Chicken's Transformation Is Innocent "300 Billion Wriggling"... Awaiting Leap as Next-Generation K-Food

Growth Trend in Refrigerated and Frozen Processed Food Market
Active Launch of Chicken-Based Products... Popular Overseas
Exports of Chicken Breast Products... Expected Leap of K-Food

[Asia Economy Reporter Lee Seon-ae] "Taking care of health while catering to the tastes of people worldwide," the market for refrigerated and frozen processed chicken products is rapidly growing due to the health food trend. Various processed chicken products released by food and dining companies in response to consumer needs are driving this growth. Moreover, Korean chicken dishes are gaining attention from overseas consumers who previously only consumed chicken breast by boiling or grilling without oil, hinting at the potential to become the next-generation K-food (Korean food wave).

◆Processed Chicken Market Surpasses 300 Billion KRW in 2022= According to global market research firm Euromonitor on the 2nd, the refrigerated processed chicken product market increased from 7 billion KRW in 2014 to 18.7 billion KRW in 2017, then rapidly grew to 31.5 billion KRW in 2018 and 42.5 billion KRW in 2019. The frozen processed chicken product market also grew from 137.9 billion KRW in 2014 to 157.2 billion KRW in 2017, 177.6 billion KRW in 2018, and reached 195.4 billion KRW last year. This growth is attributed to the health food trend and diet craze, which have increased consumption of various chicken-based products.

Moon Kyung-sun, Chief Researcher at Euromonitor (Food and Nutrition Division), analyzed, "The market size is expanding as refrigerated and frozen processed chicken products targeting consumers who prioritize health and dieting gain great popularity."

The outlook is also optimistic. Euromonitor forecasts the refrigerated processed chicken product market to reach 51 billion KRW this year, 66.3 billion KRW in 2022, and 81.6 billion KRW in 2024. The frozen processed chicken product market is expected to grow from 211 billion KRW this year to 236 billion KRW in 2022 and 254 billion KRW in 2024. Overall, the refrigerated and frozen processed chicken product market is projected to surpass 300 billion KRW in 2022.

Korea Yakult It's On Green Kit 4 Types.

◆HMR’s Favorite Item= Food and dining companies are launching various products using chicken. As Home Meal Replacement (HMR) establishes itself as a new food culture, chicken, which can be cooked in diverse ways, is being actively utilized. Korea Yakult recently launched a premium salad called 'It's On Green Kit' featuring 'Chicken Breast Ham Ranch Caesar.' CJ Foodville’s Season’s Table also released three new HMR products: 'Garlic Soy Sauce Dakgalbi,' 'Spicy Gochujang Dakgalbi,' and 'Soy Sauce Grilled Chicken Wings.' Harim strengthened its product lineup by launching meal kits such as 'Harim Royal Court-style Steamed Chicken' and 'Harim Sun-dried Pepper Chicken Stew,' allowing consumers to easily enjoy various chicken dishes at home.

The chicken franchise industry is also focusing on launching convenient chicken-based products. Goobne Mall released three new HMR products last month: 'Chicken Breast Buckwheat Pancake,' 'Chicken Breast Galbi-flavored Dumplings,' and 'Spicy Rice Cake Chicken Cartilage.' Kyochon Chicken, after receiving positive feedback for its 'Dakgalbi Fried Rice' launched on open markets in March last year, built its own online mall and plans to introduce various convenient chicken menus highlighting Kyochon’s unique characteristics. The hamburger franchise industry is also expanding its chicken burger lineup. Burger King introduced two new King Chicken Burgers this year. Mom’s Touch is selling two types of 'Sauce Momdak,' chicken breast with tteokbokki sauce, through its online store Mom’s Touch Mall.

RankingDakCom products.

◆Our Chicken Dishes Popular Overseas Too= Korean chicken dishes are also well received overseas. Known as healthy foods, they are highly likely to become the next-generation K-food stars. Researcher Moon said, "Korea releases chicken breast products in various forms such as cube-shaped and seasoned, which are convenient and tasty high-protein healthy diets. These are popular among young female consumers in other countries and in nations with aging populations like Japan," emphasizing, "Korea’s diverse processed chicken products have great potential to become strong players in K-food."

Harim and Maniker F&G are leading the export of Samgyetang (ginseng chicken soup) HMR products, currently offering products in 12 countries including the United States, Japan, Taiwan, and Hong Kong. They are also negotiating exports with the 27 countries of the European Union (EU). These companies are focusing not only on traditional Samgyetang but also on exporting Samgyetang made with chicken breast. Foodnamu, which operates Korea’s largest chicken breast shopping mall RankingDak.com, will officially start exports to China this year. In December last year, it signed a joint venture agreement with KOSDAQ-listed Wingip Food and plans to generate significant sales in China within the first half of the year. Wingip Food has offline sales channels in China such as Carrefour, Lotus, and Alibaba’s Hema Fresh, and online channels including JD.com and Taobao. Previously, Foodnamu introduced chicken breast HMR products in Hong Kong, Mongolia, and Vietnam.

This content was produced with the assistance of AI translation services.