FAS/Seoul Monitoring of Media Reporting on Agricultural Issues

Today's Date: Friday,  May 6,  2022

For Coverage:  April 25 ~  May 6, 2022

 

The Market for Inner Beauty Products Grows

https://n.news.naver.com/mnews/article/030/0003015018?sid=101 

Summary:  The inner beauty market is estimated to be worth 600 billion won last year and is growing steadily as more people are concerned about their health after the outbreak of the Covid-19.  Collagen has been the main ingredient for inner beauty food products.  New products using various ingredients are being introduced in the market as regulations on health functional food have been eased.  In addition to pharmaceutical companies and health functional food companies, cosmetic and food companies are also entering the market by expanding their products.  Nongshim, a Korean food giant, is strengthening its health functional food competitiveness by renewing its inner beauty brand Lifill.  Nongsim announced it will introduce various products this year and raise its annual sales of inner beauty products to 50 billion won. 

 

Subway Introduces Sandwich Menus Using Avocados

https://n.news.naver.com/mnews/article/417/0000810320?sid=101 

Summary:  Subway, a leading sandwich franchise brand, introduced three sandwich menus (Turkey Bacon Avocado Sandwich, Roast Chicken Avocado Sandwich, Vegetarian Avocado Sandwich) using avocados.  Avocado is a ‘Super Food’ that is highly nutritious and is linked to several health benefits.  Avocados are rich in vitamins and potassium and have low sugar content.  Subway uses puree made of finely ground avocado as a topping for sandwiches. 

 

California Avocado Commission Begins a Recipe Development Project

http://realfoods.co.kr/view.php?ud=20220503000126 

Summary:  The California Avocado Commission will proceed with a recipe development project using California avocados collaborating with five popular Korean chefs (Yeon Bok Lee, Edward Kwon, Min Hyeok Park, Min Ju Yoo, Leo Kang).  They will introduce five new menus, including Chinese food and western food.  Each recipe will be released through YouTube from April 27 to May 13.  Jan Delyser, vice president of the marketing division for the California Avocado Commission, said that consumers are more concerned about their health after the Covid-19 crisis, and interest in California avocados has increased accordingly. 

 

Sales made by the Self-Employed Increased by 14.2%

https://n.news.naver.com/mnews/article/003/0011159177?sid=101 

Summary:  South Korea eased most of the social distancing restrictions in April, moving closer to post-pandemic life.  Restaurants, cafes, and many other business establishments are operating freely without limits on customer group size and business hours.  According to Korea Credit Data, self-employed people saw a 14.2 percent increase in their card sales during April 18-24, compared to the same period last year. 

 

SSG.COM and Gmarkert Global Introduces an Integrated Membership

https://newsis.com/view/?id=NISX20220427_0001849412&cID=13001&pID=13000 

Summary:  SSG.COM and Gmarket Global, two leading e-commerce platforms, integrated their membership service for customers.  The combined sales of the two platforms accounts for 13.5% of total e-commerce sales, in second place after Naver (17.4%), the strongest player in the domestic e-commerce market.  SSG.COM has a strong fresh food grocery service, and Gmarkert Global specializes in industrial products.  Gmarket Global plans to expand their delivery services utilizing the logistics infrastructure of SSG.COM. 

 

Sales by Major Retailers Increased

https://n.news.naver.com/mnews/article/031/0000669228?sid=101 

Summary:  According to the Ministry of Trade, Industry and Energy, sales by major retailers increased 7.1% in March this year compared to the same period last year.  Offline retailers (up 6.3%) and online retailers (up 7.9%) both saw growth in their sales.  Convenience stores showed the highest growth (up 11.5%), followed by department stores (up 7.8%).  In both online (up 24.5%) and offline channels (up 12.1%) , demand for food products soared during the recent omicron wave. 

  

Demand for Plant-based Protein Increases

https://n.news.naver.com/mnews/article/421/0006057371?sid=101 

Summary:  Demand for meat alternatives such as plant-based protein is increasing.  According to Samjong KPMG, an economic research institute, the international plant-based protein market is forecast to reach 77.8 billion dollars (95 trillion won) by 2025.  The Korea Rural Economic Institute (KREI) announced on July 2020 that the domestic market for plant-based protein will increase on average by 15.7% annually from 2019 to 2026.  Plant-based eggs, developed by ‘Just Egg TM’, an American food-tech corporation, are gaining popularity.  Just Egg has saved 41.4 billion liters of water and reduced carbon emissions by 43.9 million kg during the production of plant-based eggs when compared to animal eggs. 

 

The First In-House Venture of CJ Cheil Jedang Debuts

http://www.foodnews.co.kr/news/articleView.html?idxno=96567 

Summary:  CJ Cheil Jedang, a Korean food giant, launched Excycle, a food upcycling brand developed under the in-house venture program INNO 100.  Two types of chips made with upcycled materials were designed by employees in their twenties to forties.  “Excycle Crispy Chips” are made with broken rice and soybean okara.  The packaging material is recycled from used plastic bottles.  The product will first meet customers through the crowdfunding platform Wadiz in the upcoming month, and will enter various distribution channels in the second half of this year.  CJ Cheil Jedang said they will continue their efforts to develop upcycling products to meet the younger generation’s demand for sustainable products.  

 

The Market for Zero Calorie Drinks Grows

https://n.news.naver.com/mnews/article/003/0011146669?sid=101 

Summary:  The market for unsweetened zero-calorie drinks is growing along with increased health concerns during the pandemic.  A growing number of consumers are placing importance on health when purchasing food products.  The domestic zero-calorie carbonated beverage market has grown five-fold in two years, from 40 billion won in 2019 to 200 billion won last year.  

 

Ottogi Launched Canned Tuna with 40% Lower Fat Content

https://n.news.naver.com/mnews/article/030/0003012484 

Summary:  Ottogi launched five new types of canned tuna with 40% lower fat content compared to existing ones.  Along with the recent trend of “low food,” products with reduced fat or sugar, healthy and tasty food products are gaining popularity.