[Simple Mixed Rice] The Evolution of Broth

'Bibigo Soup Dishes' Sold 100 Million Packs Last Year

[Asia Economy Reporter Seungjin Lee] Consumers' love for soup-based home meal replacements (HMR) is heating up. Not only can they be easily consumed in busy daily life, but the taste and quality have also advanced to a professional level, rapidly replacing the essential place of soup dishes on Korean dining tables with HMR.

2.5 Times Growth in 2 Years, 500 Billion KRW Scale

The soup-based HMR market is growing steeply year by year. The soup HMR market, which grew to the 300 billion KRW range last year, is expected to expand to the 500 billion KRW range this year. The soup HMR market, which was about 200 billion KRW in 2019, has grown 2.5 times in two years.

A representative example is CJ CheilJedang's ‘Bibigo Soup Dishes.’ ‘Bibigo Soup Dishes,’ which sold over 100 million packs last year, means that every Korean ate more than two bowls on average. Annual sales exceeded 200 billion KRW, making it the third mega product following Hetbahn and Bibigo Dumplings. Launched in June 2016, Bibigo Soup Dishes started with sales of 14 billion KRW in its first year and recorded 218 billion KRW last year.

This achievement is largely due to the professional-level taste and quality, convenience, and product diversification such as Chadol Yukgaejang, Jinguk Seolleongtang, Abalone Seaweed Soup, and Galbitang. Last year, they differentiated themselves by launching the premium HMR ‘The Bibigo,’ which strengthened ‘health’ and ‘nutrition.’

Ottogi’s soup HMR recorded sales of 43 billion KRW last year, showing a growth rate of over 50% compared to the previous year. Ottogi gained popularity by faithfully reproducing nationwide famous restaurant dishes such as ‘Naju-style Beef Soup’ and ‘Mapo-style Chadol Doenjang Jjigae,’ which could be tasted at a famous meat restaurant in Mapo.

Dongwon F&B also benefited from COVID-19 last year, leading to significant growth in soup HMR. New products launched in April achieved sales of about 20 billion KRW within eight months. In particular, Dongwon F&B captured the authentic taste of traditional Korean cuisine cooked in a cauldron, rising to third place in market share within a year of launch.

Soup HMR used to be mainly consumed by newlyweds or single-person households in their 20s and 30s. However, due to changes in consumer culture and the impact of COVID-19 last year, the proportion of home dining has greatly increased, and purchases by middle-aged and older consumers are also rapidly rising, according to the food industry. Harim, a meat processing company recognized for quality and taste with products like Samgyetang, is also entering the soup HMR market. Harim recently invested 520 billion KRW to establish ‘Harim Food Complex’ in Iksan, Jeonbuk, to expand its HMR product lineup. Harim plans to expand its domain from ramen to soup HMR as well.