Kimchi Market To Reach USD 7.3 Billion By 2032 | DataHorizzon Research

The kimchi market size valued at USD 4.6 Billion in 2022 and is anticipated to reach USD 7.3 Billion by 2032 at a CAGR of 4.9%.

Fort Collins, Colorado, April 29, 2024 (GLOBE NEWSWIRE) —

The growing demand for health-conscious foods and the pursuit of sedentary lifestyles is a significant driver to the kimchi market.

The kimchi market growth is significantly driven by the increasing consumption of health-conscious foods amidst evolving lifestyles, particularly in the aftermath of the pandemic. Given that kimchi is crafted from fresh vegetables, it serves as a nutritional staple, witnessing a surge in consumption due to its associated health benefits.

Furthermore, the burgeoning vegan movement is poised to play a pivotal role in boosting the kimchi market in the forecast period. With a growing number of individuals transitioning to plant-based diets, kimchi emerges as an ideal choice, catering to the preferences of vegan consumers. Moreover, heightened awareness of animal welfare issues in poultry and fish farming has prompted many to seek alternatives within kimchi, such as replacing fish sauces, meat, and chicken with plant-based substitutes, further driving demand for this traditional dish. 

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Segmentation Overview:

The kimchi market has been segmented into product type, nature, distribution channel, and region.

Baechu Kimchi is the dominant product type category

  • Baechu Kimchi holds a significant share in the type segment as the majority of people in both Korea and internationally consumers prefer consuming kimchi made from napa cabbage. Baechu kimchi accounts for more than 70% of the global market share.

Supermarkets/Hypermarkets hold a dominant share in the distribution channel category

  • Supermarkets and hypermarkets hold a significant share of the distribution channel segment. The majority of people prefer buying ingredients from supermarkets or hypermarkets, as they can get all the daily household goods in one place. 

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Kimchi Market Report Highlights:

  • The kimchi market growth is anticipated at a CAGR of 4.9% by 2032.
  • Rising consumption of healthy foods followed by changing lifestyles and preferences drives the kimchi market growth.
  • The Asia-Pacific is a prominent market for kimchi and is projected to retain a significant market share in the coming years.
  • Some prominent players in the kimchi market report include Cosmos Food Co., Pulmuone Co. Ltd., Tazaki Foods Ltd., CJ CheilJedang Corp., Sinto Gourmet LLC, Elaia Holdings Ltd., DASANG Corporation, Sunja’s Oriental Foods Inc., Jongga Global, The Kimchi Company, and others. 

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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

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