Other Oils & Fats - South Korea
- South Korea
- Revenue in the Other Oils & Fats Market is projected to reach €13.59m in 2025.
- Revenue is expected to show an annual growth rate (CAGR 2025-2029) of 8.52%, resulting in a projected market volume of €18.85m by 2029.
- With a projected market volume of €267.30m in 2025, most revenue is generated in China.
- In the Other Oils & Fats Market, the number of users is expected to amount to 1.6m users by 2029.
- User penetration will be 2.9% in 2025 and is expected to hit 3.3% by 2029.
- The average revenue per user (ARPU) is expected to amount to €9.78.
Analyst Opinion
The Other Oils & Fats eCommerce Market within the Food Market in South Korea is experiencing moderate growth, influenced by factors such as changing consumer preferences, increasing health awareness, and the rising popularity of online shopping platforms for food products.
Customer preferences: Consumers in South Korea are increasingly prioritizing health-conscious choices, resulting in a growing demand for premium oils and fats that emphasize quality, such as extra virgin olive oil and organic coconut oil. Additionally, the influence of cooking shows and social media has heightened interest in diverse culinary practices, prompting consumers to explore exotic oils and fats. This trend is further supported by a younger demographic that values sustainability and ethical sourcing, driving online platforms to offer more transparent product information and eco-friendly options.
Trends in the market: In South Korea, the Other Oils & Fats eCommerce Market is experiencing a notable shift towards health-oriented and premium product offerings, as consumers increasingly seek out high-quality options like organic coconut oil and specialty oils such as avocado and sesame. This trend is amplified by the influence of cooking shows and social media, which encourage culinary experimentation and the adoption of diverse cooking styles. Additionally, the younger consumer demographic is driving demand for sustainable and ethically sourced products, prompting online retailers to provide detailed product information and eco-conscious alternatives. This evolution not only reflects changing consumer preferences but also poses significant opportunities and challenges for industry stakeholders, who must adapt to meet these heightened expectations.
Local special circumstances: In South Korea, the Other Oils & Fats eCommerce Market is shaped by a unique blend of cultural traditions and modern dietary trends. The prominence of traditional Korean cuisine, which often emphasizes the use of sesame and perilla oils, fosters a strong demand for these local products. Moreover, the South Korean government's stringent food safety regulations ensure high quality and transparency, influencing consumer trust in online purchases. The rise of health consciousness among consumers, driven by a collective focus on wellness, further propels the demand for premium, organic options, creating a dynamic market landscape.
Underlying macroeconomic factors: The Other Oils & Fats eCommerce Market in South Korea is significantly influenced by macroeconomic factors such as economic stability, consumer spending patterns, and trade policies. The nation's strong economic performance, characterized by a robust GDP growth rate, encourages higher disposable income, enabling consumers to invest in premium food products. Additionally, South Korea's commitment to sustainable development and organic farming initiatives aligns with the growing global demand for health-conscious options. Trade agreements facilitate easier access to diverse oils and fats, enhancing market competition and variety, while inflation rates and currency fluctuations impact pricing strategies, further shaping consumer behavior in the eCommerce landscape.
Methodology
Data coverage:
Data refers to B2C enterprises. Figures are based on the sale of physical goods via a digital channel to a private end consumer. This definition encompasses purchases via desktop computers (including notebooks and laptops) as well as purchases via mobile devices (e.g., smartphones and tablets). The following are not included in the eCommerce market: digitally distributed services (see instead: eServices), digital media downloads or streams, digitally distributed goods in B2B markets, and the digital purchase or resale of used, defective, or repaired goods (reCommerce and C2C). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.Modeling approach / Market size:
Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Statista Consumer Insights Global Survey), data on shopping behavior (e.g., Google Trends, Alibaba Trends), and performance factors (e.g., user penetration, price/product). Furthermore, we use relevant key market indicators and data from country-specific associations such as GDP, consumer spending, internet penetration, and population. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, internet penetration, and population.Additional Notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The impact of the Russia/Ukraine war is considered at a country-specific level.Visión general
- Revenue
- Analyst Opinion
- Sales Channels
- Users
- Global Comparison
- Methodology
- Key Market Indicators