American cuisine was one of the cuisine types within bar channels, along with Italian cuisine, according to GlobalData’s menu intelligence database. In its menu analysis of bar in South Korea report, GlobalData analyses 67 menu items across bar outlets and provides an overview of various foodservice channels in South Korea. According to GlobalData, bar makes up 0.085% of all restaurant types in South Korea. Buy the report here.
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Cheese was found to be the most-used ingredient in bar establishments, featuring in 42% of menu items, followed by chicken and herbs, spices & seasonings. Pork and vegetables were also significant ingredients. An analysis of menu categories reveals that pasta & pizza, salads & sides, alcoholic drinks, soft drinks and burgers were most popular within the bar format.
An analysis of the annual price change between 2023 and H1 2024 indicates that the average menu prices in South Korea bar channel have dropped by 0.66%. Considering all channels (including bar) the average price change was 0.18%. As on-premises dining gains momentum following the COVID-19 pandemic, the bar segment in South Korea is expected to experience overall growth. Moreover, the introduction of new menu items that emphasize health and wellness generates interest in those seeking nutritious menu options and greater variety.
Different restaurant types exhibited mixed price movements within South Korea foodservice market between 2023 and H1 2024. Of all the restaurant types, QSR exhibited highest price hike, while hotel & motel experienced a maximum price decrease.
An in-depth analysis of bar price trends by location reveals consumption trends of each region. The graph below represents the change in bar menu prices between 2023 and H1 2024 across the top five locations. As seen below, bar menu items in Changcheon-dong became more affordable as compared to Seoul and Busan-South Korea.
While consumers become more price conscious, operators look for ways to optimize their costs to retain margin and market share. In the Korean market, bar operators rely on innovation as a crucial tactic to appeal to customers as well as optimize costs. As increasing number of consumers seek novel experiences, foodservice operators must continuously innovate their menu choices, providing superior taste and quality along with a diverse selection of dishes. Operators should highlight the distinctive tastes and flavors of their food and beverage offerings in a convenient format to enhance customer engagement.
To further understand and explore GlobalData’s insight into South Korea bar menu, buy the full report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Online Menu Intelligence is a database of cost and profit foodservice operators on menus within Foodservice Intelligence Center. The tool’s several search options, such as cuisine, category, menu item, ingredient, and restaurant, help users to conduct focused searches in terms of price analysis (average price and change in prices), menu item claims, popular categories, cuisine/ingredient penetration levels, etc.
