Spreads - South Korea
- South Korea
- Revenue in the Spreads Market is projected to reach €45.80m in 2025.
- Revenue is expected to show an annual growth rate (CAGR 2025-2029) of 8.64%, resulting in a projected market volume of €63.81m by 2029.
- With a projected market volume of €1,680.00m in 2025, most revenue is generated in China.
- In the Spreads Market, the number of users is expected to amount to 1.9m users by 2029.
- User penetration will be 3.4% in 2025 and is expected to hit 4.0% by 2029.
- The average revenue per user (ARPU) is expected to amount to €27.79.
Analyst Opinion
The Spreads eCommerce Market in South Korea is witnessing moderate growth, fueled by the rising demand for convenient and diverse food options. Factors such as increasing online shopping preference, health-conscious consumer trends, and innovative product offerings are contributing to this expansion.
Customer preferences: Consumers in South Korea are gravitating towards healthier spread options, such as organic nut butters and low-sugar sweeteners, reflecting a growing awareness of nutrition and wellness. Additionally, the popularity of fusion flavors is on the rise, influenced by the increasing interest in global cuisines. The younger demographic, particularly millennials and Gen Z, are driving eCommerce growth by prioritizing convenience and sustainability in their purchasing decisions, leading brands to innovate packaging and ingredient sourcing to meet these evolving preferences.
Trends in the market: In South Korea, the Spreads eCommerce Market is experiencing a significant shift towards healthier options, with consumers increasingly favoring organic nut butters and low-sugar sweeteners. This trend reflects a heightened awareness of nutrition and wellness among the populace. Additionally, the rise of fusion flavors is gaining traction, driven by a fascination with global cuisines. The younger demographic, particularly millennials and Gen Z, is propelling eCommerce growth, placing a premium on convenience and sustainable practices. This evolution is prompting brands to innovate in packaging and ingredient sourcing, signaling a transformative period for stakeholders in the industry.
Local special circumstances: In South Korea, the Spreads eCommerce Market is uniquely influenced by the country's emphasis on health and wellness, driven by traditional dietary practices that prioritize fresh, minimally processed foods. The local fermentation culture also encourages innovation in spreads, enhancing the appeal of probiotic-rich options. Moreover, stringent food safety regulations promote higher standards for product quality, compelling brands to adopt cleaner labels. The prevalence of mobile payment systems further facilitates online shopping, enabling swift access to a diverse array of spreads and sweeteners, aligning with consumer preferences for authenticity and convenience.
Underlying macroeconomic factors: The Spreads eCommerce Market in South Korea is shaped by macroeconomic factors including consumer spending patterns, disposable income levels, and economic growth. With a stable national economy and rising disposable incomes, South Koreans are increasingly willing to invest in premium spreads and sweeteners that align with health trends. Additionally, global supply chain dynamics and trade agreements play a role in the availability and pricing of imported products, impacting local consumer choices. The government's focus on supporting small and medium enterprises fosters innovation in the food sector, while eCommerce growth is driven by robust internet penetration and mobile usage, enhancing consumer access to diverse product offerings.
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