Moving in: The growing popularity of Korean cuisine will continue to benefit industry revenue

The Korean Restaurants industry is currently growing faster than the overall economy thanks to a growing popularity in Korean cuisine. As this type of food becomes more ingrained in high-end dining, industry revenue is expected to grow over the five years to 2017. This trend is expected to continue and even accelerate in the five years to 2022...read more.

Industry Statistics & Market Size
Revenue
$5bn
Annual Growth 12-17
2.1%
Forecast Growth 17-22
Profit
Employment
72,740
Businesses
6,482
Market Share of Companies
There are no companies with a dominant market share in this industry
What Our Customers Say

Industry Threats & Opportunities

  • Korean restaurants have leveraged their growing popularity and increasingly presented high-end offerings
  • The return to high-end dining has helped bolster industry profitability over the past five years
  • The popularity of Korean flavors at food trucks and in “foodie” media have set the stage for growth
  • Industry Report - Industry Analysis Chapter

    Korean restaurants in the United States have experienced steady growth over the five years to 2017. Traditionally dominated by family-owned operations catering largely to immigrant populations, the Korean Restaurants industry has increasingly gained the attention of the restaurant-going US public during the five-year period. Noting the widespread popularity in the United States of many Korean cuisine staples (such as fried chicken and barbecue), food and restaurant consulting company Baum and Whiteman cited 2012 as the year that Korean cuisine finally achieved widespread popularity, going so far as to speculate that kimchi may have been “the ingredient of the year”. At ...purchase to read more.

    Additional Insights for the Korean Restaurants Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Korean Restaurants Industry are

  • Ability to control stock on hand
  • Ability to quickly adopt new technology
  • Access to multiskilled and flexible workforce
  • IBISWorld analysts also discuss how external factors such as Consumer spending and Agricultural price index in the Korean Restaurants industry impact industry performance..

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    What is the Korean Restaurants Industry?

    This industry includes restaurants that prepare and serve Korean food and offer table (waiter) service. Food can be prepared to either be eaten on the premises at restaurant locations or for take-out.

    Industry Products
  • Sit-down restaurant sales
  • Take-out restaurant sales
  • Beverage sales
  • Industry Activities
  • Preparing and serving Korean food (for on-premises eating)
  • Preparing and serving Korean food (for take-out)
  • Preparing and serving Korean beverages
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Consumer spending
  • Agricultural price index
  • Time spent on leisure and sports
  • Urban population

  • Current Performance
  • Sector-wide trends
  • Kimchi rising
  • Chart: Revenue Growth

  • Industry Outlook
  • The effects of the upscale market
  • Profit and landscape
  • Table: Korean Restaurants Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Korean Restaurants Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Beef & Pork Wholesaling
  • Beer Wholesaling
  • Egg & Poultry Wholesaling
  • Fish & Seafood Wholesaling
  • Flour Milling
  • Fruit & Vegetable Wholesaling
  • Restaurant & Hotel Equipment Wholesaling
  • Seasoning, Sauce and Condiment Production
  • Wine & Spirits Wholesaling

  • Products & Services
  • Sit-down restaurant sales
  • Beverage sales
  • Take-out restaurant sales
  • Chart: Korean Restaurants Industry Products and Services Segmentation

  • Demand Determinants
  • Demographic trends
  • Health consciousness
  • Convenience

  • Major Markets
  • Highest quintile of incomes
  • Fourth quintile of incomes
  • Middle quintile of incomes
  • Second quinitile of incomes
  • Lowest quinitile of incomes
  • Chart: Major Market Segmentation for the Korean Restaurants Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchasesRent and utilitiesOther
  • Chart: Cost Structure Benchmarking – Sector vs Korean Restaurants

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Korean Restaurants Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Korean Restaurants Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Korean Restaurants Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Consumer spending (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Bulgogi
  • Sliced beef that has been marinated in a combination of soy sauce, sugar and garlic before being grilled.
  • Galbi
  • A variety of marinated, grilled Korean beef or pork dishes.
  • Kimchi
  • A sour, spicy Korean side dish, traditionally made of fermented cabbage or radishes.
  • Table Service
  • Food service brought to the customers’ tables by servers (also known as waiters and waitresses).
  • Why buy this report?

    The Korean Restaurants industry market report contains data and analysis of the most influential current and future trends shaping the industry. IBISWorld’s in-depth industry market research is presented in a logical, user-friendly format, and provides growth and profit forecasts for a five-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Korean Restaurants:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Korean Restaurants market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Korean Restaurants, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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