Kimchi Market By Type (Baechu Kimchi And Kkakdugi), By Packaging (Bottles And Jars, Pouches), By Category (Organic And Conventional), By Distribution Channel (Departmental stores, Supermarkets/ Hypermarkets), & Region For 2024-2031

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Kimchi Market Valuation – 2024-2031

The Kimchi Market has grown at an exponential rate in recent years, due to its widespread use as a Korean cuisine staple. This progress is reflected in its growing popularity outside Korean borders, with global demand booming. Kimchi’s benefits extend beyond its gastronomic appeal; it is known for its probiotic characteristics, which promote intestinal health and enhance the immune system. The market size surpass USD 3902.87 Million valued in 2023 to reach a valuation of around USD 5602.85 Million by 2031.

Furthermore, its diverse flavor profile provides customers with a one-of-a-kind cuisine experience. As the market expands, both producers and customers gain from this varied and healthful fermented food. The rising demand for cost-effective and efficient kimchi is enabling the market grow at a CAGR of 5.10% from 2024 to 2031.

Kimchi MarketDefinition/ Overview

Kimchi is a traditional Korean meal produced by fermenting vegetables, primarily Napa cabbage and Korean radishes, with a variety of seasonings. Kimchi is created by salting vegetables first and then flavoring them with a paste made of garlic, ginger, chili peppers, and other spices. This mixture is then allowed to ferment for a set amount of time, which can range from a few days to several weeks depending on the desired flavor and level of fermentation.

The fermentation process protects the vegetables while also enhancing their flavor, giving in a tangy, peppery, and somewhat sour taste. Kimchi is an essential component of Korean cuisine, serving as a side dish with practically every meal. It is not only delicious but also extremely nutritious since the fermentation process boosts the bioavailability of key nutrients and adds beneficial probiotics.

Beyond its culinary value, kimchi is of cultural importance in Korean society, frequently associated with celebrations and ceremonies. Its flexibility extends beyond serving as a side dish; it may also be integrated into stews, pancakes, and fried rice, adding depth and complexity to the flavor profile. Overall, kimchi represents a rich culinary history that has survived for centuries and continues to fascinate palates worldwide with its unique taste and cultural significance.

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Which Key Factors are Driving the Continued Expansion and Diversification of the Kimchi Market?

Drivers contributing to the growth and sustainability of the Kimchi Market are rising demand for ethnic foods as global culinary diversity becomes more recognized and accessible, there is a greater demand for ethnic cuisines. Kimchi, a staple of Korean cuisine, has grown in popularity around the world. This demand is fueled by adventurous customers looking for new flavors and experiences, as well as the Korean diaspora, who have a strong connection to their culinary roots.

Asian food markets are expanding due to the growing appeal of Asian cuisine around the world, as well as increased globalization and urbanization. Korean restaurants and Asian grocery stores are becoming more common in many regions of the world, increasing the availability of authentic kimchi goods. This development of distribution channels is surging kimchi’s accessibility and visibility, hence increasing market growth.

Health consciousness with a growing emphasis on health and wellness, customers are looking for goods that have nutritional value. Kimchi suits this trend wonderfully because it is high in vitamins, minerals, and probiotics. Its fermentation process improves its nutritional profile, making it a popular choice for health-conscious people looking for functional foods that promote gut health and overall well-being.

Manufacturers are experimenting with packaging and delivery to satisfy the changing needs of consumers. Convenient packaging formats, such as single-serve pouches and resealable containers, make kimchi easier to consume on the go and encourage new customers to try it. Furthermore, innovations in cold chain logistics ensure the freshness and quality of kimchi goods during shipment, allowing them to spread into new markets.

What Challenges Can Hinder the Kimchi Market for Global Expansion?

The Kimchi Market includes, that kimchi has a short shelf life when compared to other preserved foods. The fermentation process continues after packaging, resulting in flavor and texture variations over time. This limits kimchi storage and distribution, particularly for long-distance transit and export markets, posing issues in maintaining freshness and product quality.

Price sensitivity and production costs consumer price sensitivity, especially during economic downturns, influences purchasing decisions and demand for premium kimchi products. The final retail price of kimchi is influenced by its production costs, which include labor, ingredients, and fermentation time. Fluctuations in ingredient costs, currency exchange rates, and energy prices can have an impact on kimchi makers’ production costs and profit margins, creating financial restrictions and pricing pressures in competitive marketplaces.

Seasonal variability of ingredients kimchi is usually made with seasonal ingredients like Napa cabbage and Korean radishes. The availability and quality of these main ingredients varies throughout the year, affecting kimchi manufacturing volume and cost. Seasonal variations may cause supply shortages, price volatility, and the necessity for alternative sourcing tactics, all of which have an impact on the Kimchi Market’s stability.

Logistics obstacles in export markets kimchi exporters have logistical obstacles while expanding into overseas markets, such as transportation, storage, and customs clearance. Cold chain logistics are critical for maintaining the quality and freshness of kimchi during travel, but they add complexity and cost to the supply chain. Furthermore, managing trade barriers, taxes, and import laws in foreign markets necessitates strategic planning and regulatory knowledge to assure market access and compliance.

Category-Wise Acumens

Will Increasing Demand for Baechu Kimchi Accelerate the Growth of the Kimchi Market?

Out of all the different kinds of kimchi out there, Baechu Kimchi (or as some call it, "cabbage kimchi") is a real crowd-pleaser. You can find it almost anywhere! That's because it's made with Napa cabbage, which is easy to get your hands on all year round. What makes it so good? It's the flavor – that perfect mix of fermented tang and spicy seasoning paste. Baechu Kimchi is a true staple in Korean cooking. We eat it as a side dish with rice, stuff it into yummy things like kimchi pancakes and kimchi fried rice, and even throw it into stews and soups. It's a big deal, culturally speaking, and everyone loves it, whether they're here in Korea or halfway around the world. That's why it's such a star in the Kimchi Market.

Hey, did you know that kkakdugi, that cubed radish kimchi, is really taking off? It's like, one of the fastest-growing things in the whole kimchi world right now! Unlike your usual Baechu Kimchi, kkakdugi's got this awesome crunch and a slightly sweet flavor. People who want something a little less intense than cabbage kimchi are loving it. Plus, you can do so much with it! Eat it on its own, toss it in a salad, or serve it up with some grilled meats – it's super versatile. Basically, as everyone gets more adventurous with kimchi, kkakdugi's becoming a seriously popular choice, and it looks like it's only going to get bigger!

Will the Supermarkets Uses Boost the Kimchi Market?

Supermarkets/hypermarkets dominate the retail market. These large-scale retail establishments provide a diverse selection of things under one roof, such as food, home supplies, electronics, apparel, and more. Supermarkets and hypermarkets offer convenience, variety, and low pricing, making them a popular shopping destination for those seeking one-stop shopping solutions. With their wide floor space and strategic locations, supermarkets and hypermarkets attract a huge customer base, including families, working professionals, and individuals wishing to quickly meet their daily shopping needs.

Furthermore, supermarkets and hypermarkets frequently use promotional campaigns, loyalty programs, and in-store experiences to increase customer engagement and sales, strengthening their position in the retail context.

On the other hand, online retail is the fastest-growing section of the retail market. The rise of e-commerce platforms and digital technology has changed the way people purchase by providing ease, accessibility, and personalized experiences. Online retail allows customers to browse and buy things from the comfort of their own homes or while on the road with mobile devices. The ease of doorstep delivery, flexible payment choices, and hassle-free returns have all contributed to the rapid expansion of online retail, particularly in the aftermath of the COVID-19 epidemic, which expedited the shift to online purchasing.

Furthermore, advances in logistics and fulfillment technologies have reduced delivery times and broadened the reach of online retailers, attracting an increasing number of customers who value convenience and time savings. As consumer preferences shift, internet retail is projected to sustain momentum and reshape the retail scene in the coming years.

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Country/Region-wise Acumens

Will Kimchi Market Thrive in the Asia Pacific?

The Asia-Pacific region is emerging as the main player in the kimchi industry, capturing more than 70% of the market share by 2023, owing partly to rising kimchi demand in Korea. Kimchi, with its unique flavor profile indicative of Chinese cuisine, is extremely popular among South Asian customers. The great preference for Korean and Chinese cuisine in this region has accelerated the rise of the Kimchi Market.

Furthermore, the region has a long-standing custom of making kimchi in winter to preserve it till summer, when the vegetables become more easily available. This cultural practice not only keeps kimchi popular but also emphasizes its importance as a beloved culinary tradition.

Kimchi production in South Korea alone was predicted to be worth almost 1.1 trillion South Korean won in 2018, indicating the market’s strong development trajectory. As customer preferences change, there has been a significant shift toward purchasing ready-made kimchi rather than creating it at home.

This tendency is contributing to a continuous rise in kimchi production, as manufacturers attempt to accommodate the growing demand for convenient and high-quality kimchi products. With the Kimchi Market continuing to prosper and evolve, propelled by both cultural traditions and changing consumer preferences, Asia-Pacific remains a key driver of the global Kimchi Market.

Is Interest for Kimchi Growing in North America?

Get ready, North America! We're about to see a huge jump in the Kimchi Market. Experts are predicting some seriously fast growth over the next few years. More and more people are getting into Korean food, and that means more folks are craving kimchi. This growing demand signals a real opportunity for market expansion. Think about it – our culture is becoming more and more diverse, and that unique, tangy flavor of kimchi, which is so similar to other Asian cuisine, is likely to hit the spot with a ton of new customers. Plus, the fact that Korean and Chinese food products are already super popular here lays a pretty strong foundation for kimchi to really take off. Basically, North America is shaping up to be the next big thing for the kimchi industry!

In addition to customer preferences, the availability of kimchi in North American markets is projected to increase its popularity. Kimchi is becoming increasingly available to North American customers as the number of Asian grocery stores, specialized food markets, and restaurants serving real Korean cuisine grows. This accessibility, combined with the cultural appeal and purported health benefits of kimchi, is expected to promote market penetration and consumption in the region.

As North America emerges as an important market for kimchi, producers and retailers are ready to capitalize on rising demand and extend their presence to meet consumers’ changing expectations. Frame a question from the above content on the Kimchi Market in one line.

Competitive Landscape

The Kimchi Market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support.

The organizations are focusing on innovating their product line to serve the vast population in diverse regions. Some of the prominent players operating in the Kimchi Market include

CJ CheilJedang Corp., Daesang, Dongwon F&B, Sinto Gourmet, Cosmos Food, Real Pickles, Lucky Foods, Mama O’S, Sunja’s, Top Gourmet, King’s Asian Gourmet, Choi’s Kimchi, MILKimchi, Qingdao Jingfugong, Qingdao Meilinda, Qingdao Nongyu, Qingdao Dongshengda, The Cultured Food Company, and South Coast kimchi.

Latest Developments

  • In September 2023, CJ CheilJedang announced Inno Play, an internal venture development area aimed at driving the corporation into future-oriented sectors such as food and bio. This dynamic workspace includes an open office zone, a community lounge for startup collaboration and investor involvement, and an inventive ‘kitchen lab’ dedicated to new product research and development. This has enabled the organization to participate in research activities, showing their resource talents.
  • In December 2022, HEX Ferments, known for its expertise in traditional fermentation and culinary innovation, will expand its culinary offerings with the debut of ‘Sarah’s Paleo Pizza. This new initiative exemplified the company’s dedication to using locally sourced, organic ingredients to make distinctive and nutritious cuisine.
  • In November 2019, Nasoya announced vegan kimchi, which is gluten-free, healthier, and more convenient.
  • In October 2019, Bottlebrush Ferment developed a new type of kimchi that is detoxifying, immune health enhancing, and incorporates cucumber, pak choi, and coriander.

Report Scope

REPORT ATTRIBUTESDETAILS
STUDY PERIOD

2018-2031

Growth Rate

CAGR of ~5.10% from 2024 to 2031

Base Year for Valuation

2023

HISTORICAL PERIOD

2018-2022

Forecast Period

2024-2031

Quantitative Units

Value in USD Million

Report Coverage

Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis

Segments Covered
  • Type
  • Packaging
  • Category
  • Distribution Channel
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Players

CJ CheilJedang Corp., Daesang, Dongwon F&B, Sinto Gourmet, Cosmos Food, Real Pickles, Lucky Foods, Mama O’S, Sunja’s.

Kimchi Market, By Category

Type

  • Baechu Kimchi
  • Kkakdugi
  • Nabak
  • Yeolmu Kimchi
  • Baek

Packaging

  • Bottles and Jars
  • Pouches
  • Cans
  • Boxes
  • Tubs and Trays

Category

  • Organic
  • Conventional

Distribution Channel

  • Departmental stores
  • Supermarkets/ Hypermarkets
  • Online Retail

Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

Research Methodology of Market Research

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