Summary

Dietary patterns in South Korea have changed significantly, with people choosing a wider variety of healthier snack options. Owing to their alleged health advantages, nuts such as cashews, pistachios, walnuts, and almonds have become more and more popular. In line with the trend towards healthier eating practices, Korean consumers place a high value on nuts due to their high nutritional content, which includes good fats, protein, vitamins, and minerals. Due to low domestic output, the majority of South Korea's tree nut needs are satisfied by imports. High-quality imported nuts are highly valued by consumers, especially those that come from well-known sources such as the United States, Australia, and several European nations. The demand for imported nuts in the Korean market is driven by the perception that they are of higher quality and taste. The South Korean market for tree nuts has grown significantly as a result of the growing emphasis on health and wellness. Campaigns to raise consumer awareness of nutrition and to emphasize preventative healthcare have prompted people to include nuts as a nutritious snack option in their diets. The demand for nuts that are thought to have health benefits has increased as a result of this trend. Trade agreements and government regulations are important factors in the importing of nuts into South Korea. In order to ensure customer trust and adherence to quality benchmarks, nut exporters aiming to enter the Korean market must adhere to stringent quality standards and food safety rules.

According to the research report "South Korea Tree Nuts Market Overview, 2029," published by Bonafide Research, the South Korea Tree Nuts market is predicted to reach market size of more than USD 1.5 Billion by 2029. Tree nut consumption is fueled by the South Korean population's great emphasis on health and fitness. Nuts are recommended because they are high in protein, healthy fats, vitamins, and minerals, among other nutrients. In light of this, nuts are seen as a nutritious snack choice and a necessary component of a balanced diet, which is consistent with the health-conscious lifestyle that many Koreans have chosen. In South Korea, nuts are considered to be culturally significant and are frequently eaten on special occasions such as Chuseok (Korean Thanksgiving) and Lunar New Year (Seollal). Traditionally, nuts have been given as gifts and shared and consumed as part of feasts to commemorate good fortune, wealth, and family ties. Nut-based items have been innovatively introduced to the South Korean market, going beyond traditional usage. A broader range of consumers now have access to more options when it comes to incorporating nuts into their daily meals, thanks to the emergence of nut butters, flavored nuts, nut milks, and other value-added products. Premium nuts are popular as gifts for special events and holidays when they are presented in sophisticated and visually appealing containers. Nuts are regarded as elegant and thoughtful gifts, especially the premium imported variety, which reflects the culture of respect for cultural customs and generosity. Imported nuts must meet strict quality and food safety regulations in South Korea. In order to ensure compliance and be admitted into the market, exporters have to abide by these rules. The nation's dedication to guaranteeing safety and quality is demonstrated by compliance with these criteria.

Based on product type market is majorly divided into almonds, cashews, walnuts, pistachios, hazelnuts, macadamia, pecans, and others. Walnuts are expected to gain significant traction in South Korea tree nuts market. Consistently high in omega-3 fatty acids, antioxidants, vitamins, and minerals, walnuts are renowned for their remarkable nutritional profile. Consumption of foods with purported health benefits is on the rise among South Koreans due to a growing interest in wellness and health. The consumption of walnuts is fueled by health-conscious people who find them appealing due to their connections to heart health, brain function, and general well-being. Traditional Korean cuisines and contemporary cuisine alike can benefit from the adaptability of walnuts in the kitchen. Rice cakes (tteok), porridges, salads, and baked products are just a few of the recipes that utilize them. The unique taste and texture of the nut enhance its attractiveness and potential for higher consumption across a variety of cuisines. Walnuts that are imported from well-known nations, such as the United States and Europe, are highly prized in South Korea due to their perceived superior quality. Because of the market's preference for premium imported nuts and the health benefits associated with walnuts, walnuts are a desirable alternative for consumers. Customers in South Korea are looking for more varied options than only traditional selections as the range of nuts available on the market grows. The market demand for a broader variety of nuts that can accommodate a range of tastes and preferences has been met by the development of walnuts and other nut varieties.

Based on form segment market is bifurcated into whole, split and other. Whole formed tree nuts are commonly preferred among consumers in South Korea. South Korean cuisine has long included whole-developed tree nuts. These can be found in a number of customary meals, snacks, and desserts. Their increasing popularity among consumers can be attributed to their use in recipes such as porridge, side dishes, and rice cakes (tteok), which highlight their significance in preserving cultural culinary history. Snacking and cooking with whole-formed tree nuts are more flexible. Their flavors and textures are varied, and they can be eaten raw, roasted, or utilized in many different recipes. These nuts are preferred by customers because of their natural state, which offers a variety of culinary applications to suit a wide range of palates. Whole-formed tree nuts, especially when sourced from reputable origins, are perceived to offer superior quality and freshness. Consumers value nuts in their natural state as a sign of freshness and unaltered quality, contributing to their preference over processed or altered forms. Majority of the tree nuts products are distributed through hypermarket/ supermarket in South Korea. A major contributing factor to the appeal of supermarkets and hypermarkets is convenience. In South Korea, these retail concepts are extensively available in both urban and suburban regions. Customers may conveniently shop for tree nuts and other groceries thanks to their many locations and extended operation hours. South Korean consumers have faith in the quality control procedures that supermarkets and hypermarkets have put in place. These massive retail chains maintain strict quality control measures, guaranteeing the safety, quality, and freshness of perishable goods like tree nuts. This guarantee helps customers feel more comfortable buying nuts from these businesses.

Considered in this report:
• Geography: South Korea
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report:
• South Korea Tree Nuts market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type:
• Almonds
• Cashews
• Walnuts
• Pistachios
• Hazelnuts
• Macadamia
• Pecans
• Others

By Form:
• Whole
• Split
• Other

By Distribution Channel:
• Hypermarket/ Supermarket
• Conventional Store
• Specialty Store
• Online Retail

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Tree Nuts industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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