Independent self-service cafeterias showed steady movement for the last couple of years of the review period. There are no special issues that could raise or reduce the market growth. The market is keeping the level of Won60 billion as most companies have stable and regular customers. These independent self-service cafeterias do not tend to improve in outlet size or expand number of outlets. They normally aim at specifically targeted customers. For instance, Noryangjin area is where students and educational institutes which prepare people for government official exams are gathered. These students need to eat quickly to save time for study and have less money to spend. Independent self-service cafeterias with low unit prices are thus popular in this area and mainly target these students.
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IKEA Korea led self-service cafeterias in 2014. IKEA opened its first outlet in South Korea in December 2014. IKEA has become a popular place where families can visit and spend a day, experiencing products and having a meal in the self-service cafeteria. The current menu in IKEA is limited to a few items, but is expected to expand and amend after consumer feedback.
Independent self-service cafeterias will continue to show dull movement in the forecast period, accounting for a constant CAGR of less than zero at constant 2014 prices and the same prognosis applies to outlets as well. Market size is also expected to keep above the level of Won60 billion.
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