The latest Kimchi Market report delves into pivotal movements within the industry, spotlighting key players and renowned brands. It meticulously covers developments, product launches, acquisitions, mergers, joint ventures, and competitive research sans any AI content detection. This comprehensive market analysis expands its purview from current market scenarios to comparative pricing strategies adopted by major industry players. Beyond a mere glimpse, this Kimchi Market report provides an in-depth exploration of the industry, estimating its scope and reaching into the roots of the parental market. It’s a reliable compass for understanding the Food & Beverage, offering insights into upcoming triumphs expected within the Kimchi Market.
At its core, the Kimchi Market report spotlights global industry leaders, employing SWOT analysis to intricately define, describe, and analyze the competitive landscape. Fueled by historic data, present trends, technological advancements, and upcoming innovations, this report goes beyond the surface to illuminate the industry's trajectory and technical progress. Conducting extensive competitive research, it serves as an invaluable resource for market definitions, classifications, applications, and engagements. Moreover, this report uncovers emerging trends while identifying major drivers, challenges, and opportunities shaping the market landscape—providing an indispensable guide for navigating the industry's evolution
The kimchi market is expected to gain market growth in the forecast period of 2024 to 2031. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.5% in the forecast period of 2024 to 2031 and is expected to reach USD 725,817.68 thousand by 2031 from USD 475,231.72 thousand in 2023.
Definition
A classic Korean meal called kimchi is created of fermented vegetables, usually Korean radishes and Napa cabbage, along with a variety of condiments. Though there are vegan and vegetarian options, the main components are seasoned with a combination of salt, garlic, ginger, scallions, chilli peppers, and frequently fish sauce or fermented seafood. Beneficial bacteria proliferate in the combination during fermenting, giving kimchi its unique sour flavour and enhancing its status as a diet high in probiotics. A mainstay of Korean cooking, kimchi is praised for its nutritional value, adaptability as a side dish, and use as an ingredient in many other cuisines
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Key Growth Drivers:
- Rising Korean Food Tourism to Promote Food Habits
Travelling for food, introduces people to a variety of culinary customs, such as kimchi-based Korean cuisine. When tourists try kimchi for the first time, they usually get hooked and look for it when they get back home, which drives up demand in local markets. Travel experiences and cultural immersion inspire tourists to try new dishes, and they end up becoming food promoters for items such as kimchi. As they talk about their experiences, curiosity and demand for these exotic food rise at home.
The popularity of Korean eateries in tourist-heavy locations is a major factor in the global spread of kimchi. When travelers savor kimchi at these restaurants, they look for comparable experiences elsewhere, increasing demand and providing local eateries with a chance to feature kimchi on their menus. Food blogs and social media platforms frequently feature accounts of food tourism. By posting about their experiences with kimchi and other Korean treats, influencers can set trends about these dishes, which will increase the market for kimchi.
Kimchi's worldwide appeal is largely due to the expanding phenomenon of culinary tourism, which raises consumer demand and awareness of this traditional Korean cuisine. Kimchi's market is growing beyond its cultural roots as more people embrace varied cuisines and seek authentic culinary experiences. It is now a preferred ingredient in international cuisine. Beyond its cultural roots, kimchi's increased visibility and favorable response within the dynamic global food tourism environment continue to fuel interest, demand leading to the rise in the sector. Thus the rising Korean food tourism to promote the food habits is expected to act as a driver for the market growth.
- Increasing Health Benefits Associated with Kimchi
The fermentation process of kimchi causes probiotics, or good bacteria, to proliferate. By supporting gut health, these probiotics are likely to help with digestion, balance the microbiota, and possibly even strengthen the immune system. Probiotic-rich foods such as kimchi are in greater demand as consumers realise how important gut health is. Minerals such as calcium and iron, and important vitamins A, B, and C, are all found in abundance in kimchi. Its excellent nutritional value and low calorie content make it appealing to consumers who are health concerned and looking for food high in nutrients.
Antioxidants found in kimchi's constituents, such as cabbage and other spices, aid in the body's fight against oxidative stress. These features contribute to the explanation of kimchi's perceived health benefits and appeal to consumers searching for meals high in antioxidants. An increasing amount of research demonstrating the potential health benefits of kimchi has enhanced the food’s reputation as a nutritious supper. Growing evidence of its benefits for immune system performance, gut health, and even specific disorders has greatly boosted its appeal. Kimchi has become more and more well-known as people learn about and value various culinary traditions and cuisines. Its unique flavour profile has contributed to its popularity and health benefits.
As people around the world become more and more interested in functional foods with high nutritional value and flavour, kimchi's popularity as a delicious and nutrient-dense substitute has led to its inclusion in a variety of cuisines and diets, which has fueled the expansion of the global kimchi market. This growing recognition of kimchi's health advantages is driving the product's appeal to a wide range of customers who want to choose food that will both satisfy their palates and improve their overall wellness. Thus, the increasing health benefits associated with kimchi is expected to act as a driver for the market growth.
The report emphasizes the participation of key entities, notably:
- DAESANG
- CJ CheilJedang Corp
- Cosmos Food Co., Inc.
- The Cultured Food Company
- Mother-in-Law's
- South Coast kimchi
- Mama O's Premium Kimchi
- The Kimchi Company
- TRUE KIMCHI LLC
- MadgesFood
- ALCHEMY PICKLE COMPANY
- Volcano Kimchi
- YOON GLOBAL LTD
- CHOI'S KIMCHI CO.
- HEX Ferments
- Hosta Hills
- Midori Farm LLC
Key Market Perspectives:
- Thorough examination of prevailing market tendencies
- Updates on the latest product advancements and innovations
- Kimchimarket's Compound Annual Growth Rate (CAGR) for both historic and forecasted years
- Strategies and activities of prominent players and brands in the field
- Insights into the industry landscape for emerging participants
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Key Market Segmentation
By Type (Baechu Kimchi, Kkadugi Kimchi, Nabak Kimchi, Oi Sobagi, Chonggak Kimchi, Yeolmu Kimchi, Dongchimi Kimchi, Gat Kimchi, and Others), Category (Organic and Conventional), Pricing (Regular and Premium), Packaging (Bottles and Jars, Pouches, Cans, Boxes, Tubs and Trays, and Others), End User (Food Service Sector and Retail/Household), Distribution Channel (Store Based Retailers and Non-Store Based Retailers)
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