Soups is one of the food category offered in restaurants, along with the meat dishes and meal deals and combinations categories, according to GlobalData’s menu intelligence database. According to GlobalData’s menu analysis of the soups category in South Korea report, the soups category constitutes a 14% share among all restaurant types in South Korea foodservice market. The report analyses 1,422 menu items from different foodservice outlets in South Korea and provides an overview of the food categories available across its foodservice channel. Buy the report here.
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Soup was found to be the most-used ingredient in the soups category, featuring in 60% of menu items, followed by rice and noodle. Fish & seafood and vegetables were also significant ingredients.
An analysis of the annual price change between 2023 and H1 2024 indicates that the average menu prices in the soups category have dropped by 88%. As on-premises dining gains momentum following the COVID-19 pandemic, the soups category in South Korea is expected to experience overall growth.
Different categories exhibited mixed price movements within South Korea foodservice market between 2023 and H1 2024. Of all the categories, the meal deals and combinations category exhibited the highest price increase, while soups experienced a maximum price decrease.
An in-depth analysis of the soups category price trend by location reveals consumption trends of each region. The graph below represents the change in soups category menu prices during 2022-2024 across the top five locations. As seen below, soups category menu items in Korea became more affordable as compared to Pyeongtaek-si and Daegu-South Korea.
While consumers become more price conscious, operators look for ways to optimize their costs to retain margin and market share. In South Korea market, restaurants operators rely on innovation as a crucial tactic to appeal to customers as well as optimize costs. As increasing number of consumers seek novel experiences, foodservice operators must continuously innovate their menu choices, providing superior taste and quality along with a diverse selection of dishes. Operators should highlight the distinctive tastes and flavours of their food and beverage offerings in a convenient format to enhance customer engagement.
To further understand and explore GlobalData’s insight into South Korea category menu, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Online Menu Intelligence is a database of cost and profit foodservice operators on menus within Foodservice Intelligence Center. The tool’s several search options, such as cuisine, category, menu item, ingredient, and restaurant, help users to conduct focused searches in terms of price analysis (average price and change in prices), menu item claims, popular categories, cuisine/ingredient penetration levels, etc.
