About Foodeat

Why Foodeat?

Asian Market

  • Proliferating Fine Food concepts stores, Fine Food corners, and a booming demand for gourmet food & wines in Asia.
  • A market of 250 million consumers, all looking for the pleasure in their food consumption.

KOREA,  THE LABORATORY OF ASIA FOR NEW TRENDS

  • 1st high tech country in Asia, with the highest rate of connected people (Internet, WiFi, smartphones…),
  • 1st medical tourism country in Asia, for well-being surgery (plastic surgery, eye surgery…),
  • 1st trendy music country in Asia, with Korean Pop,
  • And now, as well, the laboratory for new developments in the Fine food industry.
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A very attractive local market. A population of 50 million. Seoul and suburbs: 23 million of inhabitants. A young population (14-64 years = 73%), high revenue. Korea imports 74% of its food, it’s a new market open to different food cultures & lifestyles. It’s a market looking for quality products.
  • Over 55 department stores with a Fine Food corner in Seoul,
  • Over 390 supermarkets in Korea,
  • Over 50 000 restaurants in Seoul,
  • Over 300 000 restaurants in Korea,
  • Over 15 five star hotels in Seoul alone.
#What’s more the first-ever Seoul Michelin Guide was launched in November, 2016! “The Michelin Guide highlights each country’s culinary scene, evolving trends and emerging chefs,” said Michael Ellis, the international director of the Michelin Guide.”Seoul has emerged as one of the world’s most exciting fine dining destinations, and the quality and the diversity of the cuisine here have delighted the inspectors.”

KOREA, A PERFECT BRIGDE HEAD

Korea is in the middle of a huge market for Fine Food, wines & spirits, with Japan, China (North and East) and Taiwan.

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JAPAN

Japan has been and continues to be an important market for Western food producers and trends in the Japanese food and beverage market indicate that there will be increasing opportunities for Western producers in the future. High quality imported food and beverages are in strong demande, and Japanese consumers are willing to pay higher prices for unique, safe and high-quality products.  Products with Geographical Indications, indicating authenticity, variety, quality, tradition and heritage of the products, are well positioned to perform on the market trends in Japan. Then, today, Japan is the most developed Asian country for the Fine Food industry, still following the new trends, and serving as a locomotive for other North Asian countries. Japan also has the biggest concentration in Asia of Michelin star restaurants. (source: Tastes of Europe)

CHINA

China became the world’s largest market for food and grocery retail in 2011 and total retail sales grew 15% annually until 2015 according the Chinese Ministry of Commerce. Despite a fragmented distribution infrastructure and growing local competition, opportunities for Western SMEs to sell their products in China are likely to grow, driven by increasing disposable income and urbanization, an improving logistics system, growing concerns on food safety as well as a growing taste for foreign Fine Food. Highlighted opportunities for Western SMEs in the sector are: wine & spirits, cheese, milk, cream, yoghourt, premium ice cream, pasta, sauces, tomato products, olive oil, beer, chocolate, and high-end confectionery, biscuits, snacks, breakfast cereal, coffee, caviar, delicatessen products, pastry products … This development can be seen in China, with big, international cities, like Shanghai, Beijing, Guangzhou, Shenzhen, Chengdu showing incredible development of bakeries, pastries, Fine Food corners in 5* hotels, gourmet food corners in the supermarkets of imported products, like City Shop, City Super, Ole.(source: The institute of Grocery Distribution) CHINA reflects the food development of HONG KONG, which followed European trends brought by the British, 15 years ago.
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Taiwan

The Taiwanese food & grocery retail industry had total revenues of $88.8 billion in 2015, representing an annual growth rate of 3% between 2011 and 2015. The liberalization of foreign investment in Taiwan in the late 1980s led to a number of foreign businesses entering the market, with the Taiwanese food & grocery retail industry becoming one of the most developed in Asia. Taiwan has still a big appetite for Western culture, looking for new Fine Food, and attracted by new concept food stores that follow trends in Japan and the USA. (source: market research.com)