Kimchi Market revenue is expected to grow by 5.17% from 2023 to 2029
Kimchi Market Report Scope and Research Methodology:
In 2022, the Global Kimchi Market boasted a significant valuation of USD 3.62 billion. Forecasts indicate a promising trajectory, with a projected 5.17% growth in Kimchi Market revenue from 2023 to 2029, ultimately reaching a substantial USD 5.15 billion.
Kimchi, a staple in Korean cuisine, has transcended its origins to become a worldwide culinary sensation. Renowned for its traditional fermentation process, this Korean delight incorporates various vegetables, red pepper, spices, and fermented seafood. Beyond its flavorful profile, kimchi packs a nutritional punch, offering a wealth of vitamins, minerals, dietary fiber, and other vital biological components. Notably, kimchi stands out as a hassle-free dish, typically requiring no additional processing or desalting before consumption.
As global consumers increasingly seek novel and sensory culinary experiences, the global kimchi market is poised for robust growth. The trend extends beyond traditional preferences, reflecting a global appetite for diverse and health-conscious food choices.
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Kimchi Market Dynamics:
The MMR report provides a comprehensive exploration of the dynamics shaping the Kimchi Market. This detailed analysis offers readers insights into emerging trends, drivers, restraints, opportunities, and challenges on both a global and regional scale.
Globalization, a phenomenon encompassing the increasing interconnectedness of the world's economies, cultures, and populations, is intricately linked with international trade. The exchange of goods and services between different countries has surged due to globalization, fostering openness to trade and investment. This interconnectedness, facilitated by globalization, has contributed significantly to the expansion of international trade, enabling the dissemination of goods, services, ideas, and culture on a global scale.
The symbiotic relationship between globalization and international trade yields various advantages for countries and their inhabitants. These include heightened economic growth, reduced prices for consumers, and an upswing in job opportunities. Despite these positive outcomes, it is crucial to acknowledge that globalization and international trade can also give rise to challenges, such as income inequality and environmental degradation. Striking a balance between the benefits and drawbacks is essential for navigating the complexities of this global landscape.
Kimchi Market Regional Insights
The Asia-Pacific region dominated the market share, surpassing 70% in 2022, primarily driven by the surging demand for Kimchi in Korea. The appeal of Kimchi, with its flavor reminiscent of Chinese cuisine, contributes to its popularity among South Asian consumers, fostering a positive growth outlook for the kimchi market. In this region, a cultural tradition involves crafting kimchi before winter to ensure its preservation until summer, when fresh vegetables become abundant. Notably, in 2018, the production value of kimchi in South Korea reached an estimated 1.1 trillion South Korean won. The evolving consumer preferences in Korea, favoring ready-made kimchi items over homemade production, have led to a consistent increase in kimchi production.
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Kimchi Market Segmentation:
by Product
Conventional kimchi
Organic kimchi
by Distribution Channel
Departmental stores
Supermarkets/Hypermarkets
Online Retail
Other Distribution Channels
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Kimchi Market Key Players include:
1. Kimchi Culture
2. DAESANG
3. Sinto Gourmet
4. Cosmos Food Co.Inc.
5. Real Pickles
6. Mama O's Premium Kimchi
7. Dongwon Group
8. CJ CHEILJEDANG CORP
9. Lucky Foods
10. TOP GOURMET Food Industries Pte Ltd
11. Sunja's Kimchi
12. King's Asian Gourmet
13. Pulmuone Foods USA
14. Elaia Holdings
15. Tazaki Foods Limited
16. CHOI'S KIMCHI CO
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