‘No.1’ CJ Bibigo Dumplings Evolve into ‘Dining-Out Style Handmade Dumplings’... Explosive Sales Growth

First Half Sales Reach 126.3 Billion Won with 12% Growth, Market Share at 46.3% - Overwhelming Consumer Choice
Continuous Launch of Large Products Exceeding 10 Billion Won Annually... Revitalizing the Domestic Frozen Dumpling Market

[Asia Economy Reporter Lee Seon-ae] CJ CheilJedang's Bibigo dumplings continued to lead the frozen dumpling market in the first half of the year, driving solid growth.

CJ CheilJedang announced on the 6th that Bibigo dumpling sales reached 126.4 billion KRW in the first half of this year, marking a 12% increase compared to the same period last year. This performance exceeds the market growth rate (10%). The market share stood at 46.3% in June, creating a gap more than three times larger than the second-place company (15%), making it the overwhelming choice among consumers.

Currently, the frozen dumpling market has grown to around 500 billion KRW, becoming the largest category within frozen foods. However, the situation was quite different in 2013 when Bibigo dumplings were first launched. The market size was around 300 billion KRW and remained stagnant, with consumers choosing products based on familiarity in an unchanging market.

To overcome this market situation, CJ CheilJedang continuously introduced differentiated products incorporating R&D technology. Leading with the ‘national dumpling’ Bibigo Wang Gyoja, which generates annual sales exceeding 100 billion KRW, they launched large-scale products such as Bibigo Gun Mandu, Bibigo Mul Mandu, Bibigo Hanseom Mandu, and Bibigo Handmade Mandu House flavor dumplings, driving market change and revitalization. In this process, competitors also released various products, resulting in overall market growth and expanded consumer choices with diverse products.

In the second half of the year, CJ CheilJedang plans to continue introducing new products that will evolve the market. Especially in a market that has reached a higher standard, maintaining growth requires developing dining-style dumplings rather than competing solely with frozen dumplings. Under this strategy, the company intends to focus on ‘handmade-style dumplings’ comparable to dining specialty stores. Through this, they plan to attract dining-out demand into home consumption and upgrade the market.

Already, Bibigo Pyeongyang Mandu, launched in May, has gained popularity by offering restaurant-level taste and quality, broadening consumer choices. Additionally, at the end of last month, two new varieties?rich meat and shrimp dumplings?were added to the existing two types of Bibigo Handmade Mandu House flavor dumplings, launched under the concept of ‘handmade dumplings made by dumpling masters.’ CJ CheilJedang plans to develop Bibigo Handmade Mandu House flavor dumplings into a large-scale product with annual sales around 50 billion KRW.

A CJ CheilJedang official said, “As the leading company, we are not complacent with our main products but are expanding our product portfolio to satisfy diverse tastes,” adding, “Using the domestic market as a testbed, we will continue to discover large-scale products and promote the status of K-dumplings in overseas markets.”