[Trade Mini-Blog] The Premiumisation of Home Meal Replacement (HMR) Foods in Korea Presents Opportunities for British Food Manufacturers
Over the last ten years the sales of Home Meal Replacements (HMR) in Korea has grown to become a GBP 1.6 billion category. Initially a response to the demand for economical rather than quality foods, the category is now undergoing a premiumization which is set to double its size by 2023.
Young single-household Koreans are simply tired of cheap, low quality choices for their ready meals and want quality to accompany convenience. As a consequence, Korean food retailers want to fill their shelves with HMR foods of varying cuisines which include healthy ingredients offer vegan and gluten-free options.
In response to this demand, Korea’s second largest supermarket, Homeplus, formely Tesco Homeplus, recently began selling frozen potato and vegetable products imported from Iceland Groceries in the UK. Citing its increased nutrient density level as a result of the rapid freezing technology it uses as well as its free-from artificial additives and preservatives promise, the retailer placed its order as it is keen to provide this product offering and others like it to its customers.Are you a British company in the HMR space? Not in the Korean market yet? We can help you connect to a distributor or retailer here. Email our team: email@example.com.Posted by Jeongeun Yoo Posted on 23 Aug