Experts argue that instant food and HMR will continue to expand in exchange for dwindling sales of basic ingredients. (Yonhap)
SEOUL, Sept. 9 (Korea Bizwire) — A recent study has shown that purchases of ingredients needed for cooking are dropping as more people are buying home meal replacement (HMR) products.
In addition, fewer South Korean households are making their own kimchi, which explains the increasing consumption of packed kimchi and dwindling sales of pepper paste and soy sauce.
The Ministry of Agriculture, Food and Rural Affairs and the Korea Rural Economic Institute (KREI) reported that sales of instant food are expanding by an average of 25.1 percent each year.
“Convenience is the new food culture that has been driving the expansion of HMR and packed kimchi,” said the KREI.
Sales of staple ingredients, in contrast, have plunged. Sugar, flour, and pepper paste have dropped by an average of 9.6 percent, 5.9 percent, and 3.8 percent in sales each year.
Experts argue that instant food and HMR will continue to expand in exchange for dwindling sales of basic ingredients.
The KREI explained that kimchi has been growing rapidly in terms of sales, and shows potential for growth in the retail market thanks to the dwindling demand for homemade kimchi and increasing preference for convenience.
H. M. Kang (hmkang@koreabizwire.com)
