"Falling for the Fun of Dipping"... Sauce Market Booms Amid COVID-19 Pandemic

Source Sauces Gain Spotlight Since COVID-19
Source Sauce Market Increases by 2 Trillion Won in 4 Years
Rise in Home Dining and Popularity of Ready Meals Are Factors
Various Sauces Launched for Different Situations and Uses Continue

[Asia Economy Reporter Song Seung-yoon] With the spread of home-cooked meal culture triggered by the COVID-19 pandemic, the domestic sauce market is also growing alongside it.

According to the Korea Agro-Fisheries & Food Trade Corporation (aT) on the 28th, the production value of sauces in Korea increased by 22.4% over four years, from 1.6584 trillion won in 2016 to 2.0296 trillion won in 2020. The industry estimates that the sauce market size exceeded 2 trillion won last year as well.

The prolonged COVID-19 pandemic has been a major factor in the growth of the sauce market. As dining out decreased and home dining increased, more households began cooking their own meals. The rapidly growing Home Meal Replacement (HMR) market after COVID-19 also drew attention to sauces, which are easy to pair with these meals. Many HMR products now include sauces as components. Another reason is the increased demand for camping due to COVID-19. As outdoor activities became more popular, products have diversified into forms suitable for enjoying outdoors.

Consequently, both exports and imports of sauces have increased. Domestic sauce exports rose 85.7% over four years, from $98.78 million in 2016 to $183.47 million in 2020. Imports also increased by 34.8% during the same period, from $139.28 million to $187.69 million. The global K-culture wave has sparked interest in Korean food and sauces overseas, while increased overseas travel experiences have led domestic consumers to seek imported sauces after tasting various sauces from around the world.

The food industry is responding quickly to the popularity of sauces. They are diversifying products by continuously launching sauce products that can be easily paired at home and sauces suitable for various situations. There are also many cases where companies that did not previously handle sauce products are entering the market as latecomers, or importing and selling famous sauces from abroad.

Samyang Foods, leveraging the strong brand power of its 'Buldak' (Hot Chicken) brand, which is also popular overseas, is offering a variety of products including sauces and foods using these sauces as recipes. The Buldak sauce product line, which has been steadily popular among young consumers, has expanded to seven types, including seasoning sauces and stick-type products. Last month, they also launched three types of Buldak curry using Buldak sauce.

CJ CheilJedang released four types of Baeksul BBQ sauces this month in collaboration with the barbecue specialty dining restaurant 'Yoo Yong-wook BBQ Lab.' These sauces, previously only available at the restaurant, can now be enjoyed in various settings such as at home and outdoor activities.

In the same month, Ottogi launched 'Lee Kum Kee Garlic Oyster Sauce' and 'Lee Kum Kee Vegan Sauce,' reflecting Korean taste trends, based on the savory oyster sauce. Ottogi has been the exclusive importer of Lee Kum Kee products since 1996. The Lee Kum Kee Vegan Sauce, released for the vegetarian population, uses mushrooms instead of oysters to replicate the umami flavor of oyster sauce.

LF Food also officially launched the globally renowned whiskey brand Jack Daniel's BBQ sauces in Korea. Available in three types?Original, Honey, and Sweet & Spicy?these products contain Jack Daniel's signature Tennessee whiskey and are produced in small quantities using a slow cooking method. Additionally, various collaborative products among the food industry, dining industry, and distribution channels are being released.

An industry insider said, "Sauces, which were once limited to certain categories, have become more diverse after COVID-19, leading to continuous new product launches. Just as overseas consumers increasingly seek spicy flavors, domestic consumers also prefer new tastes in sauces, often turning them into trends."

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