Fearsome Newcomer in Bibim-myeon, 'Bae Hong-dong' Sells 25 Million Units in 120 Days

Nongshim Bae Hong Dong Bibimmyun

[Asia Economy Reporter Seungjin Lee] Nongshim's 'Bae Hong Dong,' targeting the 150 billion KRW annual bibim-myeon market, is causing a stir. It is establishing itself as a formidable newcomer by reducing the market share of 'Paldo Bibim-myeon,' which dominates with over 70% market share, by about 10 percentage points.

According to industry estimates on the 8th, Nongshim's Bae Hong Dong Bibim-myeon, launched in March this year, achieved sales of 25 million units within 120 days of release, increasing its market share to 30%. Paldo Bibim-myeon, which once held 70-80% of the entire bibim-myeon market, has dropped to the 60% range due to successive new product launches.

Following behind, Ottogi, Samyang Foods, and Pulmuone have introduced new bibim-myeon products this year, competing fiercely.

As competition in the bibim-myeon market intensifies, the overall market size has also grown significantly. According to the Korea Agro-Fisheries & Food Trade Corporation (aT), the domestic bibim-myeon market grew approximately 56% from 89.6 billion KRW in 2016 to 140 billion KRW last year. This year, it is expected to expand to the 150 billion KRW range. Emart's total sales of bibim-myeon products from April to June this year increased by 9.3% compared to the previous year.

With the peak bibim-myeon season in July and August approaching, industry competition to increase market share is expected to become even fiercer. Pulmuone's 'Nature is Delicious Jeong·Baek·Hong Bibim-myeon' is targeting niche markets through vegan certification of 'Jeong Bibim-myeon' and market penetration with limited edition products in collaboration with the professional baseball team LG Twins. Samyang Foods, the latest entrant into the bibim-myeon competition, launched 'Samyang Bibim-myeon' as the brand's first bibim-myeon, selling over 1.5 million units within three weeks of release, establishing itself in the market.

A food industry official explained, "With the continuous release of bibim-myeon products, competition targeting the summer market is expected to intensify. Especially as time spent at home has increased due to COVID-19 and camping demand has grown, bibim-myeon brands that capture this summer market will receive sustained love from consumers."

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