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Plant-based nuggets show potential for new market growth in S. Korea Updated: 2021-06-18 13:25:51 KST

The chicken nuggets boiling in this fryer's hot oil aren't actually made from chicken.
These golden brown, crispy chunks are in fact, are actually made from a plant-based protein from mushrooms, and the market response has exceeded vendors' initial expectations.

"We planned to sell one-hundred-thousand in the first three months. Thanks to strong sales, we surpassed our target figure in the first month. We produced two-hundred-thousand more, which are now on sale."

Besides these nuggets, there are a handful of other plant-based options in the frozen food aisle.

Lotte Food, the first local company to put out its original plant-based nuggets and pork cutlets in 2019, has further diversified its product range.

"Plant-based meats have more health benefits than red meat as they consist of plant-based protein with zero cholesterol. Many health-conscious consumers in their 20s and 30s are purchasing our products."

Due to the popularity of meat substitutes among young people, foreign brands like Beyond Meat are also logging promising figures.
The company has sold more than 15,000 plant-based burger patties in South Korea.

And these numbers are giving industry experts confidence to believe that the domestic plant-based food sector can experience huge growth.

"Local companies are trying to follow these global trends by developing tofu and plant-based products and focusing their efforts on targeting younger customers who are more health conscious and eco-sensitive."

As per the Korea International Trade Association, meat substitutes are projected to make up at least sixty percent of the world's meat market share by 2040.
And the recent increase in sales of plant-based foods within the nation is expected to rise further.
Cho Sung-min, Arirang News.
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