CJ CheilJedang sells 3 million units of vegan food just 10 months after launch
Kyeong-je Han
Nov 29, 2022 (Gmt+09:00)
CJ CheilJedang's plant-based food brand PlanTable
The plant-based food brand PlantTable of Korean food and biotech giant CJ CheilJedang Corp. has seen three million units in cumulative sales since its launch 10 months ago.
Under its goal of developing such food as a new business, the company will focus on raising brand awareness with PlanTable's entry into the market.
PlanTable started out by exporting dumplings and export-only vegan kimchi and added in July Tteok-galbi (grilled short-rib patties), hamburger steak and rice balls. The number of the brand's export markets jumped from 10 at launch including Singapore and Australia to 30 including European nations like Germany and the UK, India and Africa.
The brand also raised its credibility in Europe by receiving in December last year Italy's vegan certification V-Label.
CJ CheilJedang's plant-based food brand is apparently creating synergy by brand through marketing to not only vegetarians but also general consumers. Sales data from the company's official mall CJ The Market found that over 80% of buyers of its plant-based dumplings also bought those with meat between PlanTable's launch in December last year and October this year.
A CJ CheilJedang source said, “This shows that plant-based products are not substitutes for conventional products and have created their own category.”
Women comprised 70% of PlanTable buyers and 70% of the brand's consumers were in their 30s and 40s. "Our popularity is led by the younger generation, who are fashion conscious and at the forefront of value consumption," another company source said.
In an R&D conference in July, CJ CheilJedang pledged to “develop plant-based food as a new future business.” The company's goal for plant-based food sales is 200 billion won ($150 million) in 2025, with 70% coming from exports.