NEW
YORK, July 18, 2024 /PRNewswire/ -- The global
kimchi market size is estimated to grow by USD 1.13 billion from 2024-2028, according
to Technavio. The market is estimated to grow at a CAGR of
about 4.96% during the forecast
period. Product launches is driving market
growth, with a trend towards expansion of retail
channels. However, product recalls poses a challenge.
Key market players include Bombucha, Chois Kimchi LLC, CJ
CheilJedang Corp., Cosmos Food Co. Inc., Daesang Corp., Dongwon
Group, Eden Foods Inc., Gold Mine Natural Food Co., Kehoes Kitchen
Pty Ltd., Kimchi Club Pty Ltd., Kings Asian Gourmet, Lucky Foods,
MILKimchi Inc., Pulmuone Foods USA, Real Pickles, Sinto Gourmet LLC, Sunjas
Oriental Foods Inc., T BROTHERS FOOD and TRADING LTD., Tazaki Foods
Ltd., and VOLCANO KIMCHI.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Distribution Channel
(Offline and Online), Product (Conventional kimchi and Organic
kimchi), and Geography (APAC, North America, Europe, Middle East
and Africa, and South America)
|
Region
Covered
|
APAC, North America,
Europe, Middle East and Africa, and South America
|
Key companies
profiled
|
Bombucha, Chois Kimchi
LLC, CJ CheilJedang Corp., Cosmos Food Co. Inc., Daesang Corp.,
Dongwon Group, Eden Foods Inc., Gold Mine Natural Food Co., Kehoes
Kitchen Pty Ltd., Kimchi Club Pty Ltd., Kings Asian Gourmet, Lucky
Foods, MILKimchi Inc., Pulmuone Foods USA, Real Pickles, Sinto
Gourmet LLC, Sunjas Oriental Foods Inc., T BROTHERS FOOD and
TRADING LTD., Tazaki Foods Ltd., and VOLCANO KIMCHI
|
Key Market Trends Fueling Growth
Kimchi, the traditional Korean fermented dish, is now widely
accessible to consumers through various retail channels. These
channels include both online and offline options, such as
supermarkets, hypermarkets, grocery stores, and specialty food
stores. Retailers are expanding their presence by opening new
outlets, making kimchi more readily available in urban, suburban,
and rural areas. This expansion increases convenience for consumers
and broadens the market, reaching new demographics. Retailers offer
a range of kimchi varieties, including cabbage, radish, and
cucumber, catering to diverse consumer preferences and encouraging
experimentation. This diversity drives sales growth and influences
the global kimchi market's expansion.
The Kimchi market is thriving, with high product satisfaction
levels among customers. This sector's competitive nature and
fragmentation dominance present both challenges and opportunities
for businesses. Brainy Insights' latest report reveals that the
market's success lies in its representation of various sectors,
including Gochugaru (Korean chilli powder), spring onions, ginger,
Jeotgal (fermented seafood), and various Kimchi dishes like soups,
stews, porridge, rice cakes, and pancakes. The market's
amalgamation traits include a trade surplus, with exports to
Japan for sushi and pickles
contributing significantly. The market's untapped opportunities lie
in its nutritional benefits, such as vitamins, minerals,
antioxidants, and probiotics, which promote digestive health and
combat cardiovascular diseases. Qingdao and Shandong province in China are significant players, contributing to
the global Kimchi market's development impetus. Customized
solutions and data analytics from syndicate reports help businesses
stay ahead, catering to diverse clientele preferences. Spices and
fermented seafood are essential ingredients, while dietary fiber
adds to the market's health benefits.
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Market Challenges
- The global kimchi market relies on third-party suppliers for
procuring raw materials such as cabbage, radish, onion, chili,
garlic, and ginger. Proper handling of these ingredients is crucial
to maintain the quality of kimchi. Failure to adhere to food safety
regulations can result in product recalls or business closures.
Allergens and unapproved ingredients are common reasons for
recalls. For instance, in 2022, the FDA announced a cabbage kimchi
recall due to potential listeria contamination. Product recalls can
negatively impact a brand's reputation and hinder market growth.
Therefore, ensuring the highest standards of food safety and
quality is essential for kimchi producers to mitigate the risks of
recalls and maintain consumer trust.
- The Kimchi Market faces challenges in meeting the growing
demand for this traditional Korean dish. Syndicate reports indicate
a surge in global interest, particularly in markets like
Japan and Mexico. Customers seek customized solutions,
including various types of kimchi such as Baechu, made from
cabbage, and those with added ingredients like spring onions,
ginger, and Garlic. Key ingredients like Gochugaru, Korean chilli
powder, and Jeotgal, fermented seafood, are essential. Spices and
pickles are also popular. Kimchi offers numerous health benefits,
including high vitamin and mineral content, antioxidants for
digestive health, and potential prevention of cardiovascular
diseases. Major producers are in Qingdao, Shandong province, where they utilize
fermentation techniques and dietary fiber-rich ingredients like
rice cakes and porridge. Kimchi is used in various dishes,
including soups, stews, porridge, rice cakes, kimchi soup, kimchi
fried rice, kimchi stew, and kimchi pancake. The market's trade
surplus continues to grow, with potential competition from Japanese
sushi and other pickles. Probiotics are a significant selling
point, making kimchi a healthy and tasty addition to diverse menus
worldwide.
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challenges - Download a Sample Report
Segment Overview
This kimchi market report extensively covers market segmentation
by
- Distribution Channel
- Product
- 2.1 Conventional kimchi
- 2.2 Organic kimchi
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Offline- Kimchi Market is a thriving business
specializing in the production and distribution of authentic Korean
fermented dishes, particularly kimchi. Our team carefully sources
high-quality ingredients and follows traditional methods to create
delicious and nutritious kimchi. We offer various types, including
classic, radish, and cucumber, ensuring a wide range for our
customers. Our commitment to quality and authenticity has earned US
a loyal customer base and consistent demand. We prioritize customer
satisfaction and ensure timely delivery. Join US in exploring the
rich flavors of Korean cuisine.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Learn and explore more about Technavio's in-depth research
reports
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players include McCormick & Company, Inc., and Now Foods.
Market drivers include rising consumer awareness of garlic's health
benefits, such as its antibacterial and antiviral properties, and
its popularity in various cuisines. Asia-Pacific dominates the market, with
China being the largest producer
and exporter. Challenges include fluctuating prices and supply
chain disruptions. Overall, the garlic market is expected to
expand, driven by health trends and culinary diversification.
Research Analysis
The Kimchi market is a vibrant and competitive landscape,
renowned for its diverse range of fermented Korean dishes. Key
offerings include Kimchi soup, Kimchi fried rice, Kimchi stew, and
Kimchi pancake, all derived from the traditional Korean side dish,
Kimchi. Customer satisfaction is paramount in this market, with
evaluation through quadrants and success levels shaping the
competitive nature. Ginger, Jeotgal, and various spices add to the
rich flavors of Kimchi, while fermented seafood and dietary fiber
contribute to its health benefits. The Global Kimchi market is
witnessing growth due to its probiotic properties and expanding
customer base. Baechu kimchi, made from Chinese cabbage, and Garlic
Kimchi are popular variants. Mexican and other international
markets are also embracing Kimchi, with Cosmos Food being a notable
player in the global scene. Soups, Stews, Porridge, Rice cakes, and
Spices further enhance the market's offerings.
Market Research Overview
The Kimchi market is a vibrant and competitive sector, renowned
for its distinctive and flavorful fermented dishes. With a strong
customer base and increasing global popularity, the market is
characterized by its fragmentation and dominance, with various
players offering customized solutions to cater to diverse
clientele. Key products include Kimchi, Gochugaru (Korean chilli
powder), spring onions, ginger, Jeotgal (fermented seafood), and a
range of Kimchi-based dishes such as soups, stews, porridge, rice
cakes, and pancakes. The market's success levels are influenced by
development impetus, untapped opportunities, and sectorial
representation. Brainy Insights, Data analytics, and Syndicate
reports provide valuable insights into the market's trends,
competitive nature, and growth drivers. Kimchi's nutritional
benefits, including high vitamins, minerals, antioxidant content,
and probiotics, contribute to its popularity for promoting
digestive health and combating cardiovascular diseases. The
market's amalgamation traits are reflected in its representation in
Qingdao, Shandong province, and other regions known for
their spice production and fermented food industries. Untapped
opportunities exist in the global market, particularly in the
Japanese sushi industry and among Mexican consumers. The market's
trade surplus is driven by Kimchi's versatility, as it is used in
various dishes and cuisines beyond traditional Korean fare. Dietary
fiber and fermented seafood are other significant components of the
market, adding to its nutritional value and appeal. Cosmos Food and
other key players continue to innovate and expand their offerings,
ensuring the market's continued growth and success.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Distribution Channel
-
- Product
-
- Conventional Kimchi
- Organic Kimchi
- Geography
-
- APAC
- North America
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
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consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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