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us. we have started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to spread industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.