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

The Korean Restaurants industry has performed in line with many core industries within the larger food services sector as a whole over the past five years. After years of flying under most Americans' culinary radar, Korean restaurants have experienced increased popularity in recent years. A number of Korean cuisine mainstays, such as barbecued meats; fried chicken; and sour, fermented pickled vegetables, have recently come into culinary vogue, driving the popularity of the meals this industry dishes out. Moreover, many food trucks at the forefront of the recent street vendor craze have offered Korean fusion delicacies (like bulgogi tacos), further bolstering the cuisine's visibility...purchase to read more.

Industry Statistics & Market Size
Revenue
$6bn
Annual Growth 13-18
3.9%
Forecast Growth 18-23
Profit
Employment
81,142
Businesses
7,060
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Korean restaurants have leveraged their growing popularity and increasingly presented high-end offerings
  • Many Korean restaurants are offering unique dining experiences to consumers
  • The popularity of Korean flavors at food trucks and in “foodie” media have set the stage for growth
  • Industry Report - Industry Locations Chapter

    As a service-based retail industry, full-service restaurants are dispersed largely in line with population and income distribution. For Korean restaurants specifically, the percentage of a region’s population that is Korean or Korean-American also influences business location concentration. Therefore, the industry is concentrated in the Southeast, West and Mid-Atlantic regions, representing 15.3%, 35.1% and 21.2%, respectively. Most of these regions have many relatively small establishments, in terms of employment and revenue.Typically, foodservice establishments tend to operate in regions that have a diverse culture as people in these regions are typically more open to trying new varieties of food. Add...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's in this report

    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
  • Healthy eating index
  • Urban population

  • Current Performance
  • Sector-wide trends
  • Kimchi and karaoke
  • Segmented growth
  • Chart: Revenue Growth

  • Industry Outlook
  • Growth in 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
  • Households earning $70,000 to $149,999
  • Households earning over $150,000
  • Households earning $30,000 to $69,99
  • Households earning less than $30,000
  • 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 competitionExternal 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 (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Consumer spending (2009-2023)

  • 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).
  • What Our Customers Say

    Why buy this report?

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    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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