South Korea Frozen Food Market Size & Outlook, 2023-2030
South Korea frozen food market, 2018-2030 (US$M)
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South Korea frozen food market highlights
- The South Korea frozen food market generated a revenue of USD 6,306.7 million in 2023 and is expected to reach USD 9,859.7 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.6% from 2024 to 2030.
- In terms of segment, frozen desserts was the largest revenue generating product in 2023.
- Fruits & Vegetables is the most lucrative product segment registering the fastest growth during the forecast period.
Frozen food market data book summary
| Market revenue in 2023 | USD 6,306.7 million |
| Market revenue in 2030 | USD 9,859.7 million |
| Growth rate | 6.6% (CAGR from 2023 to 2030) |
| Largest segment | Frozen desserts |
| Fastest growing segment | Fruits & Vegetables |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Fruits & Vegetables, Potatoes, Ready Meals, Meat, Fish/Seafood, Frozen Desserts, Bakery Products |
| Key market players worldwide | Nestle SA, Unilever PLC ADR, General Mills Inc, Nomad Foods Ltd, Tyson Foods Inc Class A, Conagra Brands Inc, Wawona Frozen Foods, Bellisio Foods, Kellogg's, Kraft Foods Group |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.3% of the global frozen food market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China frozen food market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 19,170.3 million by 2030.
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Frozen Food Market Scope
Frozen Food Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea frozen food market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to frozen food market will help companies and investors design strategic landscapes.
Frozen desserts was the largest segment with a revenue share of 23.97% in 2023. Horizon Databook has segmented the South Korea frozen food market based on fruits & vegetables, potatoes, ready meals, meat, fish/seafood, frozen desserts, bakery products covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea's culinary culture and eating habits have a significant impact on the variety of frozen foods found in the market. Known for its emphasis on freshness and bold flavors, Korean cuisine has inspired frozen food manufacturers to create frozen versions of traditional dishes such as bibimbap, kimchi fried rice, and bulgogi.
The rise of the Korean wave or ‘Hallyu’ has also contributed to the growing demand for frozen Korean snacks and street foods. Korean cuisine is renowned for its focus on using fresh, high-quality ingredients. This emphasis on freshness has also translated into the production of frozen foods.
Frozen food manufacturers in South Korea have adapted traditional recipes to create frozen versions of popular Korean dishes, making it easier for people to enjoy these delicacies at home. This has also made it convenient for individuals with a busy lifestyle to access these dishes without compromising on the taste and quality.
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Target buyers of South Korea frozen food market databook
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Our clientele includes a mix of frozen food market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea frozen food market , including forecasts for subscribers. This country databook contains high-level insights into South Korea frozen food market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea frozen food market size, by product, 2018-2030 (US$M)
South Korea Frozen Food Market Outlook Share, 2023 & 2030 (US$M)
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