Kimchi Market by Product and Geography - Forecast and Analysis 2020-2024

Global Kimchi Market

About this market

Technavio’s kimchi market analysis considers sales from conventional kimchi and organic kimchi products. Our study also finds the sales of kimchi in APAC, Europe, MEA, North America, and South America. In 2019, the conventional kimchi segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as challenges associated with the shift from conventional ingredient production to high-scale organic production will play a significant role in the conventional kimchi segment to maintain its market position. Also, our global kimchi market report looks at factors such as product launches, health benefits offered by kimchi, and initiatives for the development of the kimchi industry. However, product recalls, growing preference for freshly prepared kimchi, and the availability of other fermented foods may hamper the growth of the kimchi industry over the forecast period.

Global Kimchi Market

Overview

Health benefits offered by kimchi

Kimchi is a low-fat, high-fiber food product widely available through various distribution channels. Consumers worldwide have started opting for healthy food products owing to the side effects associated with processed food products that contain added flavors and other additives. Kimchi offers a wide range of health benefits. As kimchi is fermented, it contains healthy bacteria called lactobacilli, which aids in digestion. Also, the by-product of fermentation probiotics can prevent infections among consumers. Kimchi contains Vitamin A that can help to get rid of free radicals that cause cancer. Also, Vitamin A helps maintain healthy eyesight. Such benefits offered by kimchi will lead to the expansion of the global kimchi market at a CAGR of almost 8% during the forecast period.

Growing demand for plant-based diets

Plant-based diets are gaining popularity worldwide owing to growing consumer inclination toward healthy food. Kimchi is made of plant-based ingredients such as cabbage, radish, ginger, and onion. The growing shift toward plant-based diets is encouraging some of the vendors in the market in focus to launch new variants of plant-based kimchi. Some of the factors encouraging consumer shift toward plant-based diets are the health risks associated with meat consumption and growing focus on animal welfare. Plant-based food products contain necessary nutrients such as fiber, antioxidants, magnesium, folate, potassium, beneficial plant compounds, and vitamins. This development is expected to have a positive impact on the overall market growth.

For the detailed list of factors that will drive the global kimchi market during the forecast period 2020-2024, click here.

Competitive Landscape

With the presence of several major players, the global kimchi market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading kimchi manufacturers, that include CJ CheilJedang Corp., Cosmos Food Co. Inc., Daesang Corp., Dongwon F&B, Elaia Holdings (Hong Kong) Ltd., MILKimchi Inc., Pulmuone Co. Ltd., Sinto Gourmet LLC, Sunja’s Oriental Foods Inc., and Tazaki Foods Ltd.

Also, the kimchi market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.