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[뉴스워치= 윤영의 기자] It was confirmed that the export of Korean sauces last year reached a record high, with interest in the Korean Wave expanding to Korean food.
Sauce exports have continued to grow solid at 8~11% every year since 2016. In particular, last year, as the homecook trend spread due to Corona 19, it recorded more than double the growth rate of the previous year.
According to the’Promising Item AI Report-Sauces’ released on the 5th by the Institute for International Trade and Trade of the Korea International Trade Association, exports of sauces to Korea last year reached a record high of $31.72 million, up 25.8% from the previous year.
Other sauces exports, which accounted for 55.5% of all sauces exports, increased by 33.6% compared to 2019. Sauces include chicken seasoning sauce, tteokbokki sauce, bulgogi sauce, and buldak sauce, so it was analyzed that the overseas popularization of Korean sauces was reflected in the export performance.
As a result of evaluating nine key indicators such as gross domestic product (GDP), population, and import growth rate by major countries, the market with the highest potential for exporting domestic sauces was named China (84.1 points). This was followed by the United States (81.6 points) and Russia (80.8 points).
China is the country with the second largest exports of sauces to Korea after the United States, and exports worth 61.8 million dollars, 20.2% of all sauces exports last year.
The share of Korean sauces in the Chinese sauce import market has increased significantly from 14.9% in 2016 to 24.9% in 2020, and remains firmly as the No. 1 market share.
Thailand, the second largest market share in China, showed a slight decline from 12.9% to 12.6% over the same period, confirming that Korean sauces are strengthening their dominance in the Chinese market.
“Recently, Kimchi-flavored powder ranked first in Amazon’s new seasoning sales category, and Korean-style burgers are being sold at famous American hamburger chains. As the Korean Wave, which began with’K-Pop’ and’K-Pop’, is now spreading across cultures such as Korean food, it is necessary to develop products that suit the taste of locals and target overseas markets by strengthening the brand.”
Meanwhile, Martial Arts has further strengthened support for Korean companies’ export expansion and market diversification by including the list of buyers and import information in major promising markets from this AI report on promising items in the report.
Reporter Yoon Young-eui [email protected]
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