CJ bets big on dried seaweed as next K-food

South Korean food manufacturer CJ CheilJedang said Monday it is betting on dried seaweed as the next megahit food item for exports, following the popularity of its Bibigo dumplings.

The company plans to double its dried seaweed sales by 2023, amid the expanding global market for the product.

In recent years, crispy and flavorful seaweed has gained popularity overseas as a healthy snack, full of vitamins and minerals.

CJ CheilJedang, which began marketing dried seaweed in 2006 and started exporting it to the US since 2010, saw sales expand from 17 billion won ($14.5 million) in 2015 to 27 billion won last year.

Sales in the US and Japan are expected to double this year, while the European and Southeast Asian markets are likely to see a sixfold jump, the company said.

The combined domestic and global market size of dried seaweed is expected to be worth 250 billion won by the year-end. 

To bolster its production capacity for exports, the company last year acquired a 49 percent stake in Samhae Commercial, a local company producing the popular brand Myungga.

It has also established dried seaweed production facilities in California, US, which will begin operations early next year. 

CJ CheilJedang has been selling its dried seaweed products in various flavors, including sesame oil, wasabi, sea salt and more, cementing its position as the world’s biggest supplier of the healthy and low-calorie snack. 

“We will focus our investments to make dried seaweed products that suit different markets in terms of flavor through localization,” said a CJ CheilJedang official.

By Kim Da-sol (ddd@heraldcorp.com)