Samyang 'Buldak Sauce' Becomes No.1 Hot Sauce in Korea... Surpasses 35% Market Share

Domestic Hot Sauce Market Size 35.5 Billion KRW
Production Initiated by Customer Requests for Separate Sauce Sales
Expanding Influence Through Collaboration with E-Mart, SPC Samlip, and Others

Samyang Foods' Buldak Sauce has become the best-selling hot sauce in South Korea.

Samyang Round Square announced on the 27th that Buldak Sauce was selected as the No.1 hot sauce brand in domestic sales by Euromonitor International, a global market research firm.

According to the survey results by Euromonitor and Samyang Round Square, the domestic hot sauce retail market size reached 35.5 billion KRW last year. Among this, Buldak Sauce recorded a 36.2% market share in the domestic hot sauce retail market, ranking first in hot sauce sales. The category survey targeted spicy seasoning sauces and condiments made from chili peppers, excluding products such as gochujang, chili powder, and flakes.

Buldak Sauce started as a limited edition product in 2017 in response to customer requests to sell the sauce separately from Buldak Bokkeum Myun. Due to its irreplaceable complex spiciness and popularity, the original flavor was officially launched in 2018. Since then, products such as Carbo Buldak Sauce, Hek Buldak Sauce, Buldak Sriracha, Buldak Mayo, and Buldak Chipotle Mayo have been released. Considering the diverse uses of the sauce, products with various packaging and formulations, such as stick-type Buldak Sauce and bulk-type Buldak Sauce, have also been introduced.

Buldak Sauce has been noted as a new growth engine for Samyang Round Square, recording rapid annual sales growth. According to the Financial Supervisory Service's electronic disclosure system, Samyang Foods' sales of sauces and seasoning materials steadily increased by more than 30% each year, reaching 21.3 billion KRW in 2021, 29 billion KRW in 2022, and 38.1 billion KRW in 2023. As of 2023, sauces account for 58% of domestic sales, and the product is sold in over 40 countries worldwide, including the United States, China, and Southeast Asia, expanding its influence.

As Buldak Sauce's growth stands out, collaborations with the foodservice industry aiming to utilize it are also increasing. Foodservice menus and retail products using Buldak Sauce are continuously being launched, such as Emart Kitchen Deli's Buldak series, SPC Samlip's Buldak Cheese Potato Pizza at pizza stores, and John Cook Deli Meat's Buldak Kielbasa. Samyang Round Square provides partner companies with the Buldak Sauce emblem so consumers can easily identify whether genuine Buldak Sauce is used. They plan to further expand the uses of Buldak Sauce through various collaborations with the foodservice industry in the future.

A representative of Samyang Round Square stated, “Buldak Sauce has established itself as the No.1 hot sauce in Korea and is recognized as an icon setting new standards in the hot sauce market,” adding, “We will continue to actively target the sauce market to expand beyond ramen and lead the category of ‘spicy flavor.’”