Bibigo frozen dumplings log W1tr sales in 2020

Sales of Bibigo frozen dumplings have exceeded 1 trillion won this year, the company behind the brand said Tuesday.

Bibigo owner CJ CheilJedang said sales of Bibigo dumplings stood at 1.03 trillion won ($930 million) in 2020, with 65 percent of the revenue coming from overseas.

Bibigo’s sales of dumplings have shown steady growth in Korea and in other countries, and this year’s sales were double from that of 2017, when the combined sales in domestic and overseas markets was 506 billion won.

By region, the US was the biggest market with sales recorded at 420 billion won this year, followed by China at 160 billion won, Japan 65 billion won and Europe 18 billion won.

Global sales for Bibigo dumplings first surpassed local sales in 2018.

CJ said it made efforts to get rid of negative perceptions of frozen food to improve its popularity in Korea.

In overseas markets, the company said it has analyzed the different eating cultures and consumption patterns, while also working to make its products recognized as Korean-style dumplings by promoting them using the Korean name, mandu.

CJ also said it has invested to expand its production bases, from five in Korea, the US and China, to 15 in countries including Vietnam, Japan and Germany, to meet the increasing demands.

In Europe, the company targeted the UK, France and Germany, countries which it viewed to be familiar with Asian cuisines, to enter major retail chains there. According to CJ, it recorded an average annual growth rate of 61 percent in the three countries in the past three years.

“The vision we have dreamed of at the launch of Bibigo mandu, which is that people in the world have Korean food once a week, has been realized,” a CJ CheilJedang official said.

“We will do our best to continue to promote Bibigo mandu in the world, and also come up with new ‘K-food’ that can follow the footsteps of the mandu in the future.”

By Jo He-rim (herim@heraldcorp.com)