Under the popular HMR (home meal replacement) trend in South Korea, convenient processed meat and seafood requiring only heating in a microwave drives healthy growth of processed meat and seafood overall. For example, frozen processed red meat was previously considered as meat patties, but side meat dishes for consumption when drinking are now very popular, and the number of products proliferated in 2018.
Health-conscious consumers drive strong performance of chilled processed poultry in 2018. In South Korea, the chicken fast food foodservice channel is particularly large, which has constrained the ability of processed poultry to grow.
Shelf stable meat continues to increase despite lingering concerns that canned ham and shelf stable sausage contain chemical ingredients. Canned ham was established as a premium food in South Korea in the mid-1950s when imported canned ham appeared in South Korea for the first time, and this perception has yet to change.
CJ Cheiljedang maintains the leading position in processed meat and seafood overall. The company ranks as the largest player across all processed meat with the brand equity of Spam, Beksul and The Healthier Ham included under other CJ Cheiljedang brands.
Dongwon F&B maintains the leading position within processed seafood despite losing marginal value share in 2018. Shelf stable seafood accounts for over half of total processed seafood by value, and shelf stable seafood includes canned tuna, canned salmon, canned whelk, canned mackerel pike etc.
In meat substitutes, Pulmuone and CJ Cheiljedang record dominant positions in tofu. In South Korea, tofu is widely and regularly used for pancakes and in stews or soups.
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This industry report originates from Passport.