Hyundai Green Food, HMR Sales Growth Curve..."Product Differentiation and Expansion of MZ Customers Effective"

Hyundai Green Food, a comprehensive food company affiliated with Hyundai Department Store Group, is experiencing an upward trend in sales of its Home Meal Replacement (HMR) products. The main factors are product differentiation through facility investment and a large influx of MZ (Millennial + Generation Z) customers who are highly interested in health management.

Greeting product. [Photo by Hyundai Green Food]

Hyundai Green Food announced on the 16th that its HMR sales reached 46 billion KRW last year, a 60% increase compared to 29 billion KRW the previous year. By brand, the care food specialty brand ‘Greeting’ saw sales grow by 120% year-on-year, and ‘Modu-ui Matjip’ (Everyone’s Famous Restaurant), which produces regional restaurant menus as Restaurant Meal Replacements (RMR), exceeded its sales target by 20% in its first year of product launch last year. HMR products released in collaboration with star chefs also recorded double-digit growth rates.

Hyundai Green Food attributes the growth in HMR sales to product differentiation achieved through multi-product production based on its know-how in B2B businesses such as group catering. Additionally, responding to the spreading health management trend centered on the MZ generation, the launch of various care food products further fueled growth.

In the case of Greeting, Hyundai Green Food enhanced quality competitiveness and taste completeness by incorporating high-quality ingredients into HMR products, leveraging its B2B business expertise and ingredient buying capabilities. The win-win HMR brand Modu-ui Matjip introduced over 30 new products last year, faithfully replicating the taste and form of regional restaurant menus. This involved processing methods utilizing the manufacturing capabilities of the ‘Smart Food Center,’ which operates with an investment of approximately 100 billion KRW.

Kim Hae-gon, Head of Strategic Planning at Hyundai Green Food, said, "Expanding from existing group catering and ingredient distribution into food manufacturing has allowed us to continuously introduce various collaborative products, including care foods. Going forward, we will continue to leverage our business know-how and synergy in both B2B and B2C sectors to become a trend leader driving a healthy food culture."