According to a market report by Lucintel, the future of the kimchi market looks promising with opportunities in the departmental stores, supermarkets/ hypermarkets, and online retail sectors. The global kimchi market is expected to grow with a CAGR of 4% to 6% from 2023 to 2028. The major drivers for this market are increasing applications in infant formulas and dietary supplements, advertising campaigns including celebrity endorsements to boost overall sales, and the emergence of prominent raw material sources provides significant opportunity.
In this market, baechu kimchi, kkakdugi, nabak, yeolmu kimchi and baek are the major segments by product type. Lucintel forecasts that baechu kimchi will remain the largest segment over the forecast period due to its flavorful and versatile nature. It can be eaten fresh and is juicy and delicious when newly made and have good storage capacity.
Within this market, supermarkets/ hypermarkets are expected to remain the largest segment due to their many offerings and facilities such as distinct shelves in supermarkets and heavy discounts.
APAC will remain the largest region due to rising demand for plant-based diets and rising consumption of healthy and nutritious products in the region.
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing preference for fermented food and beverages to improve demand of kimchi, rising demand for vegan products, and growing influence of online retailing and growing demand for plant-based diets. Cosmos Food, CJ CheilJedang, Dongwon F&B, Elaia Holdings, Tazaki Foods, Daesang, and Eden Foods are the major suppliers in the global kimchi market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global kimchi market by product type, distribution channel, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Kimchi Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global kimchi market by product type, distribution channel, and region, as follows:
Kimchi Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:
· Baechu Kimchi
· Kkakdugi
· Nabak
· Yeolmu Kimchi
· Baek
Kimchi Market by Distribution Channel [Value ($B) Shipment Analysis from 2017 to 2028]:
· Departmental Stores
· Supermarkets/ Hypermarkets
· Online Retail
· Others
Kimchi Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
· North America
· Europe
· Asia Pacific
· The Rest of the World
A more than 150 pages and in-depth TOC on “Global Kimchi Market". To download report brochure, please go to
https://www.lucintel.com and click "report brochure" tab from the menu.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/kimchi-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the kimchi market by product type (baechu kimchi, kkakdugi, nabak, yeolmu kimchi, and baek), distribution channel (departmental stores, supermarkets/ hypermarkets, online retail, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?