The South Korean canned food market experienced value growth of 7% through 2012, reaching a value of Won1.1 trillion.
Canned processed food includes many preservatives in order to increase the shelf life so consumers considered the products less fresh or less healthy compared to chilled processed food.
Manufacturers tried to introduce low sodium and low fat canned ham under the health and wellness trend to chan
e consumers' prejudice, particularly in meat products. Canned tuna was also tried as a new concept of healthier food by leading players. Canned chicken is already considered by consumers as healthier food to help weight loss.
Canned meat and meat products benefited the most from the health and wellness trend where manufacturers were promoting more reduced salt products which was well-received by consumers. Thus, canned meat and meat products are expected to grow by 10% in 2012. However, canned fruit and canned vegetables are still considered negatively by consumers.
Dongwon F&B Co Ltd is expected to maintain the leading position with a 41% value share in 2012. The company is expected to have a strong performance for canned fish/seafood with a 59% value share. Dongwon Tuna is one of the most famous names and had strong brand awareness with Korean consumers over the past five years. Even though new players continually tried to enter the canned tuna market, Dongwon's brand power maintained a similar value share.
CJ Cheil Jedang Corp maintained its leading position in canned meat and meat products with a 44% value share, thanks to its Spam Ham brand in 2012.
Through to 2017, canned fish/seafood and canned meat and meat products will experience strong performances thanks to canned tuna and the healthy concept of ham and chicken breast under the health and wellness trend.
For more information on the South Korean canned food market, see the latest research: South Korean Canned Food Market
Follow us on Twitter @CandMResearch
Companiesandmarkets.com issues news updates and report summaries covering all major industries and sectors. The service provides additional client monitoring and timely alerts to breaking industry and sector news leading the day's business headlines. News articles, written by our staff, contain additional analyst insight, providing value added insight for our readers. News updates and real-time alerts on newly-released market reports are also available from our Facebook page, Twitter feed @CandMResearch and RSS links. We also welcome inquiries from business journalists and the news media.