Thai cuisine was one of the cuisine types in South Korea, along with American and South Korean cuisines, according to GlobalData’s menu intelligence database. In its menu analysis of Thai cuisine in South Korea report, GlobalData analyses 2,898 menu items in South Korea and provides an overview of the cuisines available across the foodservice channel in South Korea. According to the report, Thai cuisine makes up 1% of all restaurant types in South Korea. Buy the report here.
Rice was found to be the most-used ingredient in Thai cuisine featuring in 26% of menu items, followed by fish & seafood and chicken. Noodle and fruit were also significant ingredients.
An analysis of the annual price change between 2022 and H1 2023 indicates that the average menu prices in the Thai cuisine have dropped by 29%. As on-premises dining gains momentum following the COVID-19 pandemic, the Thai cuisine in South Korea is expected to experience overall growth.
Different cuisines exhibited mixed price movements within South Korea foodservice market between 2022 and H1 2023. Of all the cuisines, International cuisine exhibited highest price increase, while Italian cuisine experienced a maximum price decrease.
An in-depth analysis of Thai cuisine price trend by location reveals consumption trends of each region. The graph below represents the change in Thai cuisine menu prices during 2021-H1 2023 across the top five locations. As seen below, Thai cuisine menu items in Korea became more affordable as compared to Pyeongtaek-si and Busan-South Korea.
While consumers become more price conscious, operators too, look for ways to optimize their costs to retain margin and market share. In the Korean market, restaurant 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 cuisine menu, buy the report here.