• Title/Summary/Keyword: future consumption market

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A Study on the Multidimensional Consumption Value of Vietnamese MZ Generation -Focusing on the Relationship between Consumption Value Factors, Demographic Characteristics, and Global Consumption Propensity- (베트남 MZ세대의 다차원적 소비가치에 대한 연구 -소비가치 요인과 인구통계학적 특성 및 글로벌 소비성향의 관련성을 중심으로-)

  • Choo, Ho Jung;Jang, Ju Yeun;Baek, Eunsoo;Lee, Ha Kyung;Kim, Habin
    • Journal of the Korean Society of Clothing and Textiles
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    • v.46 no.5
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    • pp.848-867
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    • 2022
  • As an emerging market with rapid economic growth, while being a key region of the K-culture expansion, Vietnam draws increasing scientific attention. This study focuses on the MZ generation, Vietnam's leading consumer group, revealing their consumption value structure. An online survey was used for data collection purposes, investigating 368 Vietnamese consumers between 18-37 years of age. Six value dimensions were derived as results of the present analysis: functional, emotional, social, ethical, self-expression, and autonomy-oriented value. Among them, functional value includes two sub-dimensions of utility and price, while emotional value entails three sub-dimensions, namely hedonism, novelty, and aesthetics. 'Self-expression value' and 'autonomy-oriented value', reflecting the characteristics of the MZ generation, who actively express themselves and respect proactive decision-making, are becoming important standards of the consumption attitude of young Vietnamese. Moreover, the pursuit of 'novelty' was derived as a factor reflecting emotional values, revealing an association between hedonic consumption, and seeking for newness and difference. Furthermore, the relationships between each consumption value dimension, respective demographic characteristics, and global consumption propensity were investigated. The present findings aim to provide insights into young Vietnamese consumers' attitudes and intend to serve as a foundation for future research.

A Study on the Propensity to Consume Oriental Herbal Cosmetics (한방 화장품 소비성향에 관한 연구)

  • Choi, Yoon-Jung;Kim, Ju-Duck
    • Journal of the Society of Cosmetic Scientists of Korea
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    • v.32 no.4 s.59
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    • pp.283-298
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    • 2006
  • The domestic market of oriental herbal cosmetics has rapidly grown in the last few years. In this study, we investigated female consumers' cosmetics-buying behavior to know their appreciation of oriental herbal cosmetics. We also tried to deduce the strategies for growth and development of the oriental herbal cosmetics market in the future. A survey was conducted with women ranging in age from 20 to 50, who resided in Seoul; a total of 400 questionnaires were distributed and then 344 copies of those. were collected and analyzed statistically. This study provides basic information about the present status of oriental herbal cosmetics market and the real state of the cosmetic consumption. The consumers needs identified in this study, provides basic data in setting a marketing strategy for the oriental herbal cosmetics market.

Growth of food industry from change of consumer's living environment: HMR market growth factor (소비자들의 생활환경 변화에 따른 식품 시장의 성장: 가정간편식(HMR) 시장 성장 요인 분석)

  • Lee, Doo-Young
    • Food Science and Industry
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    • v.50 no.3
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    • pp.33-38
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    • 2017
  • One noticeable thing about the recently opened 'Starfield Hanam' and 'Hyundai Department Store (Pangyo)' is consumer's interest and positive response to their hosted food brands ranging from restaurants, dessert cafes and coffee shops. Department store and shopping complex, so-called aggregation of lifestyle are making the most out of food brands as a differentiation strategy and consumer's interest on it act as a barometer for current consumption trend. Along with the high interest on food market, changes in lifestyle, such as increasing ratio of two or less households, advent of multiple communication channels as SNS, deluge of information and gradually developing individualism, are creating needs for convenient but high quality eating culture. This need contributed in transforming the product family which was once famous as 'Instant Food' into a 'Home Meal Replacement (HMR)'. Since local food companies are striving to keep pace with the trend and actively penetrating HMR market, regardless of long-term recession, the Korean domestic food market is steadily growing with a bright future.

Trends and Sustainable Development of the Hair Care Market

  • Eun-Jung SHIN
    • The Journal of Industrial Distribution & Business
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    • v.14 no.9
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    • pp.1-11
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    • 2023
  • Purpose: The cosmetics industry is dynamic and constantly evolving. The hair and beauty field is characterized by being very sensitive to social trends. Therefore, it is necessary to understand the intellectual structure of the social function of hair beauty and to analyze the research and industrial trends related to the beauty field. This study is a literature review and presents specific and practical development plans and growth strategies for the hair care market. Research design, data, and methodology: This review study was conducted by searching PubMed, Google Scholar, Riss, Scopus, and Research Gate. We prepared this by referring to keywords such as the beauty care industry, sustainable development, hair care, hair cosmetics, and hair care market. A total of 468 papers were searched, of which 60 were finally included in this study on the PRISMA flowchart. Results: For good consumption and continuous development of hair cosmetics, it will be necessary to clearly understand the beauty and cosmetic needs of various generations. Conclusions: As income level improvement and quality of life become more important, Korea's beauty industry is attracting a lot of attention as a growth industry that transcends gender and age amid social and cultural development, and its importance is expected to grow in the future.

A Consumer Behavioral Study of Dietary Supplement Choice Attributes in the Post-COVID-19 Era: Focusing on Generation MZ

  • Bo-Kyung SEO;Gyu-Ri KIM;Seong-Soo Cha
    • The Korean Journal of Food & Health Convergence
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    • v.10 no.3
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    • pp.1-8
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    • 2024
  • The global nutraceuticals market continues to grow due to rising income levels, increasing life expectancy, and a growing interest in personal health. Especially after the COVID-19 pandemic, the market for nutraceuticals has expanded rapidly with positive perceptions driven by increased attention to immune management for disease prevention. However, there is still a lack of research on the relationship between nutraceuticals and consumer behavior. This study aims to provide new insights into the dietary supplement market and help establish marketing strategies by analyzing consumer behavior toward dietary supplements in the post-COVID-19 era, focusing on Generation MZ. An online survey was conducted among consumers who have purchased dietary supplement products to test the hypotheses. The collected data were analyzed for validity and reliability using SPSS and AMOS programs. The results showed that the taste, price, brand, and design of dietary supplements significantly positively affect the satisfaction of MZ consumers. This study provides an in-depth understanding of the mechanisms of consumer behavior toward dietary supplements in the post-COVID-19 era, focusing on Generation MZ. By offering insights into consumers' health concerns and consumption behaviors, this study provides valuable perspectives on the future development of the market and helps companies develop effective strategies to meet consumer needs.

An Overview of Meat Industry in Sri Lanka: A Comprehensive Review

  • Alahakoon, Amali U.;Jo, Cheorun;Jayasena, Dinesh D.
    • Food Science of Animal Resources
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    • v.36 no.2
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    • pp.137-144
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    • 2016
  • Livestock is considered as one of the most important segments in agriculture since animal husbandry was practiced for centuries as a backyard system by rural families. Livestock plays as a powerful tool in rural development where meat industry contributes a dominant part. Meat and meat products become a vital component in the diet, which had been one of the main protein sources traditionally as well. The development in the livestock and meat industry of Sri Lanka basically depends upon religious, cultural, and economic factors. There is a growing demand for processed meat products in Sri Lankan urban culture and several large scale processors entered the business during the past few decades. The consumption of meat and meat products shows an upward trend in Sri Lanka during the last decade and is anticipated to increase further in future. The growth potential of the local meat industry is considerably high owing to the improvement of the market and consumer perception. The present status, trends, and future prospects for the Sri Lankan meat industry with respect to production, consumption, processing, marketing, and improvement are discussed in this review.

Current Trends and Prospects of High Value-added Seafood Processing Technology Development (고부가가치 수산식품 가공기술 개발 트랜드 및 전망)

  • Young Chul Lee;Hyung Gyun Kim;Jae Cheon Jeong;Chang Soo Kang
    • Journal of Practical Agriculture & Fisheries Research
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    • v.25 no.4
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    • pp.148-157
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    • 2024
  • The market size of Korea's seafood industry is estimated to be about 62 trillion won ('19), of which the seafood processing industry is about 10 trillion won ('19), accounting for approximately 16% of the total market size. However, the current level of processing technology required for the development of seafood products is mainly simple primary processing, such as freezing and drying raw materials (in Jeollanam-do, which ranks first in the country in terms of seafood production, primary processors account for 86% of all seafood processors).In the future, trends in the development of processing technology for seafood will become more advanced in response to changes in domestic and international food consumption patterns. Blue food tech linked to ESG, convergence and digitalization linked to the 4th industry revolution will be further advanced in line with the national seafood industry policy direction. Through this, it is expected to establish itself as an axis of future technology management in the fisheries sector based on the large and small success stories of accumulated seafood R&D commercialization.

Industrial Trends of 3D Printing Technology

  • Park, Sehwan;Park, Jongkyu
    • International Journal of Advanced Culture Technology
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    • v.1 no.1
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    • pp.19-22
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    • 2013
  • The basic principle of the product manufacturing technology using the 3D printing technique materializes the material including the high molecular substance or plastic and metallic dust, and etc. the product into the laminate additive manufacturing according to the design diagram gradually. It is applied to the various industrial field including the field of food division, field of home appliances, field of medicine, field of mechanical department and construction, etc.. The global development case of 3D printing technique is the next. This study described global technology and market trends. Afterward, 3D printing technique manages the important role when it exceeds the product manufacturing view just and is grafted with the various technology including the biotechnology, nanotechnology, and etc. and it improves the quality of the human life.

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Current status of the Jangryu industry and future development direction (장류산업의 현황과 향후 발전 방안)

  • Na, Hye-Jin;Cho, Sung-Ho;Jeong, Do-Yeon
    • Food Science and Industry
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    • v.53 no.2
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    • pp.183-199
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    • 2020
  • Traditional food is the basis of Korean food, but in the process of industrialization, Japanese soybean fermented product making method became standardization process of Korean soybean fermented product as a factory type. As a result, traditional fermented food was pushed behind the industrialization. At present, there is anxiety in the development of the fermented soybean product industry due to the gap in management level between the manufacturers, the decrease in consumption of Jangryu due to changes in dietary life, and the negative image as high salt food. In order to overcome these problems and lead continuous growth, governmental industrial development policies such as traditional liquor and Kimchi are inevitably needed. By laying the legal and institutional foundation and making good use of it in industry, it will be the foundation for continuous development in the market where fierce competition is accelerated.

Health functional food, domestic functional material (Centered on Rural Development Administration research) (건강기능식품 국산 기능성원료 (농촌진흥청 연구 중심으로))

  • Hwang, Kyung-A
    • Food Science and Industry
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    • v.53 no.4
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    • pp.366-373
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    • 2020
  • Due to environmental changes such as diet and fine dust, the public has a growing interest in health. With the growing interest in health, consumption of health functional foods to prevent diseases has increased, and the health functional food market is also growing. However, most health functional foods rely on imported raw materials, and the development of health functional foods using domestic raw materials is urgently needed. Therefore, in this paper, provides information on functional raw materials for health functional foods that have been recognized by using domestic agricultural products in Rural Development Administration, and insists that R&D should be more active in order to increase more domestic raw materials in the health functional food market in the future.