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The kimchi market size is estimated to grow at a CAGR of 5.49% between 2022 and 2027. The market size is forecast to increase by USD 1,215.96 million. The growth of the market depends on several factors, including product launches, health benefits offered by kimchi, and initiatives for the development of the kimchi industry. Vendors are focusing on introducing new kimchi variations to expand their product lines. In this way, they seek to increase their market share and gain a competitive advantage in the market. Some vendors are trying to develop new kimchi variations with additional ingredients to provide consumers with health benefits. For example, in February 2021 Pulmuone launched a 100% plant-based kimchi under the Nasoya brand that is cholesterol-free, vegan, and free of artificial flavors and preservatives. This product has a mild and tangy taste and can be used in recipes such as hot dogs, pizza, salads, sandwiches, and salads. Therefore, the increased availability of new kimchi variations will drive customer purchases, driving the growth momentum of the global kimchi market during the forecast period.
This kimchi market report extensively covers market segmentation by distribution channel (offline and online), product (conventional kimchi and organic kimchi), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing demand for plant-based diets is identified as the key trend in the market. Plant-based diets are growing in popularity around the world as consumers' appetite for healthy eating increases. Factors driving consumers to switch to plant-based diets include the health risks associated with meat consumption and the growing importance of animal welfare. In addition, product recalls of packaged meat products are frequent due to the presence of bacteria and undeclared ingredients.
In contrast, plant-based foods contain important nutrients such as fiber, antioxidants, magnesium, folic acid, potassium, beneficial plant compounds, and vitamins. In addition, countries such as the United States, the United Arab Emirates, and the United Kingdom have growing obese populations, leading to a shift to plant-based diets to avoid health problems. Thus, increasing obesity and the shift toward plant-based nutrition will positively influence the growth of the market.
Product recalls may impede the growth of the market during the forecast period. Kimchi manufacturers around the world source ingredients such as cabbage, radishes, onions, chili peppers, garlic, and ginger from third-party suppliers. Improper handling of these raw materials can adversely affect the quality of kimchi. Food regulators and compliance agencies can shut down stores or withdraw kimchi products from the market if they pose a risk to consumer welfare.
Product recalls can damage a vendor's brand reputation with consumers. Containing allergens or ingredients outside the regulatory jurisdiction is one of the reasons for the recall. For example, in July 2021, the Food and Drug Administration (FDA) announced a recall of cabbage kimchi due to possible Listeria contamination. Therefore, the possible occurrence of product recalls worldwide for any reason may deter consumers from purchasing the products, which may hinder the growth potential of the global kimchi market during the forecast period.
The market share growth by the offline segment will be significant during the forecast period. Offline distribution channels include physical stores such as supermarkets, hypermarkets, convenience stores, and specialty stores. Through these channels, customers can actually inspect and purchase kimchi products.
The offline segment was valued at USD 3,148.28 million in 2017.
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Due to the perishability of the product and consumer preference to check the product before purchase, offline channels are still the dominant distribution channel for kimchi. Overall, the offline sales channel remains the main distribution channel for kimchi products, which is expected to drive the growth of the segment during the forecast period.
APAC is estimated to contribute 81% to the growth of the global market during the forecast period.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The APAC region has become an important market for kimchi due to its cultural ties to South Korea and the growing popularity of kimchi as a healthy and delicious food.
South Korea is the world's largest producer and exporter of kimchi, as well as a major consumer of kimchi. There is also a strong demand for kimchi in other countries in the APAC region, such as Japan, China, and Taiwan, and major suppliers of kimchi in the region include CJ CheilJedang, Daesang, Dongwon F&B, Elaia Holdings, and Plum One. Overall, the APAC region's kimchi market is expected to continue growing during the forecast period, owing to factors such as increasing demand for healthy and natural foods and the increasing popularity of Korean cuisine.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. The COVID-19 pandemic significantly impacted food and beverage production, processing, and distribution in the region. The global food supply chain was disrupted by the economic impact of lockdowns and restrictions in various countries. In addition, the number of people infected with the new coronavirus infection increased in 2020, which led to the temporary closure of kimchi processing and packaging factories. These factors temporarily hindered the regional kimchi market growth in 2020. With the lifting of lockdowns, the reopening of businesses, and the commencement of phased vaccinations, the region's market started to grow. In addition, factors such as increasing demand for nutritious foods have boosted the demand for kimchi in the region. Furthermore, growing consumer awareness of the health benefits of kimchi is expected to drive the growth of the focus market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Kimchi Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Chois Kimchi LLC: The company offers kimchi solutions such as canned kimchi tuna, kimchi ramyun noodle soup, and oolongmen kimchi cup.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The kimchi market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global kimchi market as a part of the global packaged foods and meats market under the global food products segment of the global food, beverage, and tobacco market. The global packaged foods and meats market covers manufacturers or food processing vendors that are involved in food processing to eliminate microorganisms and extend shelf life. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Kimchi Market Scope |
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Report Coverage |
Details |
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Page number |
159 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.49% |
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Market growth 2023-2027 |
USD 1,215.96 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.5 |
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Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 81% |
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Key countries |
US, South Korea, Japan, China, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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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 |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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