Kimchi is a traditional side dish of Korea that is currently gaining significant popularity worldwide on account of the increasing popularity of international cuisines. Globalization has propelled worldwide culture, traditions, and food choices to be tried and tested for gaining experience. The travel industry and their marketing techniques have also emphasized on trying different cuisines and understand the food and beverage choices of people in different corners. People worldwide are seeking sensory and new products in comparison to regular staple diet and this has opened new doors of opportunity for Kimchi market. This traditional Korean fermented food is considered a healthy side dish made of red pepper, different vegetables and various spices and some fermented seafood rich in dietary fiber and biological components, along with vitamins and minerals. The process of preparing is very simple as it does not require desalting or processing before consumption.
Adoption and sharing of cultures across the globe is now becoming more popular. There is a growing inclination towards innovative food and drink products and people are keen on tasting different flavors and trying out food of different cultures. As diseases such as the corona pandemic divides us and forces us to stay home and protected, the adoption of new food culture and the urge to try something new among millennial and adults locked up at homes due to pandemic is a prime factor augmenting the growth of the global Kimchi market. The Korean food with several nutritional and health benefits has created new growth opportunities for the Kimchi market as a result of which, revenues are flowing in from all regional directions. The sensory flavor, rich taste, and high nutritional value of Kimchi is what will further help this market gain significant revenues in the near future.
The Asian culture and its beauty is slowly being discovered and appreciated by the rest of the world. This is mainly due to their hospitable approach, cheap currency that propels people to come explore the beauty of the place and enjoy the local dishes, and emerging medical tourism industry. Besides being rich in culture and tradition, Asia is also rich in a variety of food and spice products, and this is why its multi-cuisine food and beverage items are gaining popularity worldwide.
Wide Variety of Kimchi Types and Continuous Innovation by Players will Further Gain Traction for Kimchi Market
Kimchi is mainly of two types in nature, namely conventional, and organic. The end-use industries dealing with Kimchi include the retail or household sector and food service industry. They are available in convenience stores, specialty stores, supermarkets and hypermarkets but can also be made at home, provided you have the right ingredient. Kimchi is available in the market in various product type such as red mustard leaf Kimchi, cucumber Kimchi, cabbage Kimchi, and Kimchi relish, among which the red mustard leaf Kimchi and Kimchi relish are the most popular. Some of the popular brands operating in the global Kimchi market include Elaia Holdings, Sunja’s Kimchi, Dongwon Group, Kimchi Culture, Lucky Foods. Tazaki Foods Limited, King Asian Gourmet, Real Pickles, CHOI’s Kimchi Co. and others. The increasing popularity and acceptance of unique spices and herbs will help players present their Kimchi products in the most innovative way, thereby attracting revenues for the market in the coming years.
Regionwise, western nations are keen on trying international cuisines, and therefore, seem as the most potential market for Kimchi in the next couple of years. Asia Pacific currently holds the dominant position in the market on account of the wide consumption rates in China, Korea, and parts of Myanmar as well. However, the market in North America will witness notable revenues in the coming years on account of the increasing popularity of south Asian food products in the developed nations of Canada and the United States.