Vegan meals tendencies are taking on the Korean market as a rising variety of shoppers favor plant-based diets. Korean corporations are actively releasing plant-based meal replacements amidst Okay-food’s international recognition development.
Korean vegan meals tech startup ‘Join & Join,’ which runs the model ‘Nuldam,’ has grown greater than 120% in transaction quantity in comparison with final yr as of the anticipated deadline in December.
Be part of & Be part of, which had a complete transaction quantity of 4 billion received ($3 million) final yr, stated it anticipated a transaction quantity of about 10 billion received ($7.8 million) this yr, together with the anticipated transaction quantity in December this yr.
Be part of & Be part of has proven a gradual price of enhance and reduce in transaction quantity since January 2022, particularly in October, reaching about 150% of the identical month’s transaction quantity, exhibiting outstanding development charges within the third and fourth quarters.
“After the collection A funding of 6.5 billion received ($5.1 million) in 2021, we’re increasing not solely the present B2C channels, but in addition the growth of B2B channels comparable to Samsung Welstory and CJ Freshway, in addition to securing giant offline prospects comparable to E-Mart, Lotte Mart, and GS25 comfort shops. It was the results of laborious work,” stated an official at Nuldam.
As well as, because the ‘Vegan/Diet Lab’ institution in April of this yr, which solely research vegan/diet meals and uncooked supplies, Be part of & Be part of has been constantly striving to develop sustainable uncooked supplies primarily based on meals engineering.
“We’re conducting analysis on vegetable dairy substitutes, vegetable taste improvement, and egg substitutes, and launched numerous vegan merchandise to the market this yr, together with authentic vegan milk, vegan croissants, and bagels,” an official from Nuldam stated. “As a result of growth of recent gross sales channels, together with numerous vegan merchandise launched this yr, increasingly more prospects are experiencing vegan for the primary time by means of Nuldam merchandise. We’ll inform extra prospects of the strengths and charms of vegan meals and strengthen model consciousness,” he added.
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