Global Kimchi Market Size, Share, Opportunities, And Trends By Type (Baechu Kimchi, Kkakdugi Kimchi, Nabak Kimchi, Yelomu Kimchi, Baek Kimchi), By Application (Departmental Store, Supermarkets/Hypermarkets, Online Retail, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Mar 2023
- Report Code : KSI061614503
- Pages : 145
In Korea, Kimchi is a commonly eaten side dish made from fermented and salted vegetables including napa cabbage and Korean radish, Gochugaru or Korean chilli powder, garlic, spring onions, ginger, and jeotgal translated as salted fish, etc. Various soups and stews contain kimchi as a key ingredient to enhance the taste of the dish. It is served as a side dish with practically all Korean meals since it is a staple item in Korean cooking. This favourite side dish has a wide range of flavours that are achieved depending on how it is made, stored, and prepared, making it both ambiguous and quite distinct.
Kimchi is available in almost 200 different varieties. In the majority of Korean family homes and restaurants, Kimchi is usually served as a typical side dish. Kimchi can be consumed on its own, with white or brown rice, or in recipes for other traditional Korean foods like porridge, soup, and rice cakes. Moreover, kimchi serves as the foundation for a variety of foods, including kimchi soup, kimchi fried rice, kimchi stew, and kimchi pancake.
The high popularity of kimchi in Korea, as well as in other countries around the world and its incorporation in various global cuisine, will spur growth for the global market during the projection period.
Kimchi is one of Korea's most essential dishes and is consumed in high quantities. According to IMF data, 95 per cent of Koreans consume kimchi every day, amounting to 2 million tonnes yearly, and it is a staple at every meal. According to the Ministry of Agriculture, Food, and Rural Affairs, the total amount of kimchi provided in the nation in 2019 was 1.9 million tonnes, including 306,000 tonnes that were imported. Outside of Korea, kimchi has recently become more and more popular, and you can't go very far in a big city without seeing the dish marketed, either on its own or added to rice, soup, or pancakes for a special touch and a chef's trademark. According to data from the Ministry of Agriculture, Food, and Rural Affairs, outbound exports of kimchi reached a record US$159.9 million in 2021, leading to a trade surplus of US$19.2 million in the industry. In the last five years, kimchi exports have grown 18 per cent annually on average, and 89 nations will import kimchi in 2021, up from 61 in 2011. According to experts, the Korean Wave created by K-pop and TV dramas has converted overseas admirers into enthusiastic buyers of South Korean goods such as this traditional side dish.
Since kimchi has become more widely consumed across the world, it has been integrated into many regional cuisines. It can be transformed into Japanese kimchi in order to go with Japanese sushi. Kimchi is traditionally eaten with Chinese dumplings in China. On a hamburger in America, kimchi takes the role of pickles. While kimchi is still regarded as a Korean delicacy, it can go well with any dish, demonstrating a significant capacity for adapting to new cultures.
Health benefits associated with the consumption of kimchi will also support the growth of the global market
Kimchi can provide significant health advantages because of its vitamins, minerals, and antioxidant content. Choline, a naturally occurring substance found in kimchi, is essential for sustaining your cells, muscles, neurological system, and even your mood. Choline is essential for keeping your memory sharp. Vitamin K, which aids in blood clotting and prevents brittle bones, is also abundant in kimchi. Kimchi is also beneficial for improving digestive health, lowering the risk of cardiovascular diseases, reducing the risk of cancer and supporting immunity. Therefore the demand for kimchi has been increasing due to its health benefits which are driving the market growth.
Asia Pacific is anticipated to hold a significant amount of the global kimchi market share during the forecast period
The Asia Pacific region is anticipated to hold a significant amount of market share in morel mushrooms. Kimchi is a staple side dish in Korea. High consumption of this traditional side dish in South Korea is driving the growth of the market in this region. For instance, according to IMF data, 95 per cent of Koreans consume kimchi every day, amounting to 2 million tonnes yearly, and it is a staple at every meal. According to the Ministry of Agriculture, Food, and Rural Affairs, the total amount of kimchi provided in the nation in 2019 was 1.9 million tonnes, including 306,000 tonnes that were imported. Rising exports of kimchi from countries like China are also spurring demand. For instance, Due to rising local vegetable prices and inflation, Qingdao, a coastal city in East China's Shandong province, expects to ship more processed kimchi. This trend has spurred the economic growth of more Qingdao firms. According to the Qingdao department of agriculture and rural affairs, 270,000 metric tonnes of kimchi will be exported from Qingdao to South Korea this year, covering more than half of the nation's yearly needs. Prime markets in the Asia Pacific region include China, Japan, South Korea, India, Thailand, Indonesia and Taiwan.
Market Key Developments
- In February 2020, in order to commemorate the significance of kimchi as an important element of Korean culture, the states of California, Virginia, Maryland, and New York as well as the nation's capital, Washington D.C., have issued proclamations designating November 22 as "Kimchi Day" throughout the United States.
- In July 2021, On a railway platform in Japan, a kimchi vending machine has been placed. On the platform for trains headed in the direction of Yokohama at Keikyu Corp.'s Kawasaki Station in the city of Kawasaki, the nationally unusual vending machine has been set up adjacent to the staffed store "Otsukemono-kei" run by Green Foods Atsumi Ltd. All day long, customers can purchase kimchi.
- In October 2020, A new variety of kimchi that reinterprets the hot Korean side dish was introduced by Pulmuone, a fresh food firm with global operations for Korean-made unique kimchi.
- By Type
- Baechu kimchi
- Kkakdugi Kimchi
- Nabak Kimchi
- Yelomu Kimchi
- Baek Kimchi
- By Application
- Departmental store
- Online Retail
- By Geography
- North America
- South America
- Middle East and Africa
- Asia Pacific
- South Korea
- North America
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. GLOBAL KIMCHI MARKET, BY TYPE
5.2. Baechu Kimchi
5.5. Yelomu Kimchi
6. GLOBAL KIMCHI MARKET, BY APPLICATION
6.2. Departmental stores
6.3. Supermarkets/ Hypermarkets
6.4. Online Retail
7. GLOBAL KIMCHI MARKET, BY GEOGRAPHY
7.2. North America
7.2.1. United States
7.3. South America
7.4.1. United Kingdom
7.5. The Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. COMPANY PROFILES
9.1. Cosmos Food Co. Inc.
9.2. CJ CheilJedang Corp.
9.3. Dongwon F&B
9.4. Elaia Holdings
9.6. The Kimchi Company
9.7. Choi’s Kimchi Co
9.8. Jonnga Global
9.9. True Kimchi LLC
9.10. Madge’s Food Company
Cosmos Food Co. Inc.,
CJ CheilJedang Corp.,
Elaia Holdings Daesang Corp,
The Kimchi Company
Choi’s Kimchi. Co
True Kimchi LLC
Madge’s Food Company
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