Kimchi Market to Grow by USD 1.14 Billion from 2024-2028, Driven by Product Launches and AI's Impact on Trends- Reports Technavio

NEW YORK, Aug. 28, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape- 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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Market Driver

Kimchi, a traditional Korean fermented dish, is now widely accessible 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 accessible to a broader consumer base. This expansion allows kimchi to reach new geographic areas and demographics. Retail channels offer a diverse range of kimchi varieties, including cabbage, radish, and cucumber, catering to different consumer preferences and encouraging experimentation. This growth in retail presence and product offerings will significantly contribute to the expansion of the global kimchi market. 

The Kimchi market is thriving, with high product satisfaction levels among customers. This sector's competitive nature and fragmentation dominance create ample opportunities for both established players and new entrants. Brainy Insights' latest report reveals that the customer base is expanding, driven by the sector's representation in various cuisines, including Korean, Japanese sushi, and pickles. Key trends include the use of Gochugaru (Korean chilli powder), spring onions, ginger, and Jeotgal (fermented seafood) in Kimchi and its derivatives like soups, stews, porridge, rice cakes, kimchi soup, kimchi fried rice, and kimchi stew. The market's development impetus comes from untapped opportunities in Qingdao and Shandong province, where the production of Kimchi and other fermented foods is prevalent. Data analytics and syndicate reports indicate a trade surplus, driven by the market's customized solutions and the health benefits of Kimchi, such as vitamins, minerals, antioxidants, digestive health, and cardiovascular diseases. The market's success levels are further boosted by its amalgamation traits, including the use of spices and dietary fiber, making it a promising sector for investment. 

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Market Challenges

• Kimchi, a popular fermented Korean dish, relies on the procurement of raw materials such as cabbage, radish, onion, chili, garlic, and ginger from external suppliers. The quality of these ingredients significantly impacts the final product's quality. Regulatory bodies and compliance authorities monitor the production process to ensure consumer safety. Product recalls due to contamination or undeclared allergens can negatively impact a vendor's reputation. For instance, in 2022, the FDA announced a cabbage kimchi recall due to potential listeria contamination. These recalls can hinder the growth potential of the global kimchi market as consumers may be deterred from purchasing the product. Proper sourcing and handling of raw materials are crucial to mitigate the risk of recalls and maintain consumer trust.
• The Kimchi Market faces several challenges in the global food industry. Syndicate reports show growing demand for customized solutions in the food sector. Key ingredients like Gochugaru (Korean chilli powder), spring onions, ginger, Jeotgal (fermented seafood), and spices are essential for Kimchi production. However, sourcing high-quality ingredients can be challenging. Kimchi is used in various dishes such as soups, stews, porridge, rice cakes, and kimchi soup, fried rice, stew, pancake, and pickles. Japanese sushi also uses pickles, creating competition in the market. Kimchi's health benefits, including vitamins, minerals, antioxidant content, and probiotics, make it a popular choice for promoting digestive health and preventing cardiovascular diseases. The market's growth is driven by its trade surplus in countries like Qingdao and Shandong province in China. Fermented seafood and dietary fiber are other essential components of Kimchi. Baechu kimchi, made from cabbage, is the most popular type. Garlic and other spices add flavor, while Mexicans have adopted Kimchi, using it in their cuisine. Cosmos Food is a leading supplier of Kimchi and other Korean foods.

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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-  The Kimchi Market is a thriving business specializing in the production and distribution of authentic Korean fermented food, particularly Kimchi. Our team sources high-quality ingredients and follows traditional methods to create delicious and nutritious Kimchi. We cater to various customers, from individuals to restaurants, ensuring consistent supply and excellent service. Our commitment to authenticity and quality sets US apart in the market.

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Research Analysis

Kimchi, a traditional Korean side dish made from fermented cabbage and various vegetables, spices, and sometimes fermented seafood like anchovies and shrimp, has gained international popularity for its unique taste and health benefits. The market for kimchi and its derived dishes, such as kimchi soup, stew, porridge, pancake, and fried rice, is experiencing significant growth due to its increasing customer base and competitive nature. Product satisfaction evaluation reveals high success levels, with customers praising the bold flavors and probiotic properties of kimchi. The market is fragmented, with various players offering different types of kimchi, including Baechu kimchi, made from napa cabbage, and those infused with ginger or garlic. Other popular side dishes, like Jeotgal (fermented seafood), rice cakes, and spices, often accompany kimchi in Korean cuisine. The global kimchi market is expected to grow further, driven by its popularity among health-conscious consumers and the increasing adoption of Korean cuisine by various cultures, such as Mexicans. Cosmos Food, a leading player in the market, offers a wide range of kimchi products, including soups, stews, and porridges, catering to diverse consumer preferences.

Market Research Overview

The Kimchi market is a vibrant and competitive sector, renowned for its unique and flavorful fermented dishes. With a customer base that spans beyond Korea, the market's success levels are driven by product satisfaction and innovation. The sector's evaluation reveals a fragmented landscape with amalgamation traits, represented by key players like Brainy Insights, Syndicate reports, and others. Key ingredients, such as Gochugaru (Korean chilli powder), spring onions, ginger, Jeotgal (fermented seafood), and various vegetables, are integral to Kimchi's development impetus. Untapped opportunities exist in sectors like soups, stews, porridge, rice cakes, and kimchi pancakes. The market's sectorial representation includes various segments, such as pickles, vitamins, minerals, antioxidant content, and digestive health. Kimchi's benefits extend to cardiovascular diseases, making it a global phenomenon. Notable markets include Qingdao and Shandong province in China, as well as Japan, with its affinity for sushi and pickles. The market's competitive nature is further fueled by the use of spices, fermented seafood, and dietary fiber. Probiotics and Baechu kimchi are emerging trends. Mexicans and Cosmos Food are among the clientele exploring Kimchi's potential, expanding its reach and influence. Data analytics and customized solutions ensure continued growth and innovation.

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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