South Korea Food and Drink Report Q1 2014

South Korea Food and Drink Report Q1 2014

Published: January 2014
Publisher: Business Monitor International (BMI)
Product ref: 192013
Pages: 105
Format: PDF
Delivery: Immediate download

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BMI View: We remain cautious about South Korea's economic growth trajectory, despite stronger than expected growth in 2013 (buoyed mainly by the manufacturing and construction sectors). While we do not discount further upside for the rest of 2013 (and have revised our forecasts up to 2.5%), we remain less sanguine towards Korea's economic trajectory in 2014. Korean trade momentum is likely to face continuing headwinds from China. Domestically, the construction rebound that we have witnessed this year is unlikely to extend into 2014 as the property market remains dormant while household debt will continue to crimp spending by the Korean consumer. Taking these factors into consideration, we are happy to maintain our below-consensus real GDP growth forecast of 3.0% for Korea in 2014..

Headline Industry Data (Local Currency) ¦ 2014 per capita food consumption = +2.3%; forecast 2013 to 2017 = +3.2%. ¦ 2014 alcoholic drink value sales = +2.5%; forecast 2013 to 2017 = +3.6%. ¦ 2014 soft drink value sales = +4.3%; forecast 2013 to 2017 = +4.3%. ¦ 2014 mass grocery retail sales = +5.7%; forecast 2013 to 2017 = +6.5%.

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By sector: General drinks

By market: South Korea (in Asia)


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