CJ CheilJedang's Growth Engine 'Plant-Based Foods'... "Sales Target 200 Billion Won"

CJ CheilJedang's Future Food Resource Portfolio.

[Asia Economy Reporter Moon Hyewon] CJ CheilJedang has identified the 'plant-based food' business as a future growth engine and set a goal to grow the sales of this business to 200 billion KRW by 2025. More than 70% of the total sales are planned to be generated from overseas markets.

On the 18th, CJ CheilJedang held a press briefing at the CJ Human Resources Development Center in Jung-gu, Seoul, to announce this business plan.

According to CJ CheilJedang, plant-based foods refer to all ingredients derived from plants that replace those originating from animals such as meat, fish, and milk. The current global market size for plant-based foods is estimated at 26.4 trillion KRW and is showing rapid growth with an average double-digit annual increase. In particular, 38% of the world's population follows vegetarianism for ethical or religious reasons, and recently, plant-based foods have become a trend as values such as health, nutrition, and eco-friendliness are considered important beyond animal welfare.

Considering this trend, CJ CheilJedang is strengthening its market penetration. In December last year, it launched the plant-based food specialty brand 'PlanTable' and introduced vegan dumplings and kimchi. This month, it expanded the product lineup by adding items such as tteokgalbi (grilled short rib patties), hamburger steak, and rice balls under the PlanTable brand. PlanTable products have been exported to more than 20 countries including the United States, Japan, and Australia within six months of launch.

Previously, CJ CheilJedang developed a plant-based material called 'TVP' (Textured Vegetable Protein) to replace meat for related product development. This material is a plant protein made by blending soybeans and peas. CJ CheilJedang explained that their proprietary material is designed so that the protein fibers tightly bind together, replicating the texture and juiciness of meat even after cooking. It can also be produced in various forms, making it applicable not only to Korean dishes such as soups, stews, and hot pots but also to Western cuisine.

To produce plant-based foods, CJ CheilJedang established its own production line with an annual capacity of 1,000 tons at its Incheon Plant 2. Additional expansions will be considered in line with global business growth.

The company plans to secure competitiveness in the plant-based business by expanding the product lineup and continuing research and development. It will also expand B2B channels where plant-based foods can be experienced by strengthening collaboration with catering companies and increasing partnerships with franchise brands to scale up the domestic market.

Research and development on fermented protein and cultured meat using mycelium such as mushrooms will also continue to secure sustainable future food sources.

A CJ CheilJedang official said, “We will pioneer the domestic market with plant-based foods accumulated with CJ CheilJedang’s know-how and experience, and expand direct entry into advanced overseas markets such as the United States and Europe to complete the globalization of Korean food culture.”

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