Baby Cereals & Other Dried Baby Food - South Korea

South Korea

Highlights

Revenue in the Baby Cereals & Other Dried Baby Food market amounts to US$14.54m in 2024. The market is expected to grow annually by 6.36% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$2bn in 2024).
In relation to total population figures, per person revenues of US$0.28 are generated in 2024.
In the Baby Cereals & Other Dried Baby Food market, volume is expected to amount to 777.70k kg by 2029. The Baby Cereals & Other Dried Baby Food market is expected to show a volume growth of 4.5% in 2025.0.
The average volume per person in the Baby Cereals & Other Dried Baby Food market is expected to amount to 0.0kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureMethodology

The Baby Cereals & Other Dried Baby Food Market in South Korea is experiencing minimal growth, impacted by factors such as low birth rates and increasing health consciousness among consumers. However, the market is still driven by the convenience of online baby food services and the rising demand for healthier options.

Customer preferences: The demand for organic and natural baby food products has been on the rise in South Korea, driven by a growing health-conscious population and concerns over food safety. This trend has extended to the baby cereals and other dried baby food market, with parents opting for healthier and less processed options for their children. Additionally, there is a growing preference for locally sourced ingredients and transparent labeling, reflecting a deeper cultural emphasis on traditional and natural foods.

Trends in the market: In South Korea, the Baby Cereals & Other Dried Baby Food Market of the Baby Food Market within The Food market is experiencing a trend towards organic and natural products. This trend is driven by increasing health consciousness among parents and concerns about the safety of conventional baby food. As a result, there is a growing demand for organic and non-GMO baby food products. Additionally, there is a rise in online sales of baby food, with more parents turning to e-commerce platforms for convenience and a wider range of options. These trends are expected to continue, with implications for industry stakeholders including increased competition and the need for innovative marketing strategies to cater to the changing preferences of consumers.

Local special circumstances: In South Korea, the Baby Cereals & Other Dried Baby Food Market of the Baby Food Market within The Food market is heavily influenced by the country's strong emphasis on health and wellness. This has led to a high demand for organic and natural baby food products, as well as a strong preference for locally produced goods. Additionally, South Korea's strict regulations on food safety and labeling have also played a significant role in shaping the market, as consumers place a high value on transparency and quality control. The country's strong e-commerce infrastructure has also contributed to the growth of the market, as online shopping for baby food has become increasingly popular among busy, tech-savvy parents.

Underlying macroeconomic factors: The Baby Cereals & Other Dried Baby Food Market of the Baby Food Market within The Food market is heavily impacted by macroeconomic factors such as consumer purchasing power, government policies, and global economic trends. The market performance is highly dependent on the overall economic health of the country, including factors like GDP growth, inflation rates, and unemployment rates. National fiscal policies, such as tax rates and subsidies, also play a crucial role in shaping the market by affecting consumer spending and business operations. Furthermore, the demand for baby food products is influenced by demographic factors such as birth rates and population growth, as well as cultural and societal trends. These factors collectively shape the market landscape and determine the growth potential of the Baby Cereals & Other Dried Baby Food Market in South Korea.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. 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 relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.