Latest Trends and Key Issues in the South Korean Retail Packaging Market - The outlook for primary packaging containers, closures and outers

Latest Trends and Key Issues in the South Korean Retail Packaging Market - The outlook for primary packaging containers, closures and outers

Published: January 2014
Publisher: Canadean Ltd
Product ref: 193619
Pages: 95
Format: PDF
Delivery: By product vendor

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Product Synopsis
• “Latest Trends and Key Issues in the South Korean Retail Packaging Market" is a detailed industry report providing comprehensive analysis of the emerging trends and opportunities in South Korean packaging market.

• The report is a result of a thorough analysis of consumer trends, packaging manufacturing trends, and packaging innovation within South Korea’s consumer packaged goods market. The report provides both qualitative and quantitative insights into each of the packaging materials– Flexible, Glass, Rigid Plastic, Rigid Metal, and Paper &Board.

• The report includes detailed tables and charts to provide a comprehensive understanding of packaging consumption to clearly establish market trends, packaging dynamics, and areas of future growth potential.

• It provides an overview of the competitive landscape of the South Korean packaging sector with an analysis of the key market leaders including a snap shot of major deals

Introduction and Landscape
Why was the report written?
Packaging companies and retailers seek the latest information on consumer trends and opportunities to formulate their sales and marketing strategies. There is also demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging growth opportunities within the CPG market.

What is the current market landscape and what is changing?
As consumer product demand evolves, the dynamics between different packaging types also evolves – favoring some packaging types and formats and leaving others increasingly out of line with demand patterns. As a result, understanding the shifting market dynamics is key to ensuring maximum sales in the future.

What are the key drivers behind recent market changes?
The differential growth across different packaging materials and formats drive fundamental shifts in the market. These differentials result from various factors such as changing consumer preferences, regulatory compliance, and innovation within the packaging market.

What makes this report unique and essential to read?
The report is a unique combination of in-depth qualitative analysis and authoritative packaging data for the years 2010–2016. Each packaging material has detailed data break up by packaging type, closure material, closure type, outer material, and outer type.

Key Features and Benefits
Comprehensive coverage of the key consumer trends affecting the CPG market. Markets covered include Alcoholic Drinks, Food, Health &Beauty, Home Improvement, Household Care, Non-Alcoholic Drinks, Pet Care, and Tobacco &Tobacco Products.

Detailed analysis of each packaging material providing detailed break up including pack types, closures, and outers.

Provides key manufacturing and innovation trends in the packaging industry.

Highlights the key regulatory framework governing the South Korea packaging industry.

Overview of the competitive landscape in South Korea’s packaging industry including key players in each of the packaging material segments and major deals.

Key Highlights
South Korea has witnessed an increase in its elderly population in the last decade, which is expected to rise further by 2020. As a result, demand for lightweight, convenient, easy-to-use pack formats will increase. Additionally, labels with larger fonts and clear nutritional information will have greater preference.

Growth in South Korea’s export-oriented economy has led to a steady increase in disposable income of consumers who are open to experimenting with innovative products. There is a greater need for companies to continuously innovate products in order to meet the aspirations of South Korean consumers. Meanwhile, growing use of credit cards is expected to increase impulse buying in the country, and packaging will act as one of the important differentiators for CPG products, to attract consumers.

The high commuting time of South Korean consumers escalates the demand for on-the-go products as consumers prefer products that can be consumed during travel. Additionally, busier lifestyles will enhance demand for ready-to-cook and ready-to-eat packaging formats as consumers will have relatively less time to spend on cooking. With consumers becoming busier, there will be increasing efforts from FMCG companies to offer easy-to-open or easy-to-use packs for products. For example, Gooksoo, a dry noodle brand, introduced a folding box for noodles which is easier to carry for on-the-go consumption than traditional.

Technological advancements in the manufacturing process are increasingly being adopted by South Korean Food manufacturers in an attempt to increase the quality of their products. Laser film perforation technology used by ADD FARM Ltd. and a moisture absorbent packaging system adopted by BossPack Co. Ltd. are some of the recent examples highlighting the use of improved technologies for Food packaging.

E-commerce growth is driven by a rise in internet penetration and greater use of smartphones. Rapid growth in online retail sales has encouraged major retailers to step into the online market. Increasing online sales will create greater demand for secondary and transit packaging, most importantly corrugated packaging.

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By sector: Packaging, Retail (in Off-trade), Trends

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