Kimchi Market size is set to grow by USD 1.13 billion from 2024-2028, Product launches to boost the market growth, Technavio

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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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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Segment Overview 

This kimchi market report extensively covers market segmentation by

1. Distribution Channel
• 1.1 Offline
• 1.2 Online
2. Product 
• 2.1 Conventional kimchi
• 2.2 Organic kimchi
3. 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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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
• Offline
• Online
• 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 consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base 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: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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