Kimchi Market

Global Kimchi Market Size (2024 to 2029)

Kimchi market share value is expected to grow at a CAGR of 5% during the forecast period 2023-2028 to reach USD 4675.8 million by 2029 and USD 3660 million by 2024.

Kimchi, a traditional Korean fermented side dish, is crafted from vegetables, with Napa cabbage being the most common choice, and a medley of seasonings like chili pepper, garlic, ginger, and salted seafood. Its flavor profile boasts a tangy, spicy, and subtly sour essence, making it a distinctive and delightful complement to various meals. This revered dish is enjoyed independently or incorporated into soups, stews, and rice dishes. Beyond its origins, kimchi's reputation as a healthful food stems from its impressive nutritional content and the presence of probiotics. Notably low in calories and high in fiber, vitamins, and minerals—such as vitamin C, vitamin K, and iron—kimchi's fermentation process also generates beneficial probiotics that promote gut health and digestion. While deeply rooted in Korean cuisine, kimchi's popularity has transcended borders, influencing Japanese, Chinese, Fusion (examples include Korean tacos and kimchi pizza), and Vegetarian/Vegan culinary landscapes. Recognized by UNESCO as a facet of Korea's Intangible Cultural Heritage, every autumn, we witness Korean women congregating to prepare ample kimchi batches for the winter months.

Global Kimchi Market Drivers:

The major market driver for the kimchi market growth is the rising demand in urban regions for traditional and organic food products. Kimchi is a traditional Korean side dish. Demand is from those consumers who shift from the countryside to cities and often find difficulty in preparing traditional cuisines. Also, due to the fast-paced lifestyle, ready-to-use food is prevalent. Kimchi is being marketed as frozen foodstuff and included in ready-to-eat food products. Moreover, the past few years have witnessed a significant surge in the desire for natural, organic, and wholesome food items, a trend observed both in developed and developing markets. The burgeoning urbanization and evolving dietary preferences are the driving forces behind this heightened demand for nutritious edibles. Kimchi, encompassing an array of components like vegetables, herbs, and spices such as cabbage, turnip, onion, chili pepper, garlic leaves, and more, emerges as a pivotal player. These core ingredients not only impart a delectable taste, appealing texture, and an assortment of flavors but also offer an abundance of essential nutrients crucial for the human body. As a result of these compelling factors, the appetite for kimchi products is on a discernible upswing. Therefore, the global kimchi market is expected to record a high CAGR during the projected period.

Global Kimchi Market Restraints:

The factors likely to hamper the market growth of the global kimchi market are an escalating array of distribution challenges. These encompass the constrained longevity of kimchi, the necessity for specific storage and transportation prerequisites, and the imperative to uphold uniform product excellence and taste across diverse production lots. Moreover, intricate regulatory frameworks and import limitations in certain areas can challenge broadening market reach.These factors are poised to serve as constraining influences on the growth trajectory of the global kimchi market within the projected timeframe, intertwined with limited awareness concerning the advantages of kimchi consumption. Furthermore, the presence of alternative plant-based fermented alternatives such as sauerkraut and natto, boasting analogous attributes to kimchi, contributes to the dampening of kimchi's sales performance.

As the call for advancements in product offerings, inventive packaging solutions, and technological progress escalates, the utilization of kimchi refrigerators is witnessing a notable upsurge in kimchi preservation. This trend is poised to unlock substantial prospects that will catalyze the expansion of the global kimchi market during the previously mentioned projected timeframe. This presents untapped opportunities in the global kimchi market.

Impact of COVID-19 on the Global Kimchi Market:

Amid the global COVID-19 pandemic, businesses spanning diverse industries encountered significant disruptions owing to the governmental implementation of lockdown measures aimed at curtailing disease transmission. This led to temporary closures of manufacturing facilities, resulting in production standstills. Furthermore, the global availability of Kimchi faced challenges due to scarcity of raw materials and disruptions in supply chains stemming from import and export restrictions imposed by various countries. Nevertheless, the food and beverages sector witnessed a remarkable upswing in demand both during and after the pandemic. This was propelled by heightened consumer interest in natural and organic food products, accompanied by an increased inclination towards home-cooked meals. Consequently, manufacturers are redirecting their focus towards a novel supply chain approach, emphasizing online retail sales. This shift is poised to exert an influence on the trajectory of the kimchi market's growth. By the second quarter of 2021, the global kimchi market had regained its momentum, returning to a state of typical growth.

REPORT COVERAGE: 

This research report on the Global Kimchi Market has been segmented and sub-segmented based on type, nature, end-use, and region.  

Global Kimchi Market - By Type:

• Kimchi Relish
• Cabbage Kimchi
• Cucumber Kimchi
• Red mustard leaf Kimchi
• Others

Based on type, the cabbage kimchi segment has dominated the global kimchi market in 2022 and is anticipated to grow at the highest CAGR during the projected period. Though napa cabbage kimchi stands as the prevalent variant, an array of other kimchi types crafted from diverse vegetables and seasonings exists. Napa cabbage, extensively cultivated in East Asia, serves as a staple for producing kimchi—a traditional Korean delicacy characterized by its zesty fermented vegetable composition. Thus, it is attributed to holding the largest market share compared to other kimchi varieties in the global kimchi market.On the other hand, the kimchi relish is spicy, tangy, salty, full of good bacteria, and is excellent as a topping on hot dogs, burgers, and more. This kimchi variety is also very popular among Asians and native people due to its exotic taste. Therefore, it is likely to record the quickest CAGR during the forecast period.

Global Kimchi Market - By Nature:

• Organic
• Conventional

Based on its nature, organic kimchi is expected to dominate the global kimchi market during the forecast period. The demand for handmade and natural products has surged among consumers who seek to minimize their exposure to toxic ingredients, further driving the popularity of organic kimchi. Organic kimchi is crafted from components cultivated devoid of synthetic pesticides, herbicides, or genetically modified organisms (GMOs). This resonates with consumers who prioritize choices that are both natural and environmentally sustainable. This will eventually fuel the global kimchi market during the mentioned timeframe. Simultaneously, conventional kimchi remains highly sought-after and is projected to achieve the fastest CAGR during the forecast period. 

Global Kimchi Market - By End-use:

• Foodservice
• Household/retail

Based on the end-user, throughout the forecast period, the global kimchi market is anticipated to be dominated by the food service segment. This dominance is attributed to favorable factors like rising individual disposable incomes, rapid urbanization, and a growing trend of dining out in the Asian market. The food service industry is expected to hold around 60% of the total value share in the global kimchi market. 

On the other hand, the retail segment is expected to record a moderate CAGR during the projection period.

Global Kimchi Market – By Region:

• North America 
• Europe 
• Asia-Pacific 
• Latin America 
• Middle East and Africa

Based on region, the Asia-Pacific region is projected to witness growth in the global kimchi market from 2023 to 2028. This upswing can be attributed to the increasing interest in plant-based diets and a heightened appetite for healthful and nourishing offerings within the region. The distinctive taste profile of kimchi, reminiscent of Chinese cuisine, coupled with the popularity of Chinese and Korean culinary items among South Asian consumers, is anticipated to have a favorable impact on the expansion of the kimchi market. Furthermore, in North America and Europe, kimchi is currently an emerging product, poised to garner significant traction in the foreseeable future. In the coming years, North America is set to experience substantial growth driven by the escalating cross-cultural food trend. The United States, positioned as the second-largest global importer of kimchi, plays a pivotal role in this surge. Additionally, the surging consumer appetite for novel gastronomy has resulted in the integration of kimchi into items such as burgers and wraps, facilitating global kimchi market reach in the region. 

KEY MARKET PLAYERS:

Key Market Players of Kimchi Market are CHOI'S KIMCHI CO. (US), Kimchi Culture (US), DAESANG (South Korea), Sinto Gourmet (US), Cosmos Food Co., Inc. (US), Real Pickles (US), Mama O's Premium Kimchi (US), Dongwon Group (Seoul), CJ CHEILJEDANG CORP (South Korea), Lucky Foods (US), TOP GOURMET Food Industries Pte Ltd (Singapore), Sunja's Kimchi (US), King's Asian Gourmet (US), Pulmuone Foods USA (US), Elaia Holdings (HongKong), Tazaki Foods Limited (UK), CHOI'S KIMCHI CO (US).

RECENT HAPPENINGS IN THE MARKET:

• In June 2023, Daesang Corporation, a South Korean company specializing in food and pharmaceutical ingredients, revealed its acquisition of the US-based food company Lucky Foods. This strategic move by Daesang aims to enhance its presence in key areas of its worldwide endeavors, such as Kimchi, sauces, and home meal replacement products.
• In Feb 2023, Reports indicate that Dongwon Group is in the midst of procuring McDonald's Korea. The holding company of the group, Dongwon Industries, emerged as the sole initial bidder during the tender on January 17th. Following this, the group commenced its initial round of evaluations within a week's time.