South Korea Dried Fruit Market Research Report, 2028

South Korea Dried Fruit Market Research Report, 2028

Actual Market Research 31-12-2022 66 Pages Figures : 5 Tables : 16 Region : Asia-Pacific Country : Korea South Category : Food & Beverages Food

The South Korean dried fruit market is expected to grow in the near future owing to the increasing demand for vitamin and mineral-rich food across the country. Other factors like shifting consumer preferences and growing health consciousness are likely to propel the demand for dried fruits. Apart from this, the increased demand for dried fruit from the bakery, dairy, and confectionery industries is another prominent factor boosting the South Korean dried fruit markets. Consumption in South Korea is driven by the growing affluence of the middle class population and rising health consciousness among consumers and the increasing acceptance for packaged food with nutritious ingredients.

According to the research report, “South Korea Dried Food Market Research Report, 2028” published by Actual Market Research, the market is projected to add 0.07 Billion from 2022 to 2028. Raisins or dehydrated grapes dominated the dried fruit market. Increased production of raisins across developed and emerging economies has positively influenced segment growth. In addition, raisins are a source of several nutritional elements, such as fiber, iron, calcium, boron, and phytonutrients, which have been attracting health-conscious consumers. As result, applications of raisins have grown significantly across various segments of the food and beverage industry due to their health benefits. Berries are expected to witness the fastest growth over the forecast period. Over the past few years, the consumption of dried berries has been increasing drastically in the market. Companies have been launching numerous products using raisins as an ingredient.

Consumer awareness about the negative consequences of added colors and flavors has influenced them to choose healthier eating habits. Clean labels or label-friendly cut through the clutter of too much data and represent valuable information, which gives consumers a sense of control over their well-being. Clean-label items are in high demand because consumers want food without artificial additives or preservatives. Dehydrated fruit manufacturers are optimizing ingredients to provide label-friendly products. Customers are looking at the back of packages more than ever before to check for the ingredients, and are drawn to clean-label a product, which was previously uncommon, resulting in an increase in demand for preserved fruits that require less processing.

Dried fruits are processed fruits in which most of the water is removed from the fruits by a natural procedure of drying in the sun or dehydrators. However, the dried fruit market is gaining ground due to its easy-to-pack snack feature that prevents fruit from spoiling as fast as fresh fruit. In addition, the market is driven by its application in different product lines. Dried fruits support bakers to cater to changing consumer preferences and demand by offering customized taste and experience, along with being convenient to use and consuming less time. The growing food service industry is in the quest for convenient food products for better-serving customers briskly.

Based on nature, the dried food market is mainly segmented into organic and conventional. Increasing customer health awareness is an important driver for the organic dried food market. For this reason, the organic dried food market should have a high preference over conventional dried foods during forecasting. However, at present, the organic dried food market has a small market share due to its high cost. The growing preference for organic foods in developed economies is an important driver that should stimulate the organic dried food market in the near future.

Supermarkets and hypermarkets held the largest share. Over the past few years, supermarkets and hypermarkets have witnessed significant growth in the nut and dehydrated fruit categories. The retail chains are appealing to health-conscious consumers by expanding their organic and natural product lines. Furthermore, increasing supermarket penetration in developing countries will boost product sales through this distribution channel. The most popular supermarkets in South Korea are Lotte Mart, E-mart, Home Plus, and many more. Convenience stores hold a notable share of the market, especially in developing countries. Several countries have specialized retail stores for the product, for instance, shops on the street and public markets, and specialty stores. Online distribution is anticipated to expand at the fastest CAGR.

Covid-19 Impacts:
The coronavirus pandemic had a great negative effect on all supply and value chain stages of various industries. Food and beverages are among the industries that are currently experiencing impacts as a result of the pandemic. The affected workforce on farms, food and beverage production and processing plants, and the distribution network are analyzed to risk promoting the COVID-19 epidemic, the transmission of which can occur during various coordination activities. There is also a potential risk that the virus will spread through outbound products, leading to food security problems, when a trade occurs between geographic areas and different stages of the supply chain, resulting in a shortage of working manpower.

Considered in this report
•Geography: South Korea
•Historic year: 2017
•Base year: 2022
•Estimated year: 2023
•Forecast year: 2028

Aspects covered in this report
•South Korea Dried Fruits 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 Type
•Dried Apricots
•Dried Dates
•Dried Grapes / Raisins
•Dried Figs
•Dried Berries

By Nature
•Organic Dried Fruits
•Conventional Dried Fruits

By Distribution Channel
•Specialty Stores
•Convenience Stores
•Online Retail

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 list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing 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 conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the dried fruit 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.

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