A nutritious diet that is well-balanced must include fresh fruits and vegetables. Essential vitamins and minerals that can aid in a variety of illnesses and deficiencies are abundant in fresh fruits and vegetables. Raw and processed are the two varieties of these. All across the world, both in home and professional settings, fresh fruits and vegetables are used in cuisine. Consuming fruits and vegetables high in vitamins, minerals, fiber, and antioxidants has been shown to protect against heart disease and other chronic illnesses including cancer. Guidelines for a balanced diet must therefore take fruit and vegetable consumption into account. The safety and nutritional value of food have become more important concerns for consumers in emerging countries as a result of rising health consciousness.
South Korea Fruits and Vegetables Market Driving Factors and Challenges
Driving Factors- Significant trends in this market include the introduction of online grocery shopping, rise in branding, technological advancements, and a steadily rising share. Consumers are growing increasingly focused on improving their general health and well-being and are becoming more health conscious, particularly the younger generation. Additionally, consumers are choosing a healthier diet due to the increased prevalence of obesity and other related illnesses. Surveys indicate that people are becoming more proactive than they were in the past when it comes to health issues. Although medical professionals have traditionally been called upon to treat patients when they become ill, a growing interest in preventative therapies shows that attitudes and behaviors have changed, particularly among youth. Consequently, there is a growing need for fruits and vegetables.
Challenges- Prices may fluctuate often owing to variations in the availability of fruits and vegetables brought on by changes in the weather. Variations in rainfall, floods, droughts, and intense heatwaves all affect how quickly fresh fruits and vegetables are produced. While an increased production rate will drastically reduce the rate, which is a loss for the farmers, a decreased production rate will result in higher prices for fruits and vegetables. As a result, fluctuations in produce prices could slow the market's rate of expansion. Additionally, the government's inadequate financial support for developing regions hinders market share.
Impact of COVID-19 on South Korea Fruits and Vegetables Market
The fruit and vegetable market was significantly impacted by the COVID-19 pandemic. With restaurants, bars, and schools disappearing, producers and distributors were forced to move almost entirely from the food service industry to the retail sector. The fresh product supply chain stayed steady, but shippers claimed that staffing and logistical challenges made the shift challenging. We observe long-term shifts in the ways that consumers buy food online, more barriers to entry for immigrants in the labor market, and a significant amount of local produce being distributed and perhaps retailed.
South Korea Fruits and Vegetables Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as Chung Jung Won Co., Ltd., CJ Freshway Corporation, Daesang FNF Co., Ltd., Hanwha Fresh Co., Ltd., Joy Farm Co., Ltd., Korea Yakult Co., Ltd., Lotte Fresh Farm Co., Ltd., NongHyup Agribusiness Group, Oriental Trading Co., Ltd., Sempio Foods Company, Others.
South Korea Fruits and Vegetables Market Segmentation:
By Product: Based on the Product, South Korea Fruits and Vegetables Market is segmented as; Fresh Fruits and Vegetables, Frozen Fruits and Vegetables, Dried Fruits and Vegetables.
By Distribution Channel: Based on the Distribution Channel, South Korea Fruits and Vegetables Market is segmented as; Grocery Stores, Supermarket/Hypermarkets, Online, Others.
By Application: Based on the Application, South Korea Fruits and Vegetables Market is segmented as; Raw Eating, Juices, Salads, Preserves and Jams, Others.
By Region: This research also includes data for Northern Region, Southern Region, Western Region, Eastern Region, Central Region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.