Coffee, beverage shops lead Korea's foodservice sector in 2019: study
The overall foodservice industry grew by 9% year-on-year.
With over 20% growth, the coffee and beverage sectors led the South Korean restaurant industry with a 19% increase in store count in 2019.
Citing data from NICE Genie Data, Korea Bizwire noted that the restaurant industry has risen by 3.2% year-on-year to a total number of 663,000 in 2019 from 604,000 over the past three years.
The overall foodservice industry grew by 9% year-on-year, which expected value has exceeded 180 million won (US$155.2bn) last year.
The report also noted the growth rates of other sectors, including carb food (15.2%), Chinese food (14.3%) and bakeries (11.7%)
Meanwhile, Western food (3.8%) and buffets (0.5%) sectors lagged behind, whilst the growth rate of general bars dipped by 1.3%.
Read the full report here.
