With the vegan population growing around the globe, South Korean food companies have been expanding their business with their own versions of plant-based meat alternatives.
Due to a growing interest in vegetarian food here in the country and around the world, local food company, CJ CheilJedang announced to be launching its very own vegan brand called PlantTable.
About the line of products by CJ CheilJedang –
• It will be launching two types of vegan Bibigo Dumpling products around this month in Singapore and Australia.
• These dumplings will use a meat replacement made out of soybeans.
• The products are already being sold in South Korea for customers via e-commerce platforms since Friday.
• The company will also be also introducing vegan kimchi, which does not use any salted seafood or jeotgal (local term).
According to the company, it plans to expand its vegan product lineup with the goal to enter the United States, Europe and halal markets next year.
While another food company Pulmuone has also been eyeing the plant-based meat alternative market. It is reportedly using its know-how in tofu to develop various soy-based meat alternatives.
According to company, it has launched an assortment of ready-made bulgogi products for customers that use soy-based textured vegetable protein. While it is also making its way towards the United States with its products.
The company’s US branch, late this year have reportedly signed a deal to supply its alternative meat products to 200 locations of WaBa Grill, which is a California-based stir-fry restaurant franchise.
In December, globally renowned ramen and snack maker Nongshim from the country announced that in April next year it will open a vegan restaurant inside the Lotte World Tower building in Jamsil, southern Seoul.
According to the Korean Vegan Union, it reported that in the country as of this year there is an estimated population of some 2.5 million vegans and vegetarians, an up 66 percent from 2008.
The government motivated by such a growth has since invested over 4.5 billion won ($3.79 million) into startups that develop alternative meat-like plant-based protein or lab-grown meat, a four-fold increase from 2016.