Enjoy Technology founded by former Apple exec Ron Johnson files for bankruptcy just months after IPO
S. Korea’s ice cream market grows 5.1% last year as people stay indoors
The South Korean market for ice cream grew 5.1 percent last year from 1.8 trillion won the previous year, according to the Korea Agro-Fisheries & Food Trade Corp. and Euromonitor International.
The industry has grown in the last two years thanks to the spread of indoor activities in the pandemic era.
The market's expansion since 2020 can be linked to rising snack demand as more people stayed indoors during the pandemic.
However, the rate of increase is unlikely to continue at this pace, as the South Korean population is dwindling, putting a strain on the food industry as a whole.
Until 2020, individual cone ice cream goods were more popular than cup ice cream, then cup ice cream products gained popularity as the demand for premium ice cream increased.