GlobalData : Health and wellness to drive South Korea seasonings, dressings & sauces market at 3.1% CAGR through 2026, says GlobalData –

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Condiments sauces, which are fermented and contain probiotics, are quite popular in South Korean market. Encouraged by this, the South Korean seasonings, dressings & sauces market is projected to grow from KRW2,115.3bn ($1.8bn) in 2021 to KRW 2,460.6bn ($2.2bn) in 2026, at a compound annual growth rate (CAGR) of 3.1% during the period, forecasts GlobalData, a leading data and analytics company.
GlobalData’s report, ‘South Korea Seasonings, Dressings and Sauces Market Size by Categories, Distribution Channel, Market Share and Forecast, 2021-2026‘, reveals that the market growth will be mainly driven by the condiment sauces category, which is set to register the fastest value CAGR of 3% over 2021-2026. The category is followed by tomato pastes and purees, which will record a CAGR of 3.5% during the same period.
Likitha Nalluri, Consumer Analyst at GlobalData, says: “Since the COVID-19 pandemic, the salad dressing category has been undergoing a complete transformation with formulations being revamped with simpler, more natural, and clean-label ingredients. Just like seasonings, the new dressings and sauces are addressing the consumer desire to add more flavour to bland salads without compromising on their health goals.
“Besides making dishes more appetizing, the new product lines are evolving into pourable health and nutrition supplements that can instantly elevate the nutritional value of the meal. Along the same lines, organic fermented sauces and condiments that contain beneficial probiotics are fast gaining popularity in South Korea.”
‘E-retailers’ was the leading distribution channel in the South Korean seasonings, dressings & sauces market in 2021, followed by ‘hypermarkets & supermarkets’, and convenience stores.
The per capita expenditure on seasonings, dressings & sauces in South Korea increased from $10.8 in 2016 to $17.4 in 2021 and will further reach $20.5 in 2026, which is markedly higher than the regional level of $9.1, and the global average of $13.8.
​CJ Group, Daesang, and Sempio Foods Company were the top three companies in the South Korean seasonings, dressings & sauces market by value in 2020, and Chung Jung One and Bibigo were the leading brands.
Nalluri concludes: “Following the onset of the COVID-19 pandemic, consumers have become increasingly cautious about their health and wellness. They are seeking natural and clean label products that align with their healthy lifestyles, providing nutrition and flavor in a single serve.
“Dressings and sauces enriched with beneficial nutrients such as probiotics and prebiotics, which can aid in digestive health, are poised to gain more traction in the South Korean market in the immediate future.”
GlobalData plc published this content on 28 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2022 08:11:02 UTC.


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