[The Rise of K-Convenience Foods]③Half of Koreans Say "I Eat Them Once a Week"

20.8% of Consumers Purchase Ready To Eat Foods Weekly
Meal Kits, Which Require More Preparation, Are Bought Less Frequently
Top Reason for Buying Convenience Foods Is "Reasonable Cost"

As convenience foods have rapidly become integrated into daily life, it was found that one out of every five consumers purchased convenience foods at least once a week last year. However, purchase frequency differed depending on the level of preparation and convenience required for each type of convenience food.

Yonhap News

According to a survey by the Korea Rural Economic Institute on the purchase cycle of different types of convenience foods, the proportion of households purchasing 'Ready To Eat' products, such as sandwiches that can be consumed immediately without any preparation, was highest at 20.8% for those buying once a week. For 'Ready To Heat' products, such as instant curry or soups that require simple heating, the largest proportion of households, 19.9%, purchased them once a month, but a significant 18.3% also reported purchasing them once a week.

In contrast, for 'Ready To Cook' products, commonly known as meal kits, the highest proportion of respondents, 20.1%, said they purchased them less than once a month, while only 14.4% of households reported buying them once a week, which was relatively lower. The proportion of respondents who said they do not consume meal kits at all was 27.2%, higher than for other types of convenience foods. This difference was particularly pronounced among single-person households, with 32.0% stating they do not consume meal kits, compared to 23.7% for Ready To Eat products and 29.3% for Ready To Heat products.

This suggests that consumers who view convenience foods as a solution for saving time and increasing efficiency in their busy daily lives tend to purchase meal kits, which require more preparation, less frequently, while purchasing Ready To Eat products, which can be consumed immediately, more frequently. On the other hand, consumers who see convenience foods not just as a substitute meal but as a new form of home-cooked food tended to increase their purchases of products that allow for higher culinary quality, even if some cooking time is required.

The most common reason for purchasing convenience foods was "because it costs less," cited by 23.4% of respondents. This figure increased by 5.6 percentage points compared to 17.8% in 2019, five years ago. Following the perception of reasonable cost, the next most common reasons were "because cooking is cumbersome and bothersome" (19.1%), "because there is no time to cook" (17.1%), and "because it tastes good" (12.5%).

The rapid growth of the convenience food industry in recent years has led to overall improvements in product quality, and demand for convenience foods has increased as they allow people to enjoy meals with relatively little cost and effort. Additionally, persistent high inflation and the resulting increase in food expenses have also contributed to the popularization of convenience foods.

Conversely, the most common reason for not purchasing convenience foods was "because the price is too high," cited by 28.5% of respondents. When examined by average monthly household income, nearly half (43.9%) of consumers with a monthly income of less than 1 million won cited high prices as the reason for not purchasing convenience foods, while only 21.4% of those with a monthly income in the 5 million won range did so, which is about half the rate. Although convenience foods are expanding their consumer base with their convenience, many consumers still perceive price as a burden. Other reasons for not purchasing convenience foods included "because family meals should be cooked personally" (20.3%), "because they do not taste good" (16.3%), and "because there are concerns about quality" (13.4%).

Online channels are becoming increasingly important for purchasing convenience foods. According to market research firm Euromonitor, as of 2023, convenience stores accounted for the largest share of convenience food sales channels at 26.9%, followed by hypermarkets (23.2%), supermarkets (13.5%), and small supermarkets (7.5%), indicating that offline stores still dominate the market. However, while the share of offline channels is gradually declining, the share of online channels increased from 18.4% in 2020 to 21.4% in 2023, showing a clear growth trend.