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Get a Detailed Picture of the Bottled Water Industry in South Korea
DUBLIN, Ireland-(Business Wire)-February 14, 2008 - Research and Markets (http://www.researchandmarkets.com/reports/c82627) has announced the addition of "Bottled Water in South Korea" to their offering.
Our Bottled Water in South Korea report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data (2001-2006), allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they legislative, distribution, packaging or pricing issues. Forecasts to 2011 illustrate how the market is set to change.
Product coverage includes: still bottled water, carbonated bottled water, flavoured bottled water and functional bottled water
Data coverage: market sizes (historic and forecasts), company shares and brand shares
Why buy this report?
— Get a detailed picture of the bottled water industry
— Pinpoint growth sectors and identify factors driving change
— Understand the competitive environment, the market's major players and leading brands
— Use five-year forecasts to assess how the market is predicted to develop
With a network of over 600 analysts worldwide, we have the unique capability to develop reliable information resources to help drive informed strategic planning.
Executive summary
Downward movement continues in 2006
After a marginal downward movement in 2005, the soft drinks industry witnessed a continued sales decline in 2006. An adverse domestic economy was critical to the contraction of demand for soft drinks and growing health concerns among consumers resulted in a continued sales drop of major product groups such as carbonates and other sugar-rich products. Due to limited disposable incomes, consumer demand shifted to healthy or cheaper soft drinks alternatives resulting in a steeper decline in value than in volume terms.
Health concerns reshape soft drinks industry
Growing interest in health and wellness had a major impact on recent changes in the domestic soft drinks industry. While bottled water continued witnessing robust sales volume growth, Asian still RTD tea and liquid concentrate made noticeable headway and produced the most innovative new product development in 2006. Because Asian still RTD tea and liquid concentrate products are increasingly regarded as healthy alternatives, they experienced strong double-digit growth in current value and volume sales in 2006, along with a number of new product launches.
RTD tea sees the most dynamic growth
In 2006, RTD tea recorded the highest sales growth in both current volume and value terms bolstered by a number of new product launches in Asian still RTD tea. Over the review period, Asian still RTD tea continued to achieve positive sales growth due to the increasing demand for RTD green tea variants. Consumers have shown a greater interest in the health benefits of green tea and major soft drinks companies have introduced new RTD green tea products to boost demand further. In 2006, Asian still RTD tea products became even more diverse as companies launched various new products. With the help of extensive marketing activities by major players, demand for Asian still RTD tea made remarkable progress in 2006.
Companies are forced to diversify
With the declining demand for soft drinks, growing competition forced many soft drinks manufacturers to enter new product groups. The marketplace witnessed the entry of many manufacturers of packaged food and dairy products, especially in the developing areas of soft drinks, forcing soft drinks companies to diversify their products to remain competitive. For example, companies that were traditionally involved with carbonates have expanded to take advantage of the growing potential of RTD tea and bottled water and companies that were involved in fruit/vegetable juice introduced new vinegar-based drinks to capitalise on the rising demand for drinking vinegar. As a result, developing soft drinks product groups were the focus of much more competition in 2006 with more players and diversified products.
Future growth will be driven by healthy alternatives
Over the 2006-2011 forecast period, positive sales growth is expected to be sustained by the rising demand for healthy alternatives. With slow economic recovery anticipated alongside growing health concerns, positive sales growth will not be realised for carbonates and fruit/vegetable juice. In contrast, bottled water, functional drinks, concentrates and RTD teas are likely to drive the industry's progress, as the soft drinks industry will continue to be influenced by the global health and wellness trend. Although most product groups are quite mature, overall development will be driven by higher demand in niche areas as well as innovative new products. Sales volume growth will be slightly higher than value growth over the forecast period, due to the increasing sales of cheaper products such as bottled water. -0- *T Companies Mentioned: Seoksu & Puriss Co Ltd Namyang Dairy Products Co Ltd Dongwon F&B Co Ltd Lotte Chilsung Beverage Co Ltd *T
For more information, visit http://www.researchandmarkets.com/reports/c82627
Source: Euromonitor International
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