The industry will grow at a Compounded Annual Growth Rate (CAGR) of 4.1% by value and 3.4% by volume for the same time period.
An on-the-go lifestyle is aiding the growth of energy bars in South Korea. The category will display the highest growth in volume at a CAGR of 4.8% up to 2017. Energy bars is second only to the staple Bread & Rolls category and will grow at a CAGR of 5.1% by value up to 2017.
Convenience is a large factor for the young middle class of South Korea. This consumer segment has busy lives and requires products that can be consumed quickly and easily. Cereal Bars are therefore a popular choice for individuals with a fast-paced lifestyle. The category is expected to grow at a CAGR of 4.9% by value and 4.7% by volume up to 2017.
In keeping with the healthy lifestyle trend, Cookies will show the least growth over the next five years, with value and volume CAGRs of 3.0% and 2.8% respectively, to 2017.
© FoodBev Media Ltd 2024